Company Report
BP corporate - reported results analysis
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Report summary
BP reported underlying quarterly profits of US$2.4 billion – up 70% quarter-on-quarter, and ahead of analyst consensus expectations. Net debt nudged lower in Q2 (having jumped in Q1), with gearing (excluding leases) falling to 24.6%. Six months since its big strategy reset, and with incoming chair Albert Manifold set to join the board on 1 September, leadership took the opportunity to highlight operational and strategic progress year-to-date. The message was that BP is doing what it said it would do, with a spotlight this quarter on organic growth in upstream – the Brazilian pre-salt discovery announced yesterday a highlight – and structural cost reductions elsewhere in the business. BP shares were up 1.8% in mid-afternoon trading London (vs. Shell +0.6%).
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Table of contents
- Headline financials
- Shareholder distributions
- Messaging
- Structural cost reductions
- New chair, new plan?
- Headline financials
- Shareholder distributions
- Guidance
- Messaging
- Strategy
- Headline financials
- Shareholder distributions
- 86 more item(s)...
Tables and charts
This report includes the following images and tables:
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What's included
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