The 10-second takeaway
For the quarter ended Sep. 30 (Q3), BP crushed expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share grew.
Margins grew across the board.
BP notched revenue of $90.59 billion. The two analysts polled by S&P Capital IQ anticipated a top line of $70.58 billion on the same basis. GAAP reported sales were 5.0% lower than the prior-year quarter's $95.38 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 $1.63. The 10 earnings estimates compiled by S&P Capital IQ forecast $1.32 per share. GAAP EPS of $0.28 for Q3 were 7.7% higher than the prior-year quarter's $0.26 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 14.8%, 250 basis points better than the prior-year quarter. Operating margin was 7.1%, 120 basis points better than the prior-year quarter. Net margin was 6.0%, 70 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $89.09 billion. On the bottom line, the average EPS estimate is $1.63.
Next year's average estimate for revenue is $349.45 billion. The average EPS estimate is $5.57.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 4,914 members out of 5,237 rating the stock outperform, and 323 members rating it underperform. Among 1,090 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,041 give BP a green thumbs-up, and 49 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 $48.53.
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