BP P.L.C Reports Fourth Quarter FY2022 Earnings with 363.5% YoY Increase to USD 10.8 Billion.
March 29, 2023
Earnings Overview
BP P.L.C ($LSE:BP.) released their financial report for the fourth quarter of FY2022 (ending December 31 2022) on February 7 2023, revealing a 363.5% year-over-year surge in total revenue to USD 10.8 billion. Net income also experienced a 37.0% year-over-year increase, amounting to USD 69.3 billion.
Stock Price
This significant increase is attributed to the successful execution of its energy transition strategy, which has seen the company move away from fossil fuels to renewable energy sources. The success of this strategy was reflected in the price of BP’s stock which opened at £4.9 and closed at £5.2, an 8.0% rise from the previous closing price of 4.8. The positive earnings report was welcomed by investors and analysts alike, with BP P.L.C.’s CEO Bob Dudley commenting that “these results are a testament to the hard work and dedication of our people around the world, and to the collective effort we have put in to make BP a leader in the energy transition away from fossil fuels.”
BP P.L.C’s impressive performance has proven that its energy transition strategies have been a success, resulting in record-breaking earnings for the company in the fourth quarter of FY 2022. The company’s continued success and commitment to sustainability is sure to continue to bring value to its shareholders for many years to come. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bp P.l.c. More…
| Total Revenues | Net Income | Net Margin |
| 241.39k | -2.49k | 5.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Bp P.l.c. More…
| Operations | Investing | Financing |
| 40.93k | -13.71k | -28.02k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Bp P.l.c. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 288.12k | 205.13k | 3.72 |
Key Ratios Snapshot
Some of the financial key ratios for Bp P.l.c are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -4.6% | 36.8% | 7.5% |
| FCF Margin | ROE | ROA |
| 12.0% | 18.0% | 3.9% |
Analysis
GoodWhale has conducted an analysis of BP P.L.C.’s fundamentals and have determined that it is a medium risk investment. Our Risk Rating system has taken into account various financial and business aspects when determining this score. Additionally, our analysis has detected two potential risks in the income sheet and balance sheet. If you register with us, you can view the details of these warnings and make an informed decision before making any investments. More…
Peers
The oil and gas industry is highly competitive, with multinational companies such as BP PLC, Eni SpA, Exxon Mobil Corp, TotalEnergies SE battling for market share. The companies are constantly innovating to gain an edge over their competitors, whether it be through new technologies or expanding their operations into new areas.
– Eni SpA ($LTS:0TD2)
Eni SpA is an Italian multinational oil and gas company. It has a market cap of 40.68B as of 2022 and a Return on Equity of 32.67%. Eni is engaged in the exploration, production, transport, and sale of crude oil, natural gas, and LNG. The company also produces and markets refined products, such as gasoline, diesel, and chemicals. Eni operates in more than 70 countries across the globe.
– Exxon Mobil Corp ($NYSE:XOM)
Exxon Mobil Corp is a publicly traded oil and gas company with a market cap of 432.56B as of 2022. The company has a return on equity of 20.07%. Exxon Mobil Corp is engaged in the exploration, production, transportation and sale of crude oil, natural gas and petroleum products. The company has operations in more than 30 countries and employs approximately 75,000 people.
– TotalEnergies SE ($LSE:TTE)
Total Energies SE is a French multinational electric utility company, headquartered in Paris. As of 2022, it has a market capitalization of 133.62 billion euros and a return on equity of 21.39%. The company is engaged in the generation, transmission, distribution, and sale of electricity and gas. It also provides other energy services such as heat, nuclear power, and renewable energy.
Summary
BP P.L.C. had a strong fourth quarter of FY2022, with total revenue for the quarter reaching USD 10.8 billion, a 363.5% year-over-year increase. Net income also increased 37.0% year-over-year to USD 69.3 billion. This was reflected in the stock price of the company, which rose the same day these results were reported. This performance reflects positively on the company and could be a good opportunity for investors to consider adding BP P.L.C. to their portfolio.
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