YPF Sociedad Anónima YPF gained 18.2% since it reported first-quarter 2025 earnings despite reporting a weak bottom line. The recent 90-day pause in the U.S.-China trade conflict, which cheered the broader market, primarily led to a surge in the stock price.
YPF’s Q1 Results
YPF reported first-quarter earnings of 62 cents per share, missing the Zacks Consensus Estimate of 73 cents. The bottom line also declined from the year-ago quarter’s profit of $1.66 per share.
Total quarterly revenues of $4.61 billion missed the Zacks Consensus Estimate of $4.92 billion. The top line, however, increased from the prior-year level of $4.31 billion. YPF currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
BP plc BP and Chevron Corporation CVX are two other leading energy companies that also reported first-quarter 2025 results.
BP reported adjusted earnings of 53 cents per American Depositary Share on a replacement-cost basis, excluding non-operating items. The figure lagged the Zacks Consensus Estimate of 56 cents. The bottom line also declined from the year-ago reported figure of 97 cents.
BP’s total quarterly revenues of $47.9 billion lagged the Zacks Consensus Estimate of $57.2 billion and declined from $49.9 billion reported a year ago.
The weak quarterly results of BP can be primarily attributed to lower liquid price realizations and weaker refining margins. Lower contributions from the company's customers and products business also affected the results. For more details, check our blog: BP's Q1 Earnings & Revenues Miss Estimates on Weak Refining.
On the other hand, Chevron reported adjusted first-quarter earnings per share of $2.18, beating the Zacks Consensus Estimate of $2.15. The outperformance stemmed from higher-than-expected U.S. natural gas production in the company’s key upstream segment. The unit’s domestic output of 2,859 million cubic feet per day (MMcf/d) topped the consensus mark of 2,666 MMcf/d. A healthy gain in the commodity’s U.S. realizations also aided it.
However, the bottom line of CVX lagged the year-ago adjusted profit of $2.93 due to weaker oil price realizations and a dip in refined product sales margins.
CVX generated revenues of $47.6 billion. The sales figure missed the Zacks Consensus Estimate of $48.7 billion and decreased 2.3% year over year. For more details, check our blog: Natural Gas Lifts Chevron Q1 Earnings Amid Oil Weakness.
YPF’s Q1 Operations
Upstream
In the quarter under review, YPF’s total volumes increased 4.9% year over year to 552.1 thousand barrels of oil equivalent per day (MBoe/d).
Crude oil production in the first quarter was 269.9 thousand barrels per day (MBbl/D), increasing 5.6% year over year. Meanwhile, YPF’s natural gas production increased 2.7%.
The average price realization for the company’s crude oil decreased 0.6% year over year, reaching $67.9 per barrel. Moreover, the average natural gas price realizations of natural gas declined 0.3% year over year to $3 million British thermal unit (MMBTU).
Declining commodity price realizations have led to YPF’s EBITDA from upstream activities to fall 8% year over year to $766 million.
Midstream & Downstream
YPF reported its Refineries’ Utilization Rate in the first quarter at 94%, which improved from 89% in the prior-year quarter.
The company’s adjusted EBITDA from the Midstream & Downstream segment was reported at $504 million, down 12% year over year. Higher crude oil purchases primarily hurt the results.
Cash Flow of YPF
Net cash flow provided by operating activities in the quarter totaled $850 million. Free cash outflow for the quarter was reported at $957 million.
Balance Sheet
As of March 31, 2025, the company’s cash and short-term investments were $1,2 billion, and its total debt amounted to $9.6 billion.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
BP p.l.c. (BP): Free Stock Analysis Report Chevron Corporation (CVX): Free Stock Analysis Report YPF Sociedad Anonima (YPF): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
