BP reported its Q4 2023 earnings, with an adjusted EPS of $17.77, exceeding the estimated $16.27, and an adjusted net of $2.99B, surpassing the estimated $2.76B. The company also announced a share buyback of $3.5B for H1 of 2024 and $1.75B for Q4. The CEO emphasized a pragmatic approach to investments and highlighted strong growth in oil demand. BP's profit topped estimates, leading to the biggest gains in its shares in a year. The company aims to simplify its business and increase oil output, while also considering bringing in partners to its solar business. The new CEO promised a flexible approach to the shift away from fossil fuels, aiming to reassure investors of the company's discipline and resilience in the face of an uncertain outlook.
BP’s new chief executive promised a flexible approach to the shift away from fossil fuels as the oil giant reported a $3 billion profit in its latest quarter. https://t.co/ZPxDoRZHZ7
Big Oil offers record returns to lure investors back https://t.co/jAUlT9U883 https://t.co/bForWGAL6D
⚠️ BIG OIL OFFERS RECORD RETURNS TO LURE INVESTORS BACK (Reuters) Big Oil firms are handing shareholders more money than ever and are promising more going forward in an attempt to reassure investors of their discipline and resilience in the face of an uncertain outlook for… https://t.co/os9dEZtCRp
TotalEnergies CEO Patrick Pouyanné: "I think TotalEneries is a little boring to you. But it's better to be consistent, and for continued success." I agree. Big "boring" Oil is great. Keep it coming. https://t.co/bRiexbuJlw @Opinion #OOTT
Hydrocarbons win the ESG wars BP to Increase Oil Output, New Chief Says https://t.co/7i9VS7l0Fd
The British energy giant BP boosted share repurchases and vowed to make pragmatic investments, in moves to soothe investor concern over its energy transition plans after it posted a forecast-beating earnings of $3 billion in the fourth quarter https://t.co/8N6089TlVY https://t.co/PIhfkk1yu4
BP weighs bringing in partners to solar business, says CEO https://t.co/XnqAGmTgzb
BP’s new boss notched a big win, with the stock soaring on a profit beat and share buyback plan https://t.co/b2Ug8ORnuC
BP CEO calls for pragmatism on green aims as profits halve https://t.co/4N2oLD7ckN
[ UPDATED ] COLUMN: Long the paradigm of boom-and-bust cycles, Big Oil is starting to churn rather boring quarterly results. That's great news for shareholders. More in 2024, please: Boring but with lots of cash. #OOTT $XOM $CVX $SHEL $BP | @Opinion https://t.co/d35vLtfkui
BP to simplify business, become more pragmatic, CEO says https://t.co/iH5pJJU9no https://t.co/QJXYmYH2b5
British #energy giant #BP rebounds into vast profit in 2023, it says, after slumping into a loss the prior year on its exit from Russia following Moscow’s Ukraine invasion. https://t.co/1PDeXCAzgt
BP shares make biggest gains in a year on buyback plan as profit tops estimates https://t.co/9MOQFhpAtD
🔴 BP CEO: I SEE VERY STRONG GROWTH IN OIL DEMAND.
"Oil demand [growth] continues to be very strong" - BP CEO | #OOTT
BP will be "pragmatic" about the energy transition, says new CEO Murray Auchincloss | #OOTT $BP
BP to become more pragmatic in investments, CEO says #oott https://t.co/r1bC88xHYz
COLUMN: Long the paradigm of boom-and-bust cycles, Big Oil is starting to churn rather boring quarterly results. That's great news for shareholders. More in 2024, please. #OOTT $XOM $CVX $SHEL | via @Opinion https://t.co/bRiexbuJlw
$BP | BP Q4 23 Earnings: - Adj EPS $17.77 (est $16.27) - Adj Net $2.99B (est $2.76B) - Oper Cash Flow $9.38B (est $8.24B) - Debt Gearing 19.7% (est 19.2%) - Committed To $3.5B Share Buyback For H1 Of 2024 - Announces $1.75B Share Buyback For Q4