Equinor Non-GAAP EPS of $0.37, revenue of $26.05B beats by $2.24B; reaffirms FY outlook

* Equinor press release [https://seekingalpha.com/pr/20283574-equinor-third-quarter-2025-results] (NYSE:EQNR [https://seekingalpha.com/symbol/EQNR]): Q3 Non-GAAP EPS of $0.37.
* Revenue of $26.05B (+2.4% Y/Y) beats by $2.24B.
* Third quarter cash dividend of USD 0.37 per share and fourth tranche of share buy-back of up to USD 1.266 billion.
* Total capital distribution for 2025 in line with announced level of around USD 9 billion.
* Equinor delivered a total equity production of 2,130 mboe per day in the third quarter, up 7% from 1,984 mboe per day in the same quarter last year.
* Cash flow from operations after taxes paid ended at USD 5.33 billion.
* Organic capital expenditure was USD 3.41 billion for the quarter, and total capital expenditures were USD 3.68 billion.
* OUTLOOK : Organic capital expenditures are estimated at USD 13 billion for 2025.
* Oil & gas production for 2025 is estimated to grow 4% compared to 2024 level.
* Equinor’s ambition is to keep the unit of production cost in the top quartile of its peer group.
* Scheduled maintenance activity is estimated to reduce equity production by around 30 mboe per day for the full year of 2025.

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