Earnings Beat: Headquartered in London, BP p.l.c. (BP - Free Report) reported second-quarter adjusted earnings of 85 cents per American Depositary Share (ADS) on a replacement cost basis. The bottom line came in line with the Zacks Consensus Estimate.

Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of earnings for the quarter has been unchanged in the last seven days.

BP has an impressive earnings surprise history. The company managed to beat the Zacks Consensus Estimate in three of the last four quarters, the average positive earnings surprise being 29.6%. 

BP p.l.c. Price and EPS Surprise

BP p.l.c. Price and EPS Surprise | BP p.l.c. Quote

Revenue: Revenues of $76,907 million came higher than $57,366 million in the year-ago comparable quarter.   

Key Stats: Total production of 2.465 million barrels of oil equivalent per day (MMBoe/d) was up 1.4% year over year.

The company sold liquids for $67.24 per barrel in the second quarter (versus $46.27 in the year-earlier quarter) and natural gas for $3.65 per thousand cubic feet (versus $3.19). Overall price realization increased to $43.37 per Boe from the year-ago level of $33.59 per Boe.      

Refining Marker Margin of $14.9 per barrel stands higher than $13.8 per barrel in the prior-year quarter. Total refinery throughput decreased to 1,680 thousand barrels per day (MB/d) from 1,688 MB/d in the year-earlier period. Refining availability was 93.3% versus 94.5% in the year-ago period. 

Zacks Rank: Currently, BP has a Zacks Rank #2 (Buy) but that could change following its second-quarter 2018 report which has just released.