Equity Profile

BP

BP p.l.c.

EnergyIntegrated Oil & Gas$110.3B

Aug4Tue

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

BP p.l.c. is a major player in the energy sector, focusing on integrated oil and gas operations....

Key Metrics to Watch

EPS

Earnings per share (EPS) is a key indicator of profitability and will show how well BP has managed costs and revenues this quarter.

$1.78

Revenue

Total revenue reflects BP's ability to generate sales from its operations, which is crucial for assessing overall business health.

$59.9B

Wall Street expectations, options signals, track record, and call prep available with Pro.

BP Q2-2026 Earnings Preview

Context

Company Snapshot

BP p.l.c. is a major player in the energy sector, focusing on integrated oil and gas operations. With a market cap of $110 billion, BP is significant in discussions around energy transition and sustainability, as it navigates the shift towards cleaner energy sources.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

-15.85%

Avg Stock Reaction

-1.24%

Last Quarter Recap

In Q1 2026, BP reported an EPS of $1.47, significantly exceeding expectations of $0.91, reflecting a strong performance. The stock reacted positively, gaining 0.83% the following day.

Management Promises & Guidance

Focus on cost management and efficiency improvements.
Commitment to transitioning towards renewable energy sources.
Plans to enhance shareholder returns through dividends and buybacks.

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about BP's upcoming earnings, with expectations for strong EPS and revenue growth. The market is closely watching how BP balances traditional oil and gas operations with its renewable energy commitments.

Bull Case

If BP exceeds EPS expectations and shows robust revenue growth, it could signal strong operational efficiency and a successful transition strategy, boosting investor confidence.

Bear Case

Conversely, if BP misses EPS or revenue estimates, it may raise concerns about its ability to manage costs and adapt to market changes, leading to negative sentiment.

Key Metrics to Watch

EPS

$1.78

Earnings per share (EPS) is a key indicator of profitability and will show how well BP has managed costs and revenues this quarter.

Revenue

$59.9B

Total revenue reflects BP's ability to generate sales from its operations, which is crucial for assessing overall business health.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will BP's EPS exceed the consensus estimate of $1.78?

A strong EPS could validate BP's operational efficiency and reassure investors about its profitability.

What guidance will BP provide regarding revenue growth in the current market environment?

Revenue guidance will be crucial for assessing BP's ability to navigate challenges in the energy sector and its commitment to transitioning to renewables.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate BP's operational improvements and cost management strategies, which could lead to better-than-expected results this quarter.

Supporting Evidence

BP's recent EPS surprise of +61.01% indicates strong underlying performance.

The company's commitment to shareholder returns suggests confidence in future profitability.

Options pricing suggests a larger move than historical averages, indicating potential for a surprise.

Key Risk

If BP's revenue exceeds $65 billion, it could challenge the current cautious sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate centers on BP's ability to maintain profitability while transitioning to a more sustainable energy model.

Bull Confirmed If

An EPS of $1.85 or higher, coupled with revenue exceeding $65 billion, would confirm the bull case.

Bear Confirmed If

An EPS below $1.50 or revenue falling short of $55 billion would support the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±7.22%

Historical Avg

±2.6%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±7.2% while BP has averaged ±2.6% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

32.0%

Calls (921K)P/C Ratio: 0.35Puts (382K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If BP beats expectations, history suggests a potential stock increase of around 2.57%, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

A miss could lead to a decline of about 0.07%, reflecting disappointment in BP's ability to manage costs and revenues.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·0 sells

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

D-ILJonathan JacksonRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on BP's renewable energy investments and their expected impact on future earnings.
2Details on cost management initiatives and their effectiveness in the current quarter.
3Guidance on oil and gas production levels and how they align with market demand.
4Insights into BP's strategy for navigating regulatory changes in the energy sector.
5Comments on shareholder return strategies, including dividends and buybacks.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

BP p.l.c. is a major player in the energy sector, focusing on integrated oil and gas operations....

Key Metrics to Watch

EPS

Earnings per share (EPS) is a key indicator of profitability and will show how well BP has managed costs and revenues this quarter.

$1.78

Revenue

Total revenue reflects BP's ability to generate sales from its operations, which is crucial for assessing overall business health.

$59.9B

Wall Street expectations, options signals, track record, and call prep available with Pro.

BP Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

-15.85%

Avg Stock Reaction

-1.24%

Last Quarter Recap

In Q1 2026, BP reported an EPS of $1.47, significantly exceeding expectations of $0.91, reflecting a strong performance. The stock reacted positively, gaining 0.83% the following day.

Management Promises & Guidance

Focus on cost management and efficiency improvements.
Commitment to transitioning towards renewable energy sources.
Plans to enhance shareholder returns through dividends and buybacks.

Expectations

Wall Street Expectations

Bull Case

If BP exceeds EPS expectations and shows robust revenue growth, it could signal strong operational efficiency and a successful transition strategy, boosting investor confidence.

Bear Case

Conversely, if BP misses EPS or revenue estimates, it may raise concerns about its ability to manage costs and adapt to market changes, leading to negative sentiment.

Key Metrics to Watch

EPS

$1.78

Earnings per share (EPS) is a key indicator of profitability and will show how well BP has managed costs and revenues this quarter.

Revenue

$59.9B

Total revenue reflects BP's ability to generate sales from its operations, which is crucial for assessing overall business health.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will BP's EPS exceed the consensus estimate of $1.78?

A strong EPS could validate BP's operational efficiency and reassure investors about its profitability.

What guidance will BP provide regarding revenue growth in the current market environment?

Revenue guidance will be crucial for assessing BP's ability to navigate challenges in the energy sector and its commitment to transitioning to renewables.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate BP's operational improvements and cost management strategies, which could lead to better-than-expected results this quarter.

Supporting Evidence

BP's recent EPS surprise of +61.01% indicates strong underlying performance.

The company's commitment to shareholder returns suggests confidence in future profitability.

Options pricing suggests a larger move than historical averages, indicating potential for a surprise.

Key Risk

If BP's revenue exceeds $65 billion, it could challenge the current cautious sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate centers on BP's ability to maintain profitability while transitioning to a more sustainable energy model.

Bull Confirmed If

An EPS of $1.85 or higher, coupled with revenue exceeding $65 billion, would confirm the bull case.

Bear Confirmed If

An EPS below $1.50 or revenue falling short of $55 billion would support the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±7.22%

Historical Avg

±2.6%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±7.2% while BP has averaged ±2.6% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

32.0%

Calls (921K)P/C Ratio: 0.35Puts (382K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If BP beats expectations, history suggests a potential stock increase of around 2.57%, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

A miss could lead to a decline of about 0.07%, reflecting disappointment in BP's ability to manage costs and revenues.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·0 sells

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

D-ILJonathan JacksonRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on BP's renewable energy investments and their expected impact on future earnings.
2Details on cost management initiatives and their effectiveness in the current quarter.
3Guidance on oil and gas production levels and how they align with market demand.
4Insights into BP's strategy for navigating regulatory changes in the energy sector.
5Comments on shareholder return strategies, including dividends and buybacks.