Equinor stock gains as output guidance rises after Q3 rebound

Equinor delivered stronger third-quarter operations on October 28, 2026, and raised its full-year production outlook. The company also outlined new power and exploration initiatives that broaden its integrated energy strategy, according to Equinor's results release.

Higher production supports earnings

Adjusted operating income reached USD 12.35 billion in the third quarter, while net income was USD 2.54 billion. Adjusted net income came to USD 2.86 billion, producing adjusted earnings per share of USD 1.20.

Total equity production increased 2 percent year over year to 2,166 thousand barrels of oil equivalent per day. International oil and gas production rose 21 percent, supported by new output from Adura in the United Kingdom and Bacalhau in Brazil, as well as lower turnaround activity.

Strategy adds new growth options

Equinor acquired an interest in a gas-fired power plant in the United States and progressed the Bay du Nord project in Canada with a new partner. The company also accessed exploration acreage in Namibia and established a strategic exploration partnership on the Norwegian continental shelf.

These moves add longer-term portfolio options beyond the quarter's commodity and refining effects. Equinor said higher liquids and European gas prices, together with strong refining margins, supported the period, while lower international liftings reduced sales volumes.

Guidance and shareholder returns

Management lifted 2026 oil and gas production growth guidance from 3 percent to around 4 percent. Cash flow from operations after taxes paid reached USD 8.14 billion, and the adjusted net debt-to-capital-employed ratio fell to 3.8 percent at the end of the quarter from 10.4 percent in the previous quarter.

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

The real-time quote of Equinor stock traded at 42.60 euros on Lang & Schwarz at 15:39 CET on Tuesday, October 27, 2026.

Energy markets remain central to the outlook for Equinor and its peers; see current market reports.

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