Equinor ASA (NYSE:EQNR)

$ 24.18 -0.19 (-0.78%) Market Cap: 66.17 Bil Enterprise Value: 66.85 Bil PE Ratio: 7.73 PB Ratio: 1.56 GF Score: 79/100

Q1 2019 Equinor ASA Earnings Call Transcript

May 03, 2019 / 09:30AM GMT

Release Date Price: $21.81 (+0.69%)

Transcript

Peter Hutton

Equinor ASA - SVP of IR

I know it's been a busy week for reporting, so we'll get straight to business. On the call today, we've got Lars Christian Bacher, CFO, who will run through the quarter's results and then we'll open up for Q&A. Also, with us are Svein Skeie, Head of Performance Management; and Ãrjan Kvelvane, Head of Accounting.

With that, I'll pass straight away to Lars Christian. Thank you.

Lars Christian Bacher

Equinor ASA - Executive VP & CFO

Thank you, Peter and good morning, everybody, and thank you for joining us on this first quarter earnings call. Today, Equinor presents solid results across all segments. Adjusted earnings after tax were up year-on-year despite lower commodity prices in the quarter. Oil price increased gradually through the quarter from below $55 per barrel at the end of 2018 to around $70 at the end of first quarter, resulting in an average Brent oil price of $63. For the first 3 months of 2019, we report a strong cash flow from operating activities before tax of $6.5 billion and we reduced the

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