Bp P.l.c Stock Earnings Reports

BP delivered a strong Q3 2025 with solid operational execution and financial performance. Underlying pretax earnings were $5.3bn, underlying net income $2.2bn, and operating cash flow was $7.8bn, supporting the company’s target of 20% CAGR adjusted free cash flow growth for 2025–27. Upstream production rose ~3% Q/Q with plant reliability ~97%, prompting an upgrade to full-year production guidance. The company started up six major projects in 2025 (four ahead of schedule) and reported 12 exploration discoveries, led by the large Bumerangue find in Brazil (1,000m column with 100m oil and 900m rich gas condensate); appraisal and flow-testing are planned with a rig secured. Downstream and Customers showed notable improvement (customers’ best 3Q on record; refining availability ~97%), helped by cost reductions and a better margin environment. BP reiterated disciplined capital allocation with organic CapEx on track to be below $14bn and progress on a $20bn divestment program (about $5bn of proceeds announced/completed to date). The company emphasized AI and data-platform investments (partnering with Palantir and Databricks) to boost reliability, predictive maintenance and planning efficiency. BPX (US onshore) continues strong productivity and liquids growth (c. $2.5bn/yr CapEx baseline); management is considering portfolio choices to balance near-term vs long-term production growth. Balance-sheet focus remains on materially reducing net debt by end-2027, while derisking pension liabilities and progressing strategic reviews (Castrol, Gelsenkirchen, Lightsource). BP also won an arbitration decision versus Venture Global (next stage on damages pending).