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Equinor ASA (EQNR) Releases Q1 2026 Earnings: EPS Up 29% Despite Revenue Decline

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Equinor ASA (EQNR) reported first-quarter 2026 results with revenue of $27.8 billion (down 5.24% year over year) and gross profit of $11.8 billion (down 15.62%). Operating profit increased to $8.8 billion (up 5.34%), and net income attributable to common shareholders rose to $3.1 billion (up 18.23%). Diluted earnings per share were 1.24, a 29.17% year-over-year increase.

  • Revenue: $27.8 billion (−5.24% YoY)
  • Gross profit: $11.8 billion (−15.62% YoY)
  • Operating profit: $8.8 billion (+5.34% YoY)
  • Net income to common shareholders: $3.1 billion (+18.23% YoY)
  • Diluted EPS: 1.24 (+29.17% YoY)
  • Cash flow and liquidity showed mixed signals: cash generated from operating activities fell to $5.2 billion (down 42.34%), while capital spending was roughly $3.1 billion (up 2.94%). Total cash and cash equivalents stood at $5.9 billion (down 20.16%).

  • Cash from operations: $5.2 billion (−42.34% YoY)
  • Capital expenditures: $3.1 billion (+2.94% YoY)
  • Cash and cash equivalents: $5.9 billion (−20.16% YoY)
  • Cost of sales increased to $16.1 billion (up 4.12%), and total liabilities were about $97.5 billion (up 0.40%), reflecting a modest rise in leverage on the balance sheet.

    Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

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    Equinor ASA Hedge Fund Activity

    We have seen 174 institutional investors add shares of Equinor ASA stock to their portfolio, and 184 decrease their positions in their most recent quarter.

    Here are some of the largest recent moves:

    • MIRABELLA FINANCIAL SERVICES LLP removed 29,673,607 shares (-99.0%) from their portfolio in Q4 2025, for an estimated $701,187,333
    • JPMORGAN CHASE & CO removed 2,087,235 shares (-91.3%) from their portfolio in Q4 2025, for an estimated $49,321,363
    • FMR LLC removed 1,377,554 shares (-46.4%) from their portfolio in Q4 2025, for an estimated $32,551,601
    • FOLKETRYGDFONDET removed 1,206,934 shares (-1.1%) from their portfolio in Q4 2025, for an estimated $28,519,850
    • WELLINGTON MANAGEMENT GROUP LLP removed 1,004,188 shares (-26.1%) from their portfolio in Q4 2025, for an estimated $23,728,962
    • BLACKROCK, INC. removed 714,551 shares (-35.5%) from their portfolio in Q4 2025, for an estimated $16,884,840
    • CITIGROUP INC added 695,060 shares (+125.9%) to their portfolio in Q4 2025, for an estimated $16,424,267

    To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

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