BP p.l.c. (BP) Reports Q1 Earnings Beat

BP p.l.c. (NYSE:BP) is one of the 10 Best European Stocks That Beat Earnings Estimates to Buy.

On April 28, 2026, BP p.l.c. (NYSE:BP) reported Q1 underlying EPS of $1.24 versus 93c consensus and revenue of $53.37B compared to $45.75B expected. The company said performance reflected “strong operational and financial delivery,” supported by high plant reliability, refining availability, and increased production in the Gulf of America and at BPX Energy.

BP p.l.c. (NYSE:BP) said it expects Q2 upstream production to be lower than Q1 due to seasonal maintenance in the Gulf of America and disruption in the Middle East, with volatility in oil and gas prices also affecting results. The company noted refining throughput will be impacted by higher turnaround activity, while margins across fuels and refining remain sensitive to supply costs and Middle East conditions. BP also plans to redeem EUR 2.5B of perpetual hybrid bonds in Q2 without replacement.

BP p.l.c. (NYSE:BP) reaffirmed its FY26 capital expenditure guidance of $13B to $13.5B and said upstream production is expected to be broadly flat versus 2025, with oil stable and gas and low carbon energy lower. The company continues to expect $9B to $10B in divestment proceeds in 2026, including about $6B from the Castrol transaction, and Gulf of America settlement payments of around $1.6B pre-tax for the year.

BP p.l.c. (BP) Reports Q1 Earnings Beat

Earlier in April, Scotiabank raised its price target on BP p.l.c. (NYSE:BP) to $58 from $41 and maintained an Outperform rating as part of a broader update across integrated oil, refining, and large-cap E&P stocks. The firm said its sector view is mixed, with earnings forecasts generally above consensus for E&P companies but below for independent refiners, and noted investor focus may shift to whether recent oil market volatility affects activity levels in 2026.

BP p.l.c. (NYSE:BP) operates an integrated energy business across oil, gas, and customer-facing segments globally.

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