BP Q1 Profit Soars to $3.84bn as Revenue Hits $53.37bn
BP posted Q1 profit of $3.84bn, with adjusted EPS of $1.24 beating the $0.91 consensus, and underlying replacement cost profit rose to $3.2bn from $1.38bn a year ago. Revenue totaled $53.37bn as traders profited from Middle East-driven volatility, lifting shares up 32% year-to-date and 57% over 12 months.
1. Q1 Earnings Results
BP reported first-quarter net profit of $3.84 billion, translating to adjusted earnings of $1.24 per share versus the $0.91 analyst consensus. Underlying replacement cost profit climbed to $3.2 billion from $1.38 billion in the prior-year period, while revenue reached $53.37 billion.
2. Impact of Middle East Volatility
Heightened volatility linked to the conflict in the Middle East drove stronger trading margins, as BP’s oil and gas traders capitalized on price swings. This trading uplift contributed materially to the beat in both adjusted earnings and underlying profit.
3. Share Price Performance
BP shares have increased 32% since the start of the year and 57% over the past 12 months, reflecting investor optimism around elevated oil prices and the company’s successful trading activities.