Earnings Beat: Headquartered in London, BP plc (BP Quick QuoteBP - Free Report) reported first-quarter adjusted earnings of 70 cents per American Depositary Share (ADS) on a replacement cost basis. The bottom-line surpassed the Zacks Consensus Estimate of 68 cents.  

Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of earnings for the quarter has been unchanged in the last seven days.

BP has an impressive earnings surprise history. The company managed to beat the Zacks Consensus Estimate in three of the last four quarters, the average positive earnings surprise being almost 21%.

Revenues Beat: Revenues of $67,407 million beat the Zacks Consensus Estimate of $63,243 million.

Key Stats: Total production of 2.656 million barrels of oil equivalent per day (MMBoe/d) was higher than the year-earlier quarter level of 2.605 MMBoe/d.

The company sold liquids for $56.47 per barrel in the first quarter (versus $61.40 in the year-earlier quarter) and natural gas for $4.02 per thousand cubic feet (versus $3.78). Overall price realization decreased to $39.37 per Boe from the year-ago level of $41.39 per Boe.              

Zacks Rank: Currently, BP has a Zacks Rank #3 (Hold) but that could change following its first-quarter 2019 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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