BP PLCBP
▲ PositiveCapitalrelevance
Profit more than doubled, dividend raised, and net debt fell sharply.
Impact on stocks 1
Energy Transition & Power Demand
BP PLCBP Shares Rise 2.1% After Profit More Than Doubles
EarningsCorporate Action
BP's U.S.-listed shares jumped roughly 2.1% after the company reported underlying replacement-cost profit surged to $5.7 billion, more than double the $2.35 billion earned a year ago. The dividend is going up 4%, while net debt fell by roughly $3 billion in a single quarter. Chief Executive Meg O'Neill is pushing a divestment push targeting $20 billion through 2027, with the U.S. biogas operation Archaea heading for the exit. The stock trades about 8.4% above its $39.34 GF Value estimate at $42.66.
BP PLCProfit more than doubled, dividend raised, and net debt fell sharply.