BP Full Year 2024 Earnings: Misses Expectations

BP (LON:BP.) Full Year 2024 Results

Key Financial Results

• Revenue: US$187.4b (down 10% from FY 2023).
• Net income: US$370.0m (down 98% from FY 2023).
• Profit margin: 0.2% (down from 7.3% in FY 2023).
• EPS: US$0.023 (down from US$0.88 in FY 2023).

BP. Production

Combined production

• Oil equivalent production: 846.193 MMboe (829.403 MMboe in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

BP Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 90%.

The primary driver behind last 12 months revenue was the Customers & Products segment contributing a total revenue of US$155.4b (83% of total revenue). Notably, cost of sales worth US$140.5b amounted to 75% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$16.6b (36% of total expenses). Explore how BP.'s revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 1.3% decline forecast for the Oil and Gas industry in the United Kingdom.

Performance of the British Oil and Gas industry.

The company's shares are up 8.0% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 3 warning signs for BP you should be aware of.

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