What caused BP's earnings to rebound in Q4?


Aime
BP's earnings rebounded in Q4 2024, despite previous quarter's decline, due to Oil Production & Operations segment performance. Here's a detailed analysis:
- Revenue by Business Segment: BP's revenue was largely driven by the Oil Production & Operations segment, contributing $2.4 billion1. This segment's performance was critical in boosting overall earnings.
BP Revenue By Business
Date | Business Composition | Revenue By Business |
---|---|---|
20240101-2024 | Other Businesses and Corporate | 658.00M |
20240101-2024 | Other Businesses and Corporate | 393.00M |
20240101-2024 | Other Businesses and Corporate | 354.00M |
20240101-2024 | Oil Production & Operations | 519.00M |
20240101-2024 | Customers & Products | 39.60B |
20240101-2024 | Other Businesses and Corporate | 354.00M |
20240101-2024 | Gas & Low Carbon Energy | 8.41B |
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- Earnings Surprise: Although BP missed revenue expectations, it surpassed earnings per share (EPS) estimates, with an EPS of $1.00, compared to the estimated $0.922. This positive surprise contributed to the earnings rebound.
- 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 conditions3.
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.
Source:
1.
BP Net Income by Business
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