Equinor ASA's stock plunged around 5% in pre-market trading on Wednesday, despite the Norwegian oil and gas giant reporting largely positive fourth quarter results and providing an upbeat outlook for 2025 and beyond.
The company reported Q4 2024 adjusted earnings of $0.63 per share, narrowly beating analyst estimates of $0.62. However, quarterly revenue of $26.42 billion fell slightly short of the $25.97 billion expectation.
Looking ahead, Equinor forecast higher free cash flow of around $23 billion for 2025-2027, driven by reduced capital expenditures and cost cutting measures. Oil and gas production is expected to grow over 10% by 2027, with 2030 output projected at 2.2 million barrels of oil equivalent per day (boepd), up from a previous estimate of 2 million boepd.
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