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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.

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.

4th quarter 2024 — Collected January 2025, 24 analysts provided input

In million USD

E&P Norway

6940

E&P International

289

E&P USA

154

MMP

443

REN

-98

Other

-18

Adjusted operating income before tax

7709

Tax, E&P Norway

5342

Tax, E&P International

86

Tax E&P USA

37

Tax, MMP

210

Tax, REN

-10

Tax, Other

-17

Tax in total

5648

Adjusted operating income after tax

2061

Expensed exploration impacting EPN

124

Expensed exploration impacting EPI

101

Expensed exploration impacting EP USA

80

mbd

Liquids production Norway

641

Gas production Norway

781

Liquids production EPI, equity

305

Gas production EPI, equity

35

Liquids production EP US, equity

145

Gas production EP US, equity

185

Total production, equity

2093

PSA/royalty effect, EPI

79

PSA/royalty effect, EP USA

45

Total production, entitlement

1969

CFFO after tax (excl. WC), million USD

4026

Organic capex , million USD

3591

Adjusted EPS, USD/share

0,68

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.

Invitations for consensus input

Q4 2024 – Invitation for consensus input

Historical consensus information and invitations for consensus input