Core Insights - BP plc reported third-quarter 2025 adjusted earnings of 85 cents per American Depositary Share, exceeding the Zacks Consensus Estimate of 72 cents and improving from 83 cents a year ago [1][10] - Total quarterly revenues reached $49.3 billion, which was below the Zacks Consensus Estimate of $63 billion but an increase from $48.3 billion reported in the previous year [1][10] Operational Performance - BP's total oil production for the third quarter was 1,556 thousand barrels of oil equivalent per day (Mboe/d), up from 1,488 Mboe/d in the same quarter last year, surpassing the estimate of 1,441.3 Mboe/d [3] - The company sold liquids at an average price of $59.58 per barrel, down from $70.22 a year ago, while natural gas was sold at $3.32 per thousand cubic feet (mcf), up from $2.25 [4] - Overall hydrocarbon price realization decreased to $47.89 per Boe from $53.65 year over year [4] Segment Performance - Underlying replacement cost earnings before interest and tax for the oil segment were $2.3 billion, below the $2.8 billion from the previous year but meeting estimates [5] - The Gas & Low Carbon Energy segment reported profits of $1.52 billion, down from $1.76 billion year over year, with total production declining to 806 Mboe/d from 890 Mboe/d [6] - The Customers & Products segment saw underlying replacement cost earnings before interest and tax rise to $1,716 million, significantly higher than $381 million in the prior year, driven by higher refining margins [7] Refining and Capital Expenditure - BP's refining availability improved to 96.6% from 95.6% in the previous year, with total refinery throughputs increasing to 1,516 thousand barrels per day (MBbl/D) from 1,440 MBbl/D [8] - Organic capital expenditure for the quarter totaled $3.33 billion, with total capital spending at $3.4 billion [11] Financials - BP's net debt stood at $26.1 billion at the end of the third quarter, with a gearing ratio of 25.1% [12] Outlook - For the fourth quarter of 2025, BP expects upstream production to remain flat compared to the previous quarter, with a seasonal decline anticipated in its customers' business [13] - The company forecasts slightly lower overall upstream production for 2025 compared to 2024, with growth expected in the customer segment supported by cost reductions [14]
BP Q3 Earnings Beat on Higher Oil Production, Revenues Rise Y/Y