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Earnings Miss: Headquartered in London, BP plc BP reported fourth-quarter adjusted earnings of 3 cents per American Depositary Share (ADS) on a replacement cost basis. The bottom-line missed the Zacks Consensus Estimate of earnings of 12 cents per share.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of earnings for the quarter has witnessed two downward revisions in the past 30 days.
Notably, the company beat the consensus estimate in two of the prior four quarters, the average surprise being 8.9%.
BP p.l.c. Price and EPS Surprise
BP p.l.c. price-eps-surprise | BP p.l.c. Quote
Revenues Beat: Revenues of $48,568 million beat the Zacks Consensus Estimate of $45,307 million.
Key Stats: Total production of 2,155 thousand barrels of oil equivalent per day (MBoe/d) was lower than the year-earlier quarter level of 2,698 MBoe/d.
The company sold liquids for $38.42per barrel in the fourth quarter (versus $55.90 in the year-earlier quarter) and natural gas for $3.10 per thousand cubic feet (versus $3.12). Overall price realization decreased to $28.48 per Boe from the year-ago level of $36.42.
Zacks Rank: Currently, BP has a Zacks Rank #3 (Hold). 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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