London, England-based BP plc (BP - Free Report) is one of the world's major energy companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemical products. The Upstream business is focused mainly in the U.S., with significant presence in the Caribbean, Africa, Europe, the Middle East and Asia-Pacific. The downstream business consists primarily of U.S. refineries, along with presence in Europe, Asia-Pacific and Africa. The company also produces a range of petrochemicals.
Currently, BP has a Zacks Rank #3 (Hold) but that could change following its second quarter 2017 earnings report which has just released.You can see the complete list of today’s Zacks #1 Rank stocks here.
Coming to earnings surprise history, the company has a mixed track record regarding earnings surprises. We have highlighted some of the key quarterly details from the just-released announcement below:
Earnings: BP beats on earnings. Earnings per ADS came in at 21 cents, higher than the Zacks Consensus Estimate of 11 cents.
Revenue: Revenues of $57,366 million failed to surpass the Zacks Consensus Estimate of $64,514 million.
Key Stats: Total production of 2.431 million barrels of oil equivalent per day (MMBoe/d) was up 9% year over year.
The company sold liquids for $46.27 per barrel in the second quarter (versus $39.68 in the year-earlier quarter)and natural gas for $3.19 per thousand cubic feet (versus $2.66). Overall price realization increased to $33.59 per Boe from the year-ago level of $28.66 per Boe.
Refining Marker Margin of $13.8 per barrel remained in-line with the year-ago comparable period.Total refinery throughput decreased to 1,688 thousand barrels per day (MB/d) from 1,704 MB/d in the year-earlier period. Refining availability was 94.5% versus 95.7% in the year-ago period.
Check back later for our full write up on this BP earnings report later!
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