Plus   Neg

BP Plc Q4 Underlying RC Profit Falls - Quick Facts

BP Plc (BP.L,BP_UN.TO,BP) reported fourth quarter profit to shareholders of $1.36 billion, compared to $19 million, prior year. Earnings per ADS was $0.40 compared to $0.01. The reported result included $2.3 billion gain on disposal from the sale of the company's petrochemicals business. Underlying replacement cost profit was $115 million, compared to $2.57 billion, a year ago. Underlying RC profit per ADS was $0.03 compared to $0.76.

Fourth quarter sales and other operating revenues declined year-on-year to $44.79 billion from $71.11 billion. Total revenues and other income was $48.57 billion compared to $72.17 billion.

For the full year, underlying replacement cost loss was $5.69 billion, compared to profit of $9.99 billion, last year. Full year sales and other operating revenue declined to $180.37 billion from $278.40 billion. Total revenues and other income was $183.50 billion compared to $282.62 billion.

BP announced a quarterly dividend of 5.25 cents per ordinary share ($0.315 per ADS), which is expected to be paid on 26 March 2021.

Net debt at 31 December 2020 was $38.9 billion, compared to $45.4 billion a year ago. Net debt was down $1.4 billion over the quarter.

"We remain on track to meet our target of $35 billion between the fourth quarter of 2021 and first quarter of 2022, which will trigger the start of share buybacks, subject to maintaining a strong investment grade credit rating," said Murray Auchincloss, CFO.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Credit Suisse Group AG were losing around 6 percent in Swiss trading after the banking major slipped to a loss in its first quarter from a profit last year on hefty charge related to a US-based hedge fund. Net revenues, however, were significantly higher. Looking ahead, the company expects market volumes to return to lower, and more normal, levels in the coming quarters. Metal Ware Corp. is recalling about 5,350 units of NESCO coffee bean roasters citing fire risk, the U.S. Consumer Product Safety Commission said in a statement. The recall involves Model CR-04-13 Coffee Bean Roasters with a date code of 2520 or 3220 printed at the bottom right of the ETL Intertek label on the product and on the box. Pfizer has uncovered the counterfeit versions of its Covid-19 vaccine in Mexico and Poland, according to a Wall Street Journal report. The vaccine was developed in partnership with Germany's BioNTech SE. Though there have been several reports of counterfeit versions of the Covid-19 vaccine, this seems to be the first confirmed instance.
Follow RTT