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Here's What Key Metrics Tell Us About BP (BP) Q4 Earnings
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For the quarter ended December 2023, BP (BP - Free Report) reported revenue of $52.59 billion, down 25.3% over the same period last year. EPS came in at $1.07, compared to $1.59 in the year-ago quarter.
The reported revenue represents a surprise of -11.67% over the Zacks Consensus Estimate of $59.53 billion. With the consensus EPS estimate being $1.09, the EPS surprise was -1.83%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how BP performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Production (net of royalties) - Oil production & operations - Natural gas: 2,305 Mcf/D versus the three-analyst average estimate of 2,051.3 Mcf/D.
Production (net of royalties) - Oil production & operations - Liquids: 1024 millions of barrels of oil per day versus the three-analyst average estimate of 990.8 millions of barrels of oil per day.
Average realizations - Liquids - US: $67.66 per barrel versus the two-analyst average estimate of $61.91 per barrel.
Average realizations - Liquids - Europe: $81.02 per barrel versus the two-analyst average estimate of $78.96 per barrel.
Average realizations - Liquids - Rest of World: $87.27 per barrel versus $81.89 per barrel estimated by two analysts on average.
Production (net of royalties) - Oil production & operations - Liquids - US: 440 millions of barrels of oil per day versus 424.3 millions of barrels of oil per day estimated by two analysts on average.
Production (net of royalties) - Oil production & operations - Liquids - Rest of World: 440 millions of barrels of oil per day versus the two-analyst average estimate of 393.64 millions of barrels of oil per day.
Production (net of royalties) - Oil production & operations - Natural gas - US: 1,663 Mcf/D compared to the 1,353.8 Mcf/D average estimate based on two analysts.
Production (net of royalties) - Oil production & operations - Natural gas - Europe: 286 Mcf/D versus 321.75 Mcf/D estimated by two analysts on average.
Total revenues and other income- Interest and Other Income: $599 million versus the two-analyst average estimate of $454.37 million. The reported number represents a year-over-year change of -1.5%.
Total revenues and other income- Sales and other operating revenues: $52.14 billion versus $57.67 billion estimated by two analysts on average.
Total revenues and other income- Earnings from associates - after interest and tax: $156 million versus $466.78 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +20.9% change.
Shares of BP have returned -3.4% over the past month versus the Zacks S&P 500 composite's +5.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Here's What Key Metrics Tell Us About BP (BP) Q4 Earnings
For the quarter ended December 2023, BP (BP - Free Report) reported revenue of $52.59 billion, down 25.3% over the same period last year. EPS came in at $1.07, compared to $1.59 in the year-ago quarter.
The reported revenue represents a surprise of -11.67% over the Zacks Consensus Estimate of $59.53 billion. With the consensus EPS estimate being $1.09, the EPS surprise was -1.83%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how BP performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Production (net of royalties) - Oil production & operations - Natural gas: 2,305 Mcf/D versus the three-analyst average estimate of 2,051.3 Mcf/D.
- Production (net of royalties) - Oil production & operations - Liquids: 1024 millions of barrels of oil per day versus the three-analyst average estimate of 990.8 millions of barrels of oil per day.
- Average realizations - Liquids - US: $67.66 per barrel versus the two-analyst average estimate of $61.91 per barrel.
- Average realizations - Liquids - Europe: $81.02 per barrel versus the two-analyst average estimate of $78.96 per barrel.
- Average realizations - Liquids - Rest of World: $87.27 per barrel versus $81.89 per barrel estimated by two analysts on average.
- Production (net of royalties) - Oil production & operations - Liquids - US: 440 millions of barrels of oil per day versus 424.3 millions of barrels of oil per day estimated by two analysts on average.
- Production (net of royalties) - Oil production & operations - Liquids - Rest of World: 440 millions of barrels of oil per day versus the two-analyst average estimate of 393.64 millions of barrels of oil per day.
- Production (net of royalties) - Oil production & operations - Natural gas - US: 1,663 Mcf/D compared to the 1,353.8 Mcf/D average estimate based on two analysts.
- Production (net of royalties) - Oil production & operations - Natural gas - Europe: 286 Mcf/D versus 321.75 Mcf/D estimated by two analysts on average.
- Total revenues and other income- Interest and Other Income: $599 million versus the two-analyst average estimate of $454.37 million. The reported number represents a year-over-year change of -1.5%.
- Total revenues and other income- Sales and other operating revenues: $52.14 billion versus $57.67 billion estimated by two analysts on average.
- Total revenues and other income- Earnings from associates - after interest and tax: $156 million versus $466.78 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +20.9% change.
View all Key Company Metrics for BP here>>>Shares of BP have returned -3.4% over the past month versus the Zacks S&P 500 composite's +5.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.