Equinor : Q2 results slightly lower than expected due to some production shutdowns and low gas prices
>Slightly lower-than-expected results - Q2 2023 adjusted EBIT came to $ 7.54bn (vs $ 11.9bn in Q1, -37% qoq), i.e. 1% below consensus. Adjusted net profit reached $ 2.25bn, 3% below consensus and 9% lower than our estimate, with an effective tax rate of 70.2%.Production shutdowns and gas prices weighed on earnings - E&P profits came to $ 7bn (vs $ 10.9bn in Q1) below expectations (ODDO BHF estimate: $ 7.4bn, cons: $ 7.1bn). Production fell 7.5% qoq d...Equinor is engaged in oil and gas exploration and production activities. Co. is primarily focused on exploration, development and production of oil and gas on the Norwegian continental shelf (NCS). Co.'s operations are organized into four segments. The Development and Production Norway and Development and Production International segments explore, develop, produce and extract crude oil, natural gas and natural gas liquids. The Marketing, Processing and Renewable Energy segment markets, trades, transports and processes oil and natural gas and renewable energy. The Other segment consists of global well and project delivery, research and develpoment, and business development.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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