Tue, Nov. 8, 9:58 AM
Tue, Jul. 26, 5:11 PM
- BP (NYSE:BP) declares $0.60/ADR quarterly dividend, in line with previous.
- Forward yield 6.66%
- Payable Sept. 16; for shareholders of record Aug. 5; ex-div Aug. 3.
Tue, Apr. 26, 2:55 AM
- BP's (NYSE:BP) underlying Q1 replacement cost profit, which is analogous to underlying net income, slumped to $532M from $2.57B a year earlier but beat expectations for a loss of $244.9M.
- The company also swung to an overall replacement cost loss of $485M from a profit of $2.1B.
- Total revenues and other income dropped to $39.2B from $56.2B.
- "Despite the challenging environment, we are driving toward our near-term goal of rebalancing BP's cash flows,” says CEO Bob Dudley. "Operational performance is strong and our work to reset costs has considerable momentum and is delivering results."
- BP left its dividend unchanged $0.10 a share, likely to be paid in June.
- As you'd expect, the slump in oil prices hurt profits, with Brent prices running at an average of $34 in Q1 vs $54 last year. Refining margins fell to their lowest quarterly average for more than five years.
- Shares +3% in Lonon. (PR)
Oct. 28, 2014, 10:25 AM
Apr. 29, 2014, 3:22 AM
- BP's (BP) Q1 underlying replacement-cost profit, which is equivalent to net profit and strips out inventory gains or losses, dropped to $3.23B from $4.22B a year earlier.
- Revenue declined to $91.71B from $94.11B.
- Production fell 8.5% to 2.13M barrels of oil a day and BP warned that output would fall in Q2 from Q1, mainly due to major maintenance.
- Actual net profit dropped to $3.53B from $16.86B in Q1 2013, when BP was boosted by a $12.5B gain from the sale of its holding in TNK-BP.
- The upstream division's underlying pretax replacement cost profit fell to $4.4B from $5.7B, dragged down by asset sales and a charge of $521M. At the downstream operations, profit tumbled to $1B from $1.6B amid a weaker refining environment.
- Despite the fall in earnings, BP raised its Q1 dividend to 9.75 cents a share from 9 cents last year. (PR)
Feb. 4, 2014, 2:58 AM
- BP's (BP) Q4 underlying replacement cost profit - which strips out the effect of oil-price movements - dropped to $2.8B from $3.9B a year earlier but met analyst forecasts.
- Underlying pretax replacement cost profit at BP's upstream segment fell to $3.9B from $4.4B.
- The decline in profits was mainly due to asset sales, weaker refining margins, and higher depreciation and exploration write-downs.
- Production excluding Russia -1.9% to 2.25M barrels of oil equivalent a day, although underlying output rose 3.7%. BP expects the latter metric to rise this year but overall output to fall.
- The refining marker margin slumped to $11 a barrel from $18.7 a year earlier.
- The provision to cover the Deepwater Horizon oil spill rose slightly to $42.7B from $42.5B.
- Net debt $25.2B vs $27.5B.
- "The result benefited from higher underlying production and a one-off credit to production taxes," BP said. (PR)