Equinor ASA (NYSE:EQNR) Q3 2024 Earnings Conference Call October 24, 2024 3:00 AM ET
Company Participants
Torgrim Reitan - Executive Vice President, Chief Financial Officer
Bard Glad Pedersen - Senior Vice President of Investor Relations
Conference Call Participants
Biraj Borkhataria - RBC
Teodor Sveen Nilsen - SpareBank 1 Markets
Martijn Rats - Morgan Stanley
Henri Patricot - UBS
Alastair Syme - Citi
Alejandro Vigil - Santander
Yoann Charenton - Bernstein
Lydia Rainforth - Barclays
Giacomo Romeo - Jefferies
Michele della Vigna - Goldman Sachs
Kim Fustier - HSBC
Matt Lofting - JPMorgan
Anders Rosenlund - SEB
Peter Low - Redburn
Operator
Good day and welcome to the Equinor Analysts Call Q3 Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions]. And finally, I would like to advise all participants that this call is being recorded. Thank you.
I'd now like to welcome Bard Glad Pedersen, Senior Vice President of Investor Relations to begin the conference. Bard, over to you.
Bard Glad Pedersen
Thank you, operator. And good morning to all. I'm here together with Torgrim Reitan, our CFO. As usual, he will take us through the numbers and then we will open for questions-and-answers.
So, with that, I hand it over to Torgrim.
Torgrim Reitan
Thank you, Bard. And good morning, everyone, and thank you for joining. Before we go into the results, take a look at the photo of Johan Sverdrup. It's a truly remarkable asset. After five years in production, it has now produced more than 1 billion barrels. It continues to create significant value and cash flow quarter-after-quarter, and total revenue is already higher than $80 billion.
On the 21st of September, we set a new record with over 756,000 barrels of oil produced. We optimized water management and continue to drill new wells. And this has helped to extend the plateau into next year.
Now, let me dive into the numbers. Today, we deliver solid financial results and operational performance in a quarter with extensive turnarounds. We report adjusted operating income of $6.9 billion before tax and an IFRS net income of $2.3 billion. Year-to-date, we have delivered cash flow from operations after tax of $14 billion. We are on track to deliver in line with what we said at our Capital Markets Update in February.
Our adjusted earnings per share came in at $0.79. We saw an all-time high production from Troll in the gas year ending in September. We have done improvements and de-bottlenecking across the gas value chain for many years, ensuring reliable supply of natural gas to Europe. And this has created quite a bit of added value from increasing gas prices in this quarter.