Equinor shares fall after cash flow miss despite record output and strong profits
Updated
Updated · Reuters · May 6
Equinor shares fall after cash flow miss despite record output and strong profits
6 articles · Updated · Reuters · May 6
The stock dropped 7.6% in Oslo after first-quarter operating cash flow after tax fell 19% to $6 billion, below a $7.3 billion forecast.
Adjusted pretax profit rose to $9.77 billion, above expectations, while production hit a record 2.31 million barrels of oil equivalent per day, helped by higher oil and gas prices.
Equinor kept its dividend at $0.39 a share and maintained reduced buybacks, while CEO Anders Opedal said disruption from the US-Israeli war with Iran could outlast hostilities by at least six months.
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