Equinor : Solid FCF boosted by gas and negative gearing but cash returns remain unchanged
>Q1 2022 results 5% above estimates - Q1 2022 adjusted EBIT totalled $ 17.9bn (+19.5% q-o-q), 5% above consensus, while adjusted net profit was $ 5.17bn (+17.8% q-o-q) and 7% above the consensus, driven by the strong performance of the E&P Norway division which benefited from the rise in Brent and especially higher natural gas prices. For 2022, the group anticipates production growth of around 2%. These results reflect a stable effective tax rate of 71%. §ph...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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