Equinor stock gains outlook support from stronger Q3 results

Equinor reported stronger third-quarter operating performance on Wednesday, October 28, 2026, and raised its full-year production outlook. The company said adjusted operating income reached USD 12.35 billion, while adjusted net income was USD 2.86 billion. The figures were published in the company's third-quarter results release.

Equity production rose 2 percent year over year to 2,166 thousand barrels of oil equivalent per day. International oil and gas output increased 21 percent, helped by production from Adura in the United Kingdom and Bacalhau in Brazil and by lower turnaround activity. Production on the Norwegian continental shelf was stable, while US production declined from the year-earlier quarter.

Higher output supports capital returns

Equinor raised its 2026 oil and gas production growth guidance from 3 percent to around 4 percent. Chief Executive Anders Opedal said strong production, higher prices and safe operations supported the change. The company also pointed to a record contribution from the Mongstad refinery and strong Marketing, Midstream and Processing results.

Cash flow from operations after taxes paid reached USD 8.14 billion in the quarter. Reported net operating income was USD 11.95 billion, up from USD 5.27 billion a year earlier. Equinor attributed the improvement mainly to higher liquid and European gas prices, stronger refining margins and high production.

The board approved a third-quarter cash dividend of USD 0.39 per share. A fourth and final 2026 buyback tranche of up to USD 1.125 billion started on October 29 and is scheduled to run no later than February 1, 2027. The planned 2026 buyback programme totals up to USD 3 billion.

Expansion adds strategic options

Equinor continued to broaden its energy portfolio during the quarter. The company acquired an interest in the Lackawanna gas-fired power plant in the United States, entered exploration acreage in Namibia and advanced the Bay du Nord project in Canada. Equinor acquired bp's interest in Bay du Nord and sold a 30 percent interest to Shell in October; the project is moving toward an investment decision.

Equinor stock traded at 42.60 euros on Lang & Schwarz at 15:39 Berlin time on Tuesday, October 27, 2026. Investors can follow the real-time quote of Equinor stock.

Current market reports are available in the market overview.

Equinor's next scheduled financial milestone is the fourth-quarter and full-year 2026 results release on February 3, 2027. More news and analyses on Equinor stock.