Earnings Beat: Headquartered in London, BP p.l.c. (BP – Free Report) reported third-quarter adjusted earnings of $1.15 per American Depositary Share (ADS) on a replacement cost basis. The bottom-line surpassed the Zacks Consensus Estimate of 86 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 two of the last four quarters, the average positive earnings surprise being 6.9%.
Revenue: Revenues of $80,803 million came higher than $60,808 million in the year-ago comparable quarter.
Key Stats: Total production of 2.460 million barrels of oil equivalent per day (MMBoe/d) was almost flat with the year-earlier quarter.
The company sold liquids for $69.68 per barrel in the third quarter (versus $47.45 in the year-earlier quarter) and natural gas for $3.86 per thousand cubic feet (versus $2.89). Overall price realization increased to $46.14 per Boe from the year-ago level of $33.23 per Boe.
Refining Marker Margin of $14.7 per barrel stands lower than $16.3 per barrel in the prior-year quarter. Total refinery throughput increased to 1,793 thousand barrels per day (MB/d) from 1,745 MB/d in the year-earlier period. Refining availability was 96.3% versus 95.3% in the year-ago period.
Zacks Rank: Currently, BP has a Zacks Rank #2 (Buy) but that could change following its third-quarter 2018 report which has just released.
BP p.l.c. Price and EPS Surprise
BP p.l.c. Price and EPS Surprise | BP p.l.c. Quote
