BP plc (BP) Misses Q2 EPS by 24c; initiates Q3 outlook

BP plc (NYSE: BP) reported Q2 EPS of $0.89, $0.24 worse than the analyst estimate of $1.13. Revenue for the quarter came in at $48.54 billion versus the consensus estimate of $52.83 billion.

OUTLOOK:

BP (BP) expects Q3 reported upstream production to be broadly flat compared to Q2. Within this, BP (BP) expects production from oil production & operations to be lower and gas & low carbon energy to be higher, including the effects of seasonal maintenance in higher margin regions offset by major project delivery.

BP (BP) continues to expect the other businesses & corporate underlying annual charge to be in a range of $1.1-1.3 billion for 2023.

Capital expenditure is expected to be $16-18 billion in 2023.

For earnings history and earnings-related data on BP plc (BP) click here.

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