Equinor reported $4.84 billion in quarterly profit and expanded its 2026 share buyback programme to $3 billion.
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Norwegian energy company Equinor reported a sharp increase in second-quarter earnings, benefiting from stronger oil and gas prices alongside solid production levels.
Net operating income rose to $12.99 billion during the quarter, compared with $5.72 billion in the same period last year.
Net income climbed to $4.84 billion, or $1.99 per share, from $1.32 billion, or $0.50 per share, a year earlier.
Adjusted operating income reached $11.48 billion, up from $6.53 billion in the second quarter of 2025. Adjusted net income nearly doubled to $3.22 billion, equivalent to $1.33 per share, compared with $1.67 billion, or $0.64 per share, last year.
Equinor President and Chief Executive Anders Opedal said strong production allowed the company to benefit from higher energy prices, contributing to robust earnings and cash flow.
Oil and gas production increased by approximately 3% to 2.17 million barrels of oil equivalent per day during the quarter.
Cash flow from operations after taxes reached $7.68 billion, while organic capital expenditure amounted to $3.35 billion.
Following the strong performance, Equinor maintained its quarterly cash dividend at $0.39 per share and confirmed plans to return additional capital to shareholders through an expanded share buyback programme.
The company will begin the third tranche of its 2026 share repurchase programme on July 23. The tranche will have a total value of up to $1.125 billion and is scheduled to run until October 26.
Equinor now plans to repurchase as much as $3 billion in shares during 2026, double the amount initially announced earlier in the year.
The Norwegian state, which owns 67% of Equinor, will redeem a proportional number of its shares to ensure that its ownership stake remains unchanged.
