Share BP (BP) Q3 2026 Earnings Review: Stronger cash generation cuts net debt by $8.4 billion
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BPBP · Oil & Gas Integrated
BP · October 30, 2026Before open · Since the previous regular close
-0.22%Session snapshot

BP (BP) Q3 2026 Earnings Review: Stronger cash generation cuts net debt by $8.4 billion

Earnings results

  • EPS beat

    Actual: $3.26 underlying per US-listed share · Cons.: $2.66

  • Revenue beat

    Actual: $68.399B · Cons.: $63.14B

  • Guidance narrowed

    FY2026 production: 2.21–2.25 million barrels of oil equivalent a day vs. 2.18–2.27 million.

By Stocks To Buy Now AI ResearchPublished

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BP-branded petrol station in Cunnamulla, Queensland.
BP petrol station in Cunnamulla, Queensland, photographed in December 2024. Photo: Chris Olszewski / Wikimedia Commons · CC BY-SA 4.0 · Wikimedia-supplied thumbnail; displayed with a responsive crop.
THE CATALYST

What the company reported

BP’s third-quarter earnings beat forecasts as stronger refining margins and cash generation helped cut net debt by $8.4 billion, giving its December strategy update a firmer financial footing.

AT A GLANCE

Q3 2026 earnings recap

BP’s third-quarter earnings beat forecasts as stronger refining margins and cash generation helped cut net debt by $8.4 billion, giving its December strategy update a firmer financial footing.

  • Underlying profit per US-listed share, excluding inventory effects and specified costs, reached $3.26 versus the $2.66 forecast, while revenue of $68.4 billion beat the $63.14 billion estimate.
  • Operating cash flow rose to $14.83 billion from $10.86 billion in the second quarter, helping reduce net debt to $13.87 billion.
  • BP narrowed its full-year production outlook to 2.21–2.25 million barrels of oil equivalent a day from 2.18–2.27 million and expects a significantly lower fourth-quarter customers-business result.
  • Reported quarterly profit was $4.7 billion after $4.07 billion in net asset write-downs, largely tied to energy-transition businesses, highlighting the cost of earlier investments.
  • The pending Castrol sale is expected to bring in $6 billion, adding capacity to strengthen the balance sheet once the transaction closes.
  • At the October 29 close, shares traded near 15 times trailing reported diluted profit, with support around $48.5–49.20 and resistance near $50.7–51.50.

The December 15 strategy update is the next major test of capital discipline, while volatile energy prices, refining margins and Middle East disruption remain key risks.

THE VISUAL RESEARCH

Financials, technicals and earnings

Charts through Oct 29, 2026.

Financials
Technicals
Earnings & peers
WHAT TO WATCH

Technical setup and risks

Stronger refining and cash generation reduce debt ahead of the December strategy update; transition write-downs and softer customer earnings temper the outlook.

AI-assisted earnings research with verified issuer results. Charts use the stated completed session. Educational information; investing involves risk.

EXPLORE COMPANY RESEARCH

BP p.l.c.: the full stock picture

Earnings history, financials, price action and peer comparisons — all below.
Open BP stock page ↗

EXPLORE THE COMPANY

BP p.l.c. (BP)

Explore earnings, price action, financials and industry comparisons.

Symbol
BP
Sector
Energy
Industry
Oil & Gas Integrated
Instrument type
EQUITY

Profile information from our saved company catalog. This is not a live quote or confirmation of current listing status.

EARNINGS & COMPANY RESEARCH

BP earnings, valuation & price action

View in calendar ↗
NEXT EXPECTED REPORTOct 30 2026Before open · ET
EPS ESTIMATE2.66
REVENUE ESTIMATE63.14B

Expected dates may change. Estimates use the source’s reporting currency. Quotes and research are snapshots, not live prices.

COMPANY RESEARCH · Energy

BP p.l.c. BP

Oil & Gas Integrated · Updated 10/29/2026

Adjusted closing price · USD50.35 Oct 29
29374552Oct 28Apr 30Oct 29
Price50-day average200-day average+53.6% in view
VALUATION & EXPECTATIONS
Trailing P/E23.9×
Forward P/EN/A
Trailing P/S0.6×
Forward P/SN/A
EPS beat rate75%
Revenue beat rate75%
Positive window50%

EPS beats: 6 of 8 comparable reports. Positive price windows: 4 of 8.

Market caps may be up to 14 days old; prices up to seven days old; ratios and analyst estimates up to fourteen days old. Forward multiples use consensus for the fiscal year ending 2026-12-31, not the next 12 months. Negative or unavailable earnings multiples show “N/A”. Forward ADR multiples are omitted when the currency/share basis is not reconciled.

50-day average45.86
200-day average42.31
RSI (14)63
20-day range44.50 – 51.32
Relative volume0.8×
1-year change+53.6%
Last eight reported earnings for BP
Report dateEPS estimateEPS actualSurpriseResultRevenue actualPrice window*5 sessions*
Aug 4 20261.982.22+12.1%Beat69.11B-6.9%-2.5%
Apr 28 20260.911.24+36.3%Beat52.26B+1.8%+1.1%
Feb 10 20260.570.60+5.3%Beat47.38B-1.7%-1.7%
Nov 4 20250.720.85+18.1%Beat48.39B+2.3%+7.1%
Aug 5 20250.680.90+32.4%Beat47.18B+4.3%+4.9%
Apr 29 20250.560.53-5.4%Miss46.91B-5.7%-2.5%
Feb 11 20250.560.44-21.4%Miss45.75B+0.8%+0.4%
Oct 29 20240.780.83+6.4%Beat47.25B-6.5%-3.5%

*Adjusted close before the report date to the first (or fifth) trading close after it. This window can span two sessions and is not an isolated earnings-day return. Figures may be revised by the provider.

More BP research Data,
02 / FINANCIALS

BP p.l.c. financials

Revenue, earnings, cash flow and financial strength in one view.

Reporting currency unconfirmed.

Revenue
Net income
Gross profit
Operating income
EBITDA
Operating cash flow
Capital expenditure
Cash
Total assets
Total liabilities
Shareholder equity
Total debt
Net profit margin
Gross margin
Short interest: days to cover
How to read these financial metrics

Figures use the app’s saved statements for the displayed period, not a trailing-year total. Margins divide profit by revenue; quick ratio uses current assets less inventory divided by current liabilities. Compare dates and currencies before comparing companies.

03 / WHAT COMES NEXT

BP p.l.c. event catalysts

Company earnings and scheduled market events that may change expectations.

2026-10-30

BP earnings

Watch reported results, management’s outlook and the share-price reaction.

See earnings expectations ↑
2026-10-308:30 AM ET

Employment Cost Index

Persistent compensation pressure can affect margins and the inflation outlook.

Release schedule ↗Scheduled
2026-10-30Market close

Russell indexes · rank day

A ranking checkpoint, not an announcement that a particular stock has been included.

Release schedule ↗Scheduled
2026-11-0210:00 AM ET

ISM manufacturing PMI

Watch new orders and prices paid for the balance between demand and inflation.

Release schedule ↗Scheduled
2026-11-0310:00 AM ET

JOLTS job openings

Watch vacancies and quits for signs of labor-market cooling.

Release schedule ↗Scheduled
2026-11-0410:00 AM ET

ISM services PMI

Services prices and employment can influence the outlook for inflation and rates.

Release schedule ↗Scheduled
2026-11-058:30 AM ET

Initial jobless claims

Use the multiweek trend to distinguish normal volatility from a sustained increase in layoffs.

Release schedule ↗Scheduled
2026-11-068:30 AM ET

Jobs report · payrolls & unemployment

Read revisions and wages alongside the headline. Strong hiring can support demand but also lift rate expectations.

Release schedule ↗Scheduled
2026-11-0610:00 AM ET

Consumer sentiment · preliminary

Watch changes in inflation expectations as well as sentiment.

Release schedule ↗Scheduled

Dates use U.S. Eastern time and can change. Calendar events provide context; they do not determine the direction of a stock move.

04 / SIDE BY SIDE

Compare BP with its peers

Oil & Gas Integrated · Compare valuation, financial strength and price performance.

Companies with valuation data5
Peer median positive P/E13.7×
BP P/E23.9×
BP peer comparison: valuation
CompanyPriceMarket capP/EForward P/EP/SForward P/S
BPBP p.l.c.2026-10-29 · USD50.35129.53B23.9×0.6×
2222.SRSaudi Arabian Oil Company
CVXChevron Corporation2026-10-29 · USD231.46449.38B21.7×13.3×2.2×1.8×
EEni S.p.A.2026-10-29 · USD60.1885.57B14.8×0.9×
EQNREquinor ASA2026-10-29 · USD47.58110.98B12.6×1.0×
PBRPetróleo Brasileiro S.A. - Petrobras2026-10-29 · USD21.90165.62B6.2×1.5×
PCCYFPetroChina Company Limited
BP23.9×
CVX21.7×
E14.8×
EQNR12.6×
PBR6.2×

The peer median excludes the selected stock and is based on 4 available positive multiples. P/E median excludes negative or missing earnings multiples. Peer reports can have different fiscal periods and currencies; values are not currency-converted.

05 / PEER ANALYSIS

Explore BP alongside its peers

Oil & Gas Integrated · 10 companies · Cached market data

Comparison

Compare companies

Tap a bubble to inspect a company, then × to hide it. Undo restores the last company hidden. Bubble area reflects market cap, with a minimum size for visibility.

Price / sales
0.1×00.9×271.06B1.8×542.12B2.7×813.18BXOM · ExxonMobils Market cap: 729.95B Price / sales: 2.0×CVX · Chevron Market cap: 449.38B Price / sales: 2.2×SHEL · Shell Market cap: 301.27B Price / sales: 1.0×PBR · Petroleo Brasileiro Petrob Market cap: 165.62B Price / sales: 1.5×EQNR · Equinor ASA Market cap: 110.98B Price / sales: 1.0×E · ENI S.p.A. Market cap: 85.57B Price / sales: 0.9×CVE · Cenovus Energy Market cap: 61.17B Price / sales: 1.6×EC · Ecopetrol Market cap: 36.35B Price / sales: 0.9×BP · BP p.l.c. Market cap: 129.53B Price / sales: 0.6×Hide BP · Undo restores itMarket cap
BPBP p.l.c.

Market cap: 129.53B
Price / sales: 0.6×

Valuation snapshot: 2026-10-29 · Financial period: 2026-06-30
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9 of 10 companies have both plotted values.

P/S distribution

Trailing price-to-sales multiples · 9 companies

Median P/S1.0×
Middle 50%0.9× to 1.6×
BP P/S0.6×
BP
0.5×2.3×

Tap a bar to see the companies in that P/S range. BP has a higher P/S than 0% of this group.

1 companies excluded from P/S statistics because sales are non-positive or the saved multiple is missing. Statistics include all valid positive values, including those outside the focused chart range.

Companies

Showing 8 of 10 matching companies · Largest market cap first

  • Market cap 729.95BP/E 22.8×P/S 2.0×Forward P/E Forward P/S Price snapshot: 2026-10-29 · Financials: 2026-06-30
    ↗
  • Market cap 449.38BP/E 21.7×P/S 2.2×Forward P/E Forward P/S Price snapshot: 2026-10-29 · Financials: 2026-06-30
    ↗
  • Market cap 301.27BP/E 11.4×P/S 1.0×Forward P/E Forward P/S Price snapshot: 2026-10-29 · Financials: 2026-06-30
    ↗
  • Market cap 165.62BP/E 6.2×P/S 1.5×Forward P/E Forward P/S Price snapshot: 2026-10-29
    ↗
  • Market cap 129.53BP/E 23.9×P/S 0.6×Forward P/E Forward P/S Price snapshot: 2026-10-29 · Financials: 2026-06-30
    ↗
  • Market cap 110.98BP/E 12.6×P/S 1.0×Forward P/E Forward P/S Price snapshot: 2026-10-29
    ↗
  • Market cap 85.57BP/E 14.8×P/S 0.9×Forward P/E Forward P/S Price snapshot: 2026-10-29
    ↗
  • Market cap 77.91BP/E P/S Forward P/E Forward P/S Catalog snapshot
    ↗

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U.S.-listed companies from the app’s catalog. Medians use saved positive P/E values; coverage and snapshot dates vary.

How this comparison works

Uses the saved companies from the same industry and listing market, including BP, ordered by cached market cap. Company snapshots can have different dates; the web cache may cover fewer metrics and periods than the app.

Periods end at each company’s dated price snapshot. Change compares the latest saved observation with one at or before the selected period’s start. A daily price change uses consecutive saved sessions. Financial data updates quarterly, so short periods may show no change. Missing history and zero starting values are excluded; a negative starting value uses its absolute value as the denominator.

Metrics use saved ratios and percentages. Market caps use the listing market’s reporting currency; underlying financial statements may use different currencies. Circle sizes have a minimum for touch visibility, and an outlined circle indicates a missing market cap. These comparisons describe data, not recommendations or price predictions.

Related research

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INDUSTRY COMPARISON

BP industry peers

Oil & Gas Integrated · Oct 16, 2026 · Closing-price performance

Compare BP with 2 other stocks in the available heatmap coverage.

CVXChevron Corporation+2.59%XOMExxonmobil Holdings Corporation+2.46%