BP plc (BP) Q3 Earnings Beat Estimates, Revenues Rise

Headquartered in London, BP plcBP is a leading integrated energy player. The company's upstream operations comprise of exploration and development of oil and natural gas properties. While the downstream operations include refining and chemicals manufacturing.

Currently, BP has a Zacks Rank #3 (Hold) but that could change following its third-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 surpassed the Zacks Consensus Estimate in three of the last four quarters with an average positive earnings surprise of 32.39%. We have highlighted some of the key quarterly details from the just-released announcement below:

Earnings: The company reported third-quarter adjusted earnings of 57 cents per American Depositary Share (ADS) on a replacement cost basis, excluding non-operating items. The bottom line surpassed the Zacks Consensus Estimate of 50 cents.

Revenue: Revenues of $60,808 million came higher than $48,043 million in the year-ago comparable quarter.

Key Stats: Total production of 2.462 million barrels of oil equivalent per day (MMBoe/d) was up 16.4% year over year.

The company sold liquids for $47.45 per barrel in the third quarter (versus $40.99 in the year-earlier quarter) and natural gas for $2.89 per thousand cubic feet (versus $2.77). Overall price realization increased to $33.23 per Boe from the year-ago level of $29.37 per Boe.

Refining Marker Margin of $16.3 per barrel, up from $11.6 per barrel in the year-ago comparable period. Total refinery throughput increased to 1,745 thousand barrels per day (MB/d) from 1,650 MB/d in the year-earlier period. Refining availability was 95.3% versus 95.4% in the year-ago period.

Check back later for our full write up on this BP earnings report later!

BP p.l.c. Price and EPS Surprise

BP p.l.c. Price and EPS Surprise | BP p.l.c. Quote

Wall Street's Next Amazon

Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It's a once-in-a-generation opportunity to invest in pure genius.

Click for details >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

BP p.l.c. (BP): Free Stock Analysis Report

To read this article on click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Other Topics

Earnings Investing Stocks

Latest Markets Videos


    Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at

    Learn More