1. present participle of equal; being the same in quantity, size, value, or quality as something else
Usage: British spelling; American English typically uses 'equaling'
2. present participle of equal; achieving or reaching the same level or standard as someone or something
Usage: often used in competitive or comparative contexts

Examples

• The two measurements are equalling each other perfectly.
• Her performance is equalling that of the top athletes in the competition.
• The company's profits are equalling last year's record.
• By working hard, he is equalling his older brother's achievements.
• The new model's speed is equalling the previous version.
• These two recipes are equalling in difficulty and preparation time.