BP (BP) Q3 Earnings Beat Estimates, Revenues Miss

Zacks Equity Research
·2-min read

Earnings Beat: Headquartered in London, BP plc BP reported third-quarter adjusted earnings of 3 cents per American Depositary Share (ADS) on a replacement cost basis. The bottom-line beat the Zacks Consensus Estimate of loss of 9 cents per share.

Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of loss for the quarter has witnessed one upward and two downward revisions in the past 30 days.

Notably, despite beating the consensus estimate in two of the prior four quarters, the company posted an average negative earnings surprise of 18.2%.

BP p.l.c. Price and EPS Surprise

BP p.l.c. Price and EPS Surprise
BP p.l.c. Price and EPS Surprise

BP p.l.c. price-eps-surprise | BP p.l.c. Quote

Revenues Miss: Revenues of $44,202 million missed the Zacks Consensus Estimate of $60,017 million.

Key Stats: Total production of 2,243thousand barrels of oil equivalent per day (MBoe/d) was lower than the year-earlier quarter level of 2,568MBoe/d.

The company sold liquids for $38.17 per barrel in the third quarter (versus $55.68 in the year-earlier quarter) and natural gas for $2.56 per thousand cubic feet (versus $3.11). Overall price realization decreased to $26.42 per Boe from the year-ago level of $35.48.                 

Zacks Rank: Currently, BP has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Check back for our full write up on the BP earnings report later!

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