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BP plc (BP) Q4 Earnings Miss, Revenues Beat

London, England-based BP plcBP is one of the world's major energy companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemical products. The Upstream business is focused mainly in the U.S., with significant presence in the Caribbean, Africa, Europe, the Middle East and Asia-Pacific. The downstream business consists primarily of U.S. refineries, along with presence in Europe, Asia-Pacific and Africa. The company also produces a range of petrochemicals. BP also owns a 19.8% stake in Russian oil company Rosneft.

Currently, BP has a Zacks Rank #3 (Hold) but that could change following its fourth quarter 2016 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 has a mixed track record regarding earnings surprises. We have highlighted some of the key quarterly details from the just-released announcement below:

Earnings: BP misses on earnings. Earnings per ADS came in at 13 cents, lower than the Zacks Consensus Estimate of 16 cents.

Revenue: Revenues of $52,121 million surpassed the Zacks Consensus Estimate of $48,356 million.

Key Stats: Total production of 2.186 million barrels of oil equivalent per day (MMBoe/d) was down 5.5% year over year.

The company sold liquids for $43.89 per barrel in the fourth quarter (versus $38.91 in the year-earlier quarter) and natural gas for $3.08 per thousand cubic feet (versus $3.47). Overall price realization increased to $31.40 per Boe from the year-ago level of $30.34 per Boe.

Refining Marker Margin decreased to $11.4 per barrel from $13.2 in the fourth quarter of 2015. Total refinery throughput decreased to 1,644 thousand barrels per day (MB/d) from 1,714 MB/d in the year-earlier period. Refining availability was 94.9% versus 95.5% 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

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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.

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