BP Maintains Share Buybacks Even as Profit Misses Estimates

Bloomberg05-07

BP Plc maintained the pace of its share buybacks even as first-quarter profit fell by more than expected amid lower natural gas prices.The result marks the end of a mixed set of Big Oil earnings which...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1111882305?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-05-07 14:19","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1111882305","market":"us","top_or_hot":-1,"title":"BP Maintains Share Buybacks Even as Profit Misses Estimates","media":"Bloomberg","content":"<div>\n<p>BP Plc maintained the pace of its share buybacks even as first-quarter profit fell by more than expected amid lower natural gas prices.The result marks the end of a mixed set of Big Oil earnings which...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-05-07/bp-maintains-share-buybacks-even-as-profit-misses-estimates?srnd=homepage-asia\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BP Maintains Share Buybacks Even as Profit Misses Estimates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBP Maintains Share Buybacks Even as Profit Misses Estimates\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-07 14:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-05-07/bp-maintains-share-buybacks-even-as-profit-misses-estimates?srnd=homepage-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BP Plc maintained the pace of its share buybacks even as first-quarter profit fell by more than expected amid lower natural gas prices.The result marks the end of a mixed set of Big Oil earnings which...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-05-07/bp-maintains-share-buybacks-even-as-profit-misses-estimates?srnd=homepage-asia\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BP","symbol_name":"英国石油","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2024-05-07/bp-maintains-share-buybacks-even-as-profit-misses-estimates?srnd=homepage-asia","article_id":"1111882305","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1111882305","pubTimestamp":1715062779,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"BP Plc maintained the pace of its share buybacks even as first-quarter profit fell by more than expected amid lower natural gas prices.The result marks the end of a mixed set of Big Oil earnings which","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BP":"英国石油"},"translate_title":"尽管利润低于预期，英国石油公司仍坚持股票回购","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BP":1.1},"content_text":"BP Plc maintained the pace of its share buybacks even as first-quarter profit fell by more than expected amid lower natural gas prices.The result marks the end of a mixed set of Big Oil earnings which saw Shell Plc, TotalEnergies SE and Chevron Corp. do better than expected, while Exxon Mobil Corp.’s profit fell short. All of the companies kept their focus on returning cash to shareholders, while questions about production growth were also rising in prominence as the two US majors tussle over discoveries in Guyana.BP will repurchase $3.5 billion of shares in the first half of the year, matching the pace of prior quarters. The company also pledged to further reduce costs after changing its organizational structure.“We are simplifying and reducing complexity across BP and plan to deliver at least $2 billion of cash cost savings by the end of 2026,” BP Chief Financial Officer Murray Auchincloss said in a statement on Tuesday.Adjusted net income for the first three months of the year was $2.72 billion, compared with $4.96 billion a year earlier and $2.99 billion in the prior quarter. That missed the average estimate of $2.91 billion.Profits from BP’s oil trading business boosted results, an improvement from the fourth quarter where the unit was described as having “weak” performance. The company, like the rest of its Big Oil peers, doesn’t break down exactly how much its trading divisions make, but has said that the whole organization has delivered a 4% uplift to return on average capital employed over the past four years.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1111882305"}