Equinor Shareholder Returns Disappoint -- Market Talk

Dow Jones
02/05

1014 ET - Equinor cuts capital expenditure as expected, but shareholder distributions are disappointing, Jefferies analysts Giacomo Romeo and Kai Ye Loh write. Updated guidance reflects consensus expectations in terms of the capex cut, due to lower renewables spending. However, 2025 distributions are lower than expected and the outlook for 2026 distributions remains unclear, they say. The 2025 dividend and buyback of $9 billion is below consensus at $10 billion, while Equinor has scrapped its 2026 buyback guidance. Quarterly earnings beat consensus on net income but are relatively inline on the operating line and on cash flow from operations. Shares trade 3.5% lower at 268.20 Norwegian kroner. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

February 05, 2025 10:14 ET (15:14 GMT)

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