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Market consensus of analysts

Our consensus of analysts represents the average estimate of multiple independent financial and equity analysts following Equinor. We aggregate their forecasts on key metrics such as earnings and production estimates, helping investors to predict performance and providing a benchmark for comparing actual outcomes.

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Analyst consensus

Every quarter ahead of the earnings announcement, we collect earnings and production estimates from the equity analysts covering the company. These numbers become a proxy for the market’s expectations of our results.

Closed Period

We voluntarily apply a ‘closed period’ before the results of a reporting period are announced. During the two-week period preceding the announcement, we limit our communications with the capital market and will not meet with capital market representatives.

1st quarter 2024 — Collected April 2024, 22 analysts provided input

In million USD

E&P Norway

5887

E&P International

594

E&P USA

256

MMP

592

REN

-112

Other

-20

Adjusted operating income before tax

7198

Tax, E&P Norway

4566

Tax, E&P International

245

Tax E&P USA

64

Tax, MMP

302

Tax, REN

-13

Tax, Other

-5

Tax in total

5160

Adjusted operating income after tax

2038

Expensed exploration impacting EPN

107

Expensed exploration impacting EPI

92

Expensed exploration impacting EP USA

40

mbd

Liquids production Norway

660

Gas production Norway

810

Liquids production EPI, equity

305

Gas production EPI, equity

36

Liquids production EP US, equity

161

Gas production EP US, equity

195

Total production, equity

2168

PSA/royalty effect, EPI

78

PSA/royalty effect, EP USA

49

Total production, entitlement

2041

Method: Consensus numbers for reporting segments, as well as tax and production items, represent the average of the inputs after deducting the highest and lowest value for each item. The consensus numbers for adjusted operating income (before tax) represents the sum of the consensus for reporting segments. Estimate for after tax operating income (adjusted) equals the consensus pre-tax number minus consensus for tax in total. Total equity production and entitlement production is the sum of the consensus items for production.

Historical consensus information and invitations for consensus input