The earnings call presented a balanced view with significant achievements in upstream production, EV growth, and shareholder returns, while also facing challenges in trading performance and cash flow generation.
Company Guidance
In the BP Third Quarter 2024 Results Call, Murray Auchincloss provided several key metrics reflecting BP's operational and financial performance. Upstream production increased by approximately 3% year-to-date, with a 5% rise in liquids production. Plant reliability and refining availability were strong, exceeding 95% and 96% respectively. The EV charging business experienced an 80% year-on-year growth, reaching a cumulative 1 terawatt hour of electricity sold globally. BP's biogas supply reached 23 kbd with eight plants commissioning in the fourth quarter. The company reported an underlying profit of $2.3 billion for the quarter, announced a $1.75 billion share buyback, and declared a dividend of $0.08 per ordinary share. BP continues to focus on strategic priorities, including the divestment of non-competitive assets, and aims for over $0.5 billion in cost savings by 2025, on track for a $2 billion target by the end of 2026.
Upstream Production Increase
Year-to-date upstream production was up around 3%, with liquids production up 5%.
EV Charging Growth
The EV charging business saw an 80% year-on-year growth, with 1 terawatt hour of electrons sold globally.
Shareholder Returns
Announcement of a $1.75 billion share buyback and a dividend per ordinary share of $0.08.
Cost Savings Targets
BP is on track to deliver over $0.5 billion of cost savings in 2025, aiming for at least $2 billion by the end of 2026.
Expansion in New Markets
Accessing new resource opportunities in Iraq, Azerbaijan, and Abu Dhabi, with significant progress in Kaskida and Tiber projects.
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BP plc (GB:BP.B) Earnings, Revenues Date & History
The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GB:BP.B Earnings-Related Price Changes
Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Oct 29, 2024
152.91p
156.31p
+2.22%
Jul 30, 2024
150.97p
150.97p
0.00%
May 07, 2024
141.44p
141.44p
0.00%
Feb 06, 2024
143.33p
143.33p
0.00%
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does BP PLC (GB:BP.B) report earnings?
BP PLC (GB:BP.B) is schdueled to report earning on Feb 11, 2025, TBA Not Confirmed.
What is BP PLC (GB:BP.B) earnings time?
BP PLC (GB:BP.B) earnings time is at Feb 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.