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Highlights:

  • Profits Miss Analyst Forecasts: Q1 2025 RC profit of $1.4 billion fell short of the $2.7 billion recorded a year earlier and lagged behind analyst expectations.

  • Earnings Decreases Year-on-Year: Underlying EPS dropped to 8.75 cents from 16.24 cents in Q1 2024, missing the consensus estimate of 10.1 cents.

  • Share Buyback Disappoints: BP reduced the size of its share repurchase plan for the quarter, raising investor concerns despite higher debt and moderate quarter-over-quarter earnings growth.

BP PLC (LSE:BP.) reported weaker-than-expected first-quarter profits for 2025, underscoring the impact of lower oil prices, increased debt, and a reduced share buyback program. The results fell short of market forecasts despite a quarter-on-quarter earnings improvement.

The energy giant posted an underlying replacement cost (RC) profit of $1.4 billion, significantly down from $2.7 billion a year earlier, but slightly higher than $1.2 billion in Q4 2024. The modest quarterly gain was driven by reduced turnaround activity, even as oil prices remained under pressure.

Earnings per share came in at 8.75 cents, up from 7.36 cents in the previous quarter but well below the 10.1 cents expected by analysts. It also marked a sharp decline from the 16.24 cents recorded in Q1 2024.

The company’s performance was further dampened by a rise in net debt and a smaller-than-expected share buybac.