Wall Street analysts expect BP (BP) to post quarterly earnings of $0.68 per share in its upcoming report, which indicates a year-over-year decline of 32%. Revenues are expected to be $60.67 billion, up 25.7% from the year-ago quarter.
The current level reflects an upward revision of 8.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific BP metrics that are commonly monitored and projected by Wall Street analysts.
Analysts' assessment points toward 'Total revenues and other income- Sales and other operating revenues' reaching $47.01 billion. The estimate indicates a year-over-year change of -0.6%.
It is projected by analysts that the 'External sales and other operating revenues- oil production & operations' will reach $597.06 million. The estimate indicates a year-over-year change of -91%.
The consensus estimate for 'External sales and other operating revenues- customers & products' stands at $39.79 billion. The estimate indicates a year-over-year change of -3.2%.
According to the collective judgment of analysts, 'External sales and other operating revenues- other businesses & corporate' should come in at $110.85 million. The estimate indicates a change of -78.9% from the prior-year quarter.
The average prediction of analysts places 'Production (net of royalties) - Oil production & operations - Total hydrocarbons' at 1,490.32 thousands of barrels of oil equivalent per day. Compared to the current estimate, the company reported 1,481.00 thousands of barrels of oil equivalent per day in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Production (net of royalties) - Oil production & operations - Natural gas' will likely reach 2253 thousands of cubic feet per day. The estimate compares to the year-ago value of 2292 thousands of cubic feet per day.
The consensus among analysts is that 'Production (net of royalties) - Oil production & operations - Liquids' will reach 1,105.18 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 1,085.00 thousands of barrels of oil per day.
The collective assessment of analysts points to an estimated 'Refinery Throughput - Total' of 1,293.25 thousands of barrels of oil per day. The estimate compares to the year-ago value of 1,392.00 thousands of barrels of oil per day.
Analysts expect 'Refinery Throughput - US' to come in at 560.55 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 670.00 thousands of barrels of oil per day.
Analysts forecast 'Average realizations - Liquids - BP Average' to reach 60 dollars per barrel. The estimate compares to the year-ago value of 73 dollars per barrel.
Analysts predict that the 'Production (net of royalties) - Oil production & operations - Natural gas - Rest of World' will reach 396 thousands of cubic feet per day. The estimate is in contrast to the year-ago figure of 387 thousands of cubic feet per day.
Based on the collective assessment of analysts, 'Refinery Throughput - Europe' should arrive at 730.45 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 722.00 thousands of barrels of oil per day.
View all Key Company Metrics for BP here>>>
Shares of BP have demonstrated returns of +2.7% over the past month compared to the Zacks S&P 500 composite's +0.6% change. With a Zacks Rank #3 (Hold), BP is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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BP p.l.c. (BP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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