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BP plc (BP) Tops Q1 EPS by 1c
April 26, 2016 9:08 AM EDTBP plc (NYSE: BP) reported Q1 EPS of ($0.16), $0.01 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $38.51 billion versus the consensus estimate of $42.99 billion.
BPs first-quarter replacement cost (RC) loss was $485 million, compared with a profit of $2,103 million a year ago. After adjusting for a net charge for non-operating items of $778 million and net unfavourable fair value accounting effects of $239 million (both on a post-tax basis), underlying RC profit for the first quarter was $532 million, compared with $2,577 million for the same period in 2015. Cumulative restructuring charges from the beginning... More