Equinor : Q2 results undershot expectations but debt is down and the group is launching its share buyback plan
>Slight disappointment on EBIT and net profit - Q2 2021 adjusted EBIT totalled $ 4.64bn (vs $ 5.47bn in Q1; -15% q-o-q), 3% and 4% below our estimates and the consensus respectively. Adjusted net profit came in at $ 1.58bn (vs $ 2.66bn in Q1), 10% below our estimates and consensus, with an effective tax rate of 66%, compared with 51.3% in Q1 due to better results in E&P Norway and MMP, which is likely to increase as tax benefits are reduced, notably in H2. §p...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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