BP Q4 Earnings Trump Estimates On Key Upstream Projects
Zacks Investment Research | Feb 04, 2020 07:55AM ET
BP plc (LON:BP) (NYSE:BP) reported fourth-quarter 2019 adjusted earnings of 76 cents per American Depositary Share (ADS) on a replacement cost basis, excluding non-operating items. The bottom line surpassed the Zacks Consensus Estimate of 65 cents but deteriorated from the year-ago quarter’s $1.04.
Total revenues of $72,170 million declined from $76,885 million in the year-ago quarter and missed the Zacks Consensus Estimate of $80,172 million.
Higher oil equivalent volumes, backed by key upstream projects, primarily contributed to the better-than-expected earnings performance. However, this was partially offset by lower commodity price realizations, declined refinery throughput outside the United States and Europe, and narrower heavy crude oil discounts in the fuels business.
BP p.l.c. Price, Consensus and EPS Surprise
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