BP Research | Milton Maxwell

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

FY Q4 '25

Buyback suspension locks in balance sheet focus

2/9/26Feb 9, 2026

Q&A reinforced the buyback suspension as key to accelerating balance sheet strength toward $14B-$18B net debt, with no automatic reinstatement trigger or timeline—pending new CEO Meg O'Neill's hopper review. Management was non-specific on finance cost cuts or optimal leverage, offering only rule-of-thumb math. Gordon Birrell detailed Bumerangue excitement but no partner rush or recoverables yet; trading's 4% ROACE splits 2% assets, 1% optimization, 1% trading. Analysts grilled capital discipline; replies touted cultural shifts, AI like Wells Advisor. Buybacks paused indefinitely.

Key Stats

Market Cap

86.10B

P/E (TTM)

55.34

Basic EPS (TTM)

0.61

Dividend Yield

0.01%

About

BP p.l.c., an integrated energy company, engages in the oil and gas business worldwide. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, marketing, and trading activities, as well as solar, wind, and hydrogen businesses. The company also offers aviation fuel products and services, such as jet fuel; aviation gasoline; UL91 aviation fuel; and sustainable aviation fuel. In addition, it engages in the convenience and retail fuel; EV charging; Castrol lubricants and fluids; B2B; midstream; crude oil production; refining and oil trading; and bioenergy businesses. BP p.l.c. was founded in 1908 and is headquartered in London, the United Kingdom.

CEO

Mr. Murray Auchincloss

IPO

1/2/1962

Website

https://www.bp.com

Employees

100,500

Sector

Energy

Industry

Oil & Gas Integrated