BP profits slump on weaker oil prices, but beat forecasts [Reuters]
BP p.l.c. (BP)
Last bp p.l.c. earnings: 4/29 04:01 pm
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Source: Reuters
BP profits slump on weaker oil prices, but beat forecasts - Reuters 1 Min Read LONDON (Reuters) - BP’s ( BP.L ) third-quarter profit dropped sharply, but still beat expectations, hurt by weaker oil prices, lower production and one-off charges linked to large divestments. London-based BP reported on Tuesday third-quarter underlying replacement cost profit, the company’s definition of net income, of $2.3 billion, exceeding forecasts of $1.73 billion in a company-provided survey of analysts. That compared with $3.83 billion a year earlier and $2.81 billion in the second quarter of 2019. The sharp drop will not come as a surprise to investors after BP indicated earlier this month that it would take a non-cash charge of $2 to $3 billion in the quarter as it gets closer to divestments worth $10 billion by the end of 2019, a year ahead of schedule. Reporting by Ron Bousso, editing by Louise Heavens All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and
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BP
Earnings
- 2/7/24 - Miss
BP
Sec Filings
- 4/18/24 - Form 6-K
- 4/9/24 - Form 6-K
- 4/2/24 - Form 6-K
- BP's page on the SEC website