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Market consensus of analysts

Our consensus of analysts represents the average estimate of multiple independent financial and equity analysts following Equinor. We aggregate their forecasts on key metrics such as earnings and production estimates, helping investors to predict performance and providing a benchmark for comparing actual outcomes.

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Analyst consensus

Every quarter ahead of the earnings announcement, we collect earnings and production estimates from the equity analysts covering the company. These numbers become a proxy for the market’s expectations of our results.

Closed Period

We voluntarily apply a ‘closed period’ before the results of a reporting period are announced. During the two-week period preceding the announcement, we limit our communications with the capital market and will not meet with capital market representatives.

3rd quarter 2024 — Collected October 2024, 25 analysts provided input

In million USD

E&P Norway

5874

E&P International

496

E&P USA

288

MMP

531

REN

-92

Other

-19

Adjusted operating income before tax

7079

Tax, E&P Norway

4531

Tax, E&P International

195

Tax E&P USA

73

Tax, MMP

273

Tax, REN

-8

Tax, Other

-3

Tax in total

5060

Adjusted operating income after tax

2018

Expensed exploration impacting EPN

102

Expensed exploration impacting EPI

111

Expensed exploration impacting EP USA

30

mbd

Liquids production Norway

620

Gas production Norway

694

Liquids production EPI, equity

287

Gas production EPI, equity

32

Liquids production EP US, equity

154

Gas production EP US, equity

189

Total production, equity

1976

PSA/royalty effect, EPI

80

PSA/royalty effect, EP USA

47

Total production, entitlement

1849

CFFO after tax (excl. WC), million USD

6090

Organic capex , million USD

3363

Adjusted EPS, USD/share

0,73

Method: Consensus numbers for reporting segments, as well as tax and production items, represent the average of the inputs after deducting the highest and lowest value for each item. The consensus numbers for adjusted operating income (before tax) represents the sum of the consensus for reporting segments. Estimate for after tax operating income (adjusted) equals the consensus pre-tax number minus consensus for tax in total. Total equity production and entitlement production is the sum of the consensus items for production.

Historical consensus information and invitations for consensus input