BP : Q1 2024 results beat expectations at the operating level but a miss at the NI and CFFO level
>A new cost saving plan of $ 2bn with SBB maintained as expected - Adjusted EBIT came in at $ 5.95bn, 2.1% above the consensus (ODDO BHF: $ 5.74bn, consensus: $ 5.83bn). The group generated net adjusted profit of $ 2.72bn, 5% below estimates (ODDO BHF: $ 2.90bn; consensus: $ 2.87bn) and down 9% q-o-q. Results by division were as follows:Gas and low carbon came in at $ 1.66bn, down 6.7% q-o-q and 3.6% above expectations (ODDO BHF & consensus: $ 1.6bn), with foreig...BP is an integrated oil and gas group based in the United Kingdom. Co. is engaged in the exploration and production of crude oil and natural gas; refining, marketing, supply and transportation; and the manufacture and marketing of petrochemicals. Co. operates globally, with business activities in Europe, the U.S., Canada, Russia, South America, Australasia, Asia and parts of Africa. Co. operates in two business segments: Exploration and Production - including oil and natural gas exploration and development and production; and Refining and Marketing- activities include the refining, manufacturing, supply and trading, marketing and transportation of crude oil, petroleum and petrochemicals.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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