LONDON (dpa-AFX) - BP Plc (BP.L) Tuesday reported profit before tax of $3.13 billion for the first quarter, lower than $4.633 billion in the same quarter a year ago, primarily due to decrease in revenues.
Net profit declined to $687 million or 4.27 cents per share from $2.263 billion or 13.25 cents per share last year.
Excluding inventory holding gains, Replacement cost (RC) profit was $569 million, down from $1.606 billion a year ago.
Underlying RC profit decreased to $1.381 billion or 8.75 cents per share from $2.723 billion or 16.24 cents per share in the prior year. Underlying RC profit per ADS decreased to $0.53 from $0.97 last year.
Sales and other operating revenues dropped to $46.905 billion from $48.880 billion in the previous year.
bp has announced an interim dividend of 8 cents per share for the quarter, to be paid on June 27 to ordinary shareholders and American Depositary Share (ADS) holders on the register on May 16. The ex-dividend date will be May 15 for ordinary shareholders and May 16 for ADS holders.
Additionally, the company announced a share buyback of $750 million for the first quarter.
For the second quarter, bp expects upstream production to be broadly flat quarter-on-quarter.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
