Equinor ASA: EPS $1.20 vs $1.38 expected; revenue $33.2B vs $33.3B
Key Facts
Q3 FY2026 results
| Metric | Actual | Estimate | Surprise | Year ago |
|---|---|---|---|---|
| EPS (USD) | 1.20 | 1.38 | −13.0% | 0.37 |
| Revenue (USD bn) | 33.19 | 33.30 | −0.3% | 26.02 |
Recent reports: actual vs estimate
| Reported | Period | EPS (USD) | Estimate | Surprise | Revenue (USD bn) | Estimate | Surprise |
|---|---|---|---|---|---|---|---|
| Oct 28, 2026 | Q3 FY2026 | 1.20 | 1.38 | −13.0% | 33.19 | 33.30 | −0.3% |
| Jul 22, 2026 | Q2 FY2026 | 1.33 | 1.39 | −4.3% | 34.52 | 34.03 | +1.5% |
| May 6, 2026 | Q1 FY2026 | 1.48 | 1.01 | +46.5% | 27.84 | 28.73 | −3.1% |
| Feb 4, 2026 | Q4 FY2025 | 0.81 | 0.60 | +35.0% | 25.30 | 22.06 | +14.7% |
| Oct 29, 2025 | Q3 FY2025 | 0.37 | 0.57 | −35.1% | 26.02 | 21.36 | +21.8% |
| Jul 23, 2025 | Q2 FY2025 | 0.64 | 0.66 | −3.0% | 25.29 | 23.26 | +8.7% |
| Apr 30, 2025 | Q1 FY2025 | 0.66 | 0.83 | −20.5% | 29.38 | 24.76 | +18.7% |
| Feb 5, 2025 | Q4 FY2024 | 0.63 | 0.82 | −23.2% | 26.54 | 24.97 | +6.3% |
Source: Figures from the EL7 database. Estimates are the analyst consensus carried by our data vendor (FMP), not official figures.
Equinor ASA results: EPS $1.20 vs $1.38 expected; revenue $33.2B vs $33.3B. The results cover the company's Q3 FY2026. EPS came in below analysts' estimate by 13.0%; revenue below the estimate by 0.3%.
Revenue was up 27.6% from $26.0 billion a year earlier (Q3 FY2025). EPS was up 224.3% from $0.37 a year earlier. On its record, EPS topped analysts' estimates in 2 of 7 earlier comparable reports.
What the results mean
Revenue growth at Equinor indicates an expanding sales base, but it is insufficient to establish the strength of profitability. The nature of its business links the conversion of revenue into earnings to oil and gas prices, extraction and development costs, and the mix of activities.
Equinor combines exploration and production with marketing, transportation and processing, making energy market conditions and asset operating efficiency central business drivers. Investments in renewables and low-carbon solutions add a capital allocation dimension, bringing attention to the balance between resource development spending and funding these activities.
What to watch on the earnings call: The call merits attention to management’s explanation of how revenue growth translates into profitability, including the roles of energy prices, business mix and operating costs. Production efficiency, spending priorities and capital allocation across oil and gas, renewables and low-carbon solutions also warrant discussion.
For the full analysis of Equinor ASA stock — valuation, scores and financial statements — see the stock page linked with this story.