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BP Tops Q4 Earnings Estimates on Higher Commodity Prices
Earnings Beat: Headquartered in London, BP plc (BP - Free Report) reported fourth-quarter adjusted earnings of $1.23 per American Depositary Share (ADS) on a replacement cost basis. The bottom-line beat the Zacks Consensus Estimate of earnings of $1.18 per ADS.
History: The Zacks Consensus Estimate of earnings for the quarter has witnessed one upward revision in the past 30 days.
The British energy giant beat the consensus estimate for bottom lines in three of the prior four quarters, the average surprise being 10.8%.
BP p.l.c. Price and EPS Surprise
BP p.l.c. price-eps-surprise | BP p.l.c. Quote
Revenues Miss: Revenues of $52,238 million beat the Zacks Consensus Estimate of $42,111 million.
Key Stats: Total production of 1,358 thousand barrels of oil equivalent per day (MBoe/d) was almost flat with the year-earlier quarter level of 1,359 MBoe/d.
The company sold liquids for $71.07 per barrel in the fourth quarter (versus $38.58 in the year-earlier quarter) and natural gas for $9.27 per thousand cubic feet (versus $2.38). Overall price realization increased to $66.94 per Boe from the year-ago level of $33.18.
Zacks Rank: Currently, BP carries 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!