Stock Monitor: MagneGas Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 25, 2018 / If you want access to our free earnings report on BP PLC (NYSE: BP), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BP. The Company posted its financial results on May 01, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The London, UK-based Company's total sales and other operating revenues and underlying RC profit per ADS grew on a y-o-y basis to outperform market forecasts. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for MagneGas Corporation (NASDAQ: MNGA), which also belongs to the Basic Materials sector as the Company BP PLC. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, BP most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
During Q1 FY18, BP's sales and other operating revenues came in at $68.17 billion, up from the $55.86 billion recorded at the end of Q1 FY17. Furthermore, the Company's revenues for the reported quarter topped market expectations of $67.95 billion.
The oil Company reported RC profit of $2.39 billion, or 11.99¢ per diluted share, in Q1 FY18 compared to $1.41 billion, or 7.23¢ per diluted share, in Q1 FY17. BP's underlying RC profit was $2.59 billion, or 12.98¢, in Q1 FY18 compared to $1.51 billion, or 7.74¢, in the year ago same period. Furthermore, the Company's underlying RC profit per American Depositary Share (ADS) stood at $0.78 in the reported quarter compared to $0.46 in Q1 FY17, beating market analysts' forecasts of $0.68 for Q1 FY18.
BP's Upstream segment reported revenues of $7.14 billion in Q1 FY18 compared to $5.55 billion in Q1 FY17. The segment's RC profit before interest and tax increased to $3.17 billion in Q1 FY18 compared to $1.26 billion in Q1 FY17.
For Q1 FY18, BP's Downstream segment contributed $60.92 billion to the Company's total revenues versus $50.17 billion in the year ago comparable quarter. The segment reported RC profit before interest and tax of $1.71 billion in Q1 FY18 versus $1.71 billion in Q1 FY17.
Cash Matters and Balance Sheet
For the quarter ended March 31, 2018, BP generated cash from operations of $3.65 billion compared to $2.11 billion in the prior year's corresponding quarter. The Company's capital expenditure was $3.96 billion in Q1 FY18 compared to $4.07 billion in Q1 FY17.
The Company's cash and cash equivalents balance stood at $22.24 billion as on March 31, 2018, compared to $25.59 billion at the close of books as on December 31, 2017. The Company's net debt was $39.99 billion as on March 31, 2018, compared to $38.64 billion as on December 31, 2017. Furthermore, the Company's net debt ratio stood at 28.1% as on March 31, 2018, compared to 28.0% as on December 31, 2017.
Dividend and Share Repurchase
In its earnings press release, BP announced a quarterly dividend of 10.00¢ per ordinary share ($0.600 per ADS), which is expected to be paid on June 22, 2018.
During Q1 FY18, BP repurchased 18 million ordinary shares at a cost of $120 million, including fees and stamp duty.
Stock Performance Snapshot
May 24, 2018 - At Thursday's closing bell, BP's stock declined 1.51%, ending the trading session at $45.75.
Volume traded for the day: 7.92 million shares, which was above the 3-month average volume of 6.02 million shares.
Stock performance in the last month - up 3.58%; previous three-month period - up 14.09%; past twelve-month period - up 23.98%; and year-to-date - up 8.85%
After yesterday's close, BP's market cap was at $152.02 billion.
Price to Earnings (P/E) ratio was at 28.88.
The stock has a dividend yield of 5.25%.
The stock is part of the Basic Materials sector, categorized under the Major Integrated Oil & Gas industry.
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