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Earnings Beat: Headquartered in London, BP plc (BP - Free Report) reported third-quarter adjusted earnings of 66 cents per American Depositary Share (ADS) on a replacement cost basis. The bottom-line surpassed the Zacks Consensus Estimate of 53 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 all the past four quarters, the average positive earnings surprise being 19.1%.
Revenues Miss: Revenues of $69,292 million failed to beat the Zacks Consensus Estimate of $78,859 million.
Key Stats: Total production of 2.568 million barrels of oil equivalent per day (MMBoe/d) was higher than the year-earlier quarter level of 2.460 MMBoe/d.
The company sold liquids for $55.68 per barrel in the third quarter (versus $69.68 in the year-earlier quarter) and natural gas for $3.11 per thousand cubic feet (versus $3.86). Overall price realization decreased to $35.48 per Boe from the year-ago level of $46.14 per Boe.
Check back later for our full write up on this BP earnings report later!
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BP Beats Q3 Earnings Estimates, Misses Revenues
Earnings Beat: Headquartered in London, BP plc (BP - Free Report) reported third-quarter adjusted earnings of 66 cents per American Depositary Share (ADS) on a replacement cost basis. The bottom-line surpassed the Zacks Consensus Estimate of 53 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 all the past four quarters, the average positive earnings surprise being 19.1%.
BP p.l.c. Price and EPS Surprise
BP p.l.c. price-eps-surprise | BP p.l.c. Quote
Revenues Miss: Revenues of $69,292 million failed to beat the Zacks Consensus Estimate of $78,859 million.
Key Stats: Total production of 2.568 million barrels of oil equivalent per day (MMBoe/d) was higher than the year-earlier quarter level of 2.460 MMBoe/d.
The company sold liquids for $55.68 per barrel in the third quarter (versus $69.68 in the year-earlier quarter) and natural gas for $3.11 per thousand cubic feet (versus $3.86). Overall price realization decreased to $35.48 per Boe from the year-ago level of $46.14 per Boe.
Zacks Rank: Currently, BP has a Zacks Rank #3 (Hold) but that could change following its third-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!
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
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