July 26, 2018 / 5:11 AM / 9 months ago

Equinor Q2 adj operating income lags forecast due Norway maintenance

OSLO, July 26 (Reuters) - Equinor’s second-quarter adjusted operating income rose from a year ago but missed market expectations due to higher maintenance on the Norwegian continental shelf, the oil and gas firm said on Thursday.

Adjusted earnings before interest and taxes rose to $4.3 billion in the quarter from $3 billion during the same quarter in 2017, and compared with $4.6 billion in a Reuters poll of analysts.

Earnings from the biggest of its three divisions, Norwegian exploration and production, were affected by “higher turnaround activity”, Equinor said in presentation material.

The company, previously known as Statoil, maintained its 2018 guidance and offered a dividend of $0.23 per share, as expected. (Reporting by Nerijus Adomaitis, editing by Gwladys Fouche)

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