BP : Q3 results largely above forecasts but CFFO stable - Cash payment for BHP assets
>Net profit 34% above forecasts - Adjusted operating profit was $Â 6.715bn in Q3, 23.7% above forecasts (Oddo BHF: $Â 5.2bn, consensus: $Â 5.4bn) up sharply by 24% q-o-q and +91% y-o-y. Adjusted attributable net profit came in 34.7% above the consensus at $Â 3.838bn, driven by all divisions and a more favourable tax rate of 38% vs 42% in Q2 which should take the annual tax rate to less than 40%.Upstream: favourable momentum with new accretive volumes - O...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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