What caused BP's earnings to rebound in Q4?

BP's earnings rebounded in Q4 2024, despite previous quarter's decline, due to **Oil Production & Operations** segment performance. Here's a detailed analysis: 1. **Revenue by Business Segment**: BP's revenue was largely driven by the **Oil Production & Operations** segment, contributing $2.4 billion. This segment's performance was critical in boosting overall earnings. |code|Ticker|Name|Date|Business Composition|Revenue By Business|market_code| |---|---|---|---|---|---|---| |BP|BP.N|BP|20240101-2024|Other Businesses and Corporate|6.58E8|169| |BP|BP.N|BP|20240101-2024|Other Businesses and Corporate|3.93E8|169| |BP|BP.N|BP|20240101-2024|Other Businesses and Corporate|3.54E8|169| |BP|BP.N|BP|20240101-2024|Oil Production & Operations|5.19E8|169| |BP|BP.N|BP|20240101-2024|Customers & Products|3.9602E10|169| |BP|BP.N|BP|20240101-2024|Other Businesses and Corporate|3.54E8|169| |BP|BP.N|BP|20240101-2024|Gas & Low Carbon Energy|8.405E9|169| 2. **Earnings Surprise**: Although BP missed revenue expectations, it surpassed earnings per share (EPS) estimates, with an EPS of $1.00, compared to the estimated $0.92. This positive surprise contributed to the earnings rebound. 3. **Cost Management**: BP's ability to manage costs effectively likely played a role in improving profitability. The company's focus on reducing expenses has been a key factor in maintaining profitability despite challenging market conditions. In conclusion, BP's Q4 earnings rebound can be attributed to strong performance in the **Oil Production & Operations** segment, a positive earnings surprise, and effective cost management. These factors combined to help BP achieve better financial results in the quarter.