Earnings Miss: Headquartered in London, BP plc (BP - Free Report) reported first-quarter adjusted earnings of 24 cents per American Depositary Share (ADS) on a replacement cost basis. The bottom-line missed the Zacks Consensus Estimate of 28 cents.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of earnings for the quarter has been revised upward in the past seven days.
BP has an impressive earnings surprise history. The company managed to beat the Zacks Consensus Estimate in all the past four quarters, the average positive earnings surprise being 12.7%.
Revenues Miss: Revenues of $59,540 million missed the Zacks Consensus Estimate of $64,430 million.
Key Stats: Total production of 2.579 million barrels of oil equivalent per day (MMBoe/d) was lower than the year-earlier quarter level of 2.656 MMBoe/d.
The company sold liquids for $47.47 per barrel in the first quarter (versus $56.47 in the year-earlier quarter) and natural gas for $2.83 per thousand cubic feet (versus $4.02). Overall price realization decreased to $31.80 per Boe from the year-ago level of $39.37.
Zacks Rank: Currently, BP has a Zacks Rank #3 (Hold) but that could change following its first-quarter 2020 report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
Check back later for our full write up on this BP earnings report later!
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Earnings Miss: Headquartered in London, BP plc (BP - Free Report) reported first-quarter adjusted earnings of 24 cents per American Depositary Share (ADS) on a replacement cost basis. The bottom-line missed the Zacks Consensus Estimate of 28 cents.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of earnings for the quarter has been revised upward in the past seven days.
BP has an impressive earnings surprise history. The company managed to beat the Zacks Consensus Estimate in all the past four quarters, the average positive earnings surprise being 12.7%.
Revenues Miss: Revenues of $59,540 million missed the Zacks Consensus Estimate of $64,430 million.
Key Stats: Total production of 2.579 million barrels of oil equivalent per day (MMBoe/d) was lower than the year-earlier quarter level of 2.656 MMBoe/d.
The company sold liquids for $47.47 per barrel in the first quarter (versus $56.47 in the year-earlier quarter) and natural gas for $2.83 per thousand cubic feet (versus $4.02). Overall price realization decreased to $31.80 per Boe from the year-ago level of $39.37.
Zacks Rank: Currently, BP has a Zacks Rank #3 (Hold) but that could change following its first-quarter 2020 report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
Check back later for our full write up on this BP earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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