Factors Likely to Determine the Fate of BP in Q4 Earnings

BP plc (BP) is set to report fourth-quarter 2023 earnings on Feb 6.In the last reported quarter, the company’s earnings of $1.15 per share missed the Zacks Consensus Estimate of $1.37 due to lower realizations of commodity prices and a decline in refinery throughputs. BP’s earnings missed the Zacks Consensus Estimate in three of the trailing four quarters and beat the same once, delivering an average negative surprise of 4.7%. This is depicted in the graph below.Estimate TrendThe Zacks Consensus Estimate fo ...