Earnings Miss: Headquartered in London, BP plc BP reported second-quarter adjusted loss of $1.98 per American Depositary Share (ADS) on a replacement cost basis. The bottom-line is wider than the Zacks Consensus Estimate of a loss of 99 cents.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of earnings for the quarter has witnessed no upward and downward movements in the past seven days.
BP has an impressive earnings surprise history. The company managed to beat the Zacks Consensus Estimate in three of the past four quarters and miss once, the average positive earnings surprise being 8.4%.
BP plc Price and EPS Surprise
BP p.l.c. price-eps-surprise | BP p.l.c. Quote
Revenues Miss: Revenues of $31,190 million missed the Zacks Consensus Estimate of $42,230 million.
Key Stats: Total production of 2,525 thousand barrels of oil equivalent per day (MBoe/d) was lower than the year-earlier quarter level of 2,625 MMBoe/d.
The company sold liquids for $22.75 per barrel in the second quarter (versus $62.63 in the year-earlier quarter) and natural gas for $2.53 per thousand cubic feet (versus $3.35). Overall price realization decreased to $19.06 per Boe from the year-ago level of $40.64.
Zacks Rank: Currently, BP has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back for our full write up on the BP earnings report later!
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>
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 Zacks.com 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.