BP plc (BP) Tops Q3 EPS by 8c
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BP plc (NYSE: BP) reported Q3 EPS of $0.40, $0.08 better than the analyst estimate of $0.32.
BP’s third-quarter replacement cost (RC) profit was $1,234 million, compared with $2,385 million a year ago. After adjusting for a net charge for non-operating items of $756 million and net favourable fair value accounting effects of $171 million (both on a post-tax basis), underlying RC profit for the third quarter was $1,819 million, compared with $3,037 million for the same period in 2014. For the nine months, RC loss was $2,929 million, compared with a profit of $9,042 million a year ago. After adjusting for a net charge for non-operating items of $8,655 million and net favourable fair value accounting effects of $17 million (both on a post-tax basis), underlying RC profit for the nine months was $5,709 million, compared with $9,897 million for the same period in 2014. Non-operating items include a restructuring charge of $151 million for the quarter and $638 million for the nine months. Cumulative restructuring charges from the beginning of the fourth quarter 2014 are expected to total around $2.5 billion by the end of 2016.
For earnings history and earnings-related data on BP plc (BP) click here.
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