LSE$BP
BP · Q2 2026 earnings
Q2 2026 earnings · · Investor relations
Briefing
BP reported stronger Q2 2026 results with underlying replacement cost profit of $5.7 billion and operating cash flow of $10.9 billion.
BP delivered a strong second quarter with underlying RC profit rising to $5.732 billion from $3.198 billion in Q1, driven by higher realizations, refining margins, and integrated operations. Reported profit attributable to shareholders was $3.911 billion. The company reduced net debt to $22.251 billion, increased the dividend by 4% to 8.66 cents per share, and outlined five priorities for performance improvement.
- Underlying RC profit reached $5.732 billion, up $2.534 billion quarter-over-quarter.
- Operating cash flow hit $10.858 billion after a $1.0 billion working capital build.
- Net debt reduced by $3.058 billion to $22.251 billion through strong cash generation and portfolio actions.
- Upstream production averaged 2.201 million boe/d with plant reliability at 92.4%; dividend increased 4% to 8.66 cents per share.
Headline financials
Revenue & EPS history
BP · Revenue · Quarterly
$48.4B
Forward guidance
CEO outlined five priorities focused on balance sheet strength, portfolio simplification, disciplined investment, operational excellence, and high-performance accountability to drive long-term shareholder value.
Tailwinds
- Strong cash generation and balance sheet progress with $6.9 billion reduction in total obligations.
- Portfolio actions including sales of refinery, retail business, and plans for North Sea and Archaea.
Headwinds
- Operational shortfalls with lower upstream reliability and production due to maintenance and Middle East disruptions.
- Need for faster cost reduction and consistent performance delivery.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports
+0.7%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+29.2%
Avg return
30 days after
62%
38 / 61 earnings
Positive
+10.9%
Q4 2022
Best reaction
-8.9%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | +0.6% | +1.0% | +1020.7% | |
| Q3 2025 | +1.6% | +4.9% | +6.8% | |
| Q1 2025 | -0.7% | +4.0% | +3.7% | |
| Q3 2024 | -6.5% | -5.9% | -6.2% | |
| Q1 2024 | -3.9% | -3.1% | -9.2% | |
| Q4 2023 | +5.6% | +4.1% | +7.7% | |
| Q3 2023 | -5.9% | -5.6% | -5.4% | |
| Q2 2023 | -3.4% | -1.3% | -0.3% | |
| Q1 2023 | -8.9% | -7.2% | -13.2% | |
| Q4 2022 | +10.9% | +16.7% | +12.9% | |
| Q3 2022 | -1.6% | +1.9% | +7.3% | |
| Q2 2022 | +2.2% | +2.1% | +5.3% | |
| Q1 2022 | +10.4% | +10.4% | +13.7% | |
| Q4 2021 | -1.0% | -0.3% | -12.9% | |
| Q3 2021 | -6.9% | -4.9% | -7.6% | |
| Q2 2021 | +4.1% | +6.1% | +3.2% | |
| Q1 2021 | +2.9% | +1.0% | +5.5% | |
| Q4 2020 | -4.2% | -6.3% | +17.2% | |
| Q3 2020 | -5.7% | -2.0% | +35.5% | |
| Q2 2020 | +8.4% | +4.0% | -6.7% | |
| Q1 2020 | +4.6% | -6.1% | -4.3% | |
| Q4 2019 | +6.9% | +3.2% | -7.5% | |
| Q3 2019 | -2.0% | -1.4% | -3.8% | |
| Q2 2019 | +1.7% | -1.6% | -5.5% | |
| Q1 2019 | +0.1% | +0.1% | -4.6% | |
| Q4 2018 | +4.0% | +2.7% | +3.0% | |
| Q3 2018 | +5.7% | +1.4% | -1.3% | |
| Q2 2018 | +0.3% | -1.0% | -1.9% | |
| Q1 2018 | +0.2% | +1.7% | +2.8% | |
| Q4 2017 | +0.6% | -1.7% | -0.8% | |
| Q3 2017 | +2.9% | +2.4% | +1.1% | |
| Q2 2017 | +3.6% | +3.4% | -1.2% | |
| Q1 2017 | +1.1% | +2.9% | +5.6% | |
| Q4 2016 | -3.9% | -3.6% | -6.5% | |
| Q3 2016 | -4.3% | -5.7% | -0.5% | |
| Q2 2016 | -0.9% | -1.4% | -1.9% | |
| Q1 2016 | +6.4% | — | — | |
| Q4 2015 | -6.4% | — | — | |
| Q3 2015 | +2.0% | — | — | |
| Q2 2015 | +3.7% | — | — | |
| Q1 2015 | +1.3% | — | — | |
| Q4 2014 | +1.5% | — | — | |
| Q3 2014 | -1.9% | — | — | |
| Q2 2014 | +0.8% | — | — | |
| Q1 2014 | +0.1% | — | — | |
| Q4 2013 | -0.2% | — | — | |
| Q3 2013 | -2.2% | — | — | |
| Q2 2013 | -0.2% | — | — | |
| Q1 2013 | -0.8% | — | — | |
| Q4 2012 | +2.9% | — | — | |
| Q3 2012 | -0.3% | — | — | |
| Q2 2012 | +0.4% | — | — | |
| Q1 2012 | +0.8% | — | — | |
| Q4 2011 | +3.3% | — | — | |
| Q3 2011 | -4.8% | — | — | |
| Q2 2011 | +2.6% | — | — | |
| Q1 2011 | +2.4% | — | — | |
| Q4 2010 | +2.9% | — | — | |
| Q3 2010 | +4.9% | — | — | |
| Q1 2010 | +1.6% | — | — | |
| Q2 2010 | +6.2% | — | — | |
| Q4 2009 | — | — | — |
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