1354 GMT - Equinor is moderating its energy transition plans, which should in theory mean more robust cash flows over time, RBC Capital Markets analysts Biraj Borkhataria and Adnan Dhanani write. The Norwegian energy major's capital allocation plans assume a slowdown in organic offshore wind plans and a slowdown in onshore renewables, they say. Some of its low carbon solutions projects also appear to be slowing, they say. The results look like a slight beat to consensus at the net income level, but guidance for a $5 billion buyback in 2025 is slightly below the $6 billion expected. Total shareholder distributions of $9 billion marks a step down versus 2024 levels of $14.6 billion. "We think there were some lofty expectations into the event around potential distributions." Shares trade 3.2% lower at 268.85 Norwegian kroner. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
February 05, 2025 08:54 ET (13:54 GMT)
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