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BP Beats Q2 Earnings Estimate, Misses Revenues

Zacks Equity Research

Earnings Beat: Headquartered in London, BP plc BP reported second-quarter adjusted earnings of 83 cents per American Depositary Share (ADS) on a replacement cost basis. The bottom-line surpassed the Zacks Consensus Estimate of 78 cents.  

Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of earnings for the quarter has been unchanged in the last seven days.

BP has an impressive earnings surprise history. The company managed to beat the Zacks Consensus Estimate in three of the last four quarters, the average positive earnings surprise being almost 17.5%.

Revenues Miss: Revenues of $73,747 million failed to beat the Zacks Consensus Estimate of $79,786 million.

Key Stats: Total production of 2.625 million barrels of oil equivalent per day (MMBoe/d) was higher than the year-earlier quarter level of 2.465 MMBoe/d.

The company sold liquids for $62.63 per barrel in the second quarter (versus $67.24 in the year-earlier quarter) and natural gas for $3.35 per thousand cubic feet (versus $3.65). Overall price realization decreased to $40.64 per Boe from the year-ago level of $43.37 per Boe.                

Zacks Rank: Currently, BP has a Zacks Rank #3 (Hold) but that could change following its second-quarter 2019 report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.

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

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