The 10-second takeaway
For the quarter ended March 31 (Q1), BP beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue improved, while GAAP earnings per share dropped significantly.
Margins shrank across the board.
BP recorded revenue of $94.04 billion. The three analysts polled by S&P Capital IQ foresaw a top line of $88.56 billion on the same basis. GAAP-reported sales were 12% higher than the prior-year quarter's $85.33 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.50. The eight earnings estimates compiled by S&P Capital IQ forecast $1.62 per share. GAAP EPS of $0.31 for Q1 were 18% lower than the prior-year quarter's $0.38 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 15.2%, 270 basis points worse than the prior-year quarter. Operating margin was 8.3%, 180 basis points worse than the prior-year quarter. Net margin was 6.2%, 210 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $94.26 billion. On the bottom line, the average EPS estimate is $1.81.
Next year's average estimate for revenue is $363.84 billion. The average EPS estimate is $6.73.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 4,905 members rating the stock outperform and 334 members rating it underperform. Among 1,050 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 998 give BP a green thumbs-up, and 52 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on BP is outperform, with an average price target of $52.39.
How did BP treat you during the oil spike in 2008 and the subsequent bust? More importantly, what are you doing to prepare for the next spike that some experts believe may be just around the corner? Prepare yourself with a well-positioned energy stock we profile in "The Only Energy Stock You'll Ever Need." Click here for instant access to this free report.
- Add BP to My Watchlist.