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Title : Wow, It Never Quits -- Now It's BP Exceeding Financial Expectations -- February 5, 2019
link : Wow, It Never Quits -- Now It's BP Exceeding Financial Expectations -- February 5, 2019

Wow, It Never Quits -- Now It's BP Exceeding Financial Expectations -- February 5, 2019

Bloomberg here. Data points:

• 4Q18: adjusted net income, $3.48 billion vs estimates of $2.64 billion
• full year: $12.7 billion -- as high as when oil was trading close to $100/bbl 

But look at this:

The better-than-expected earnings should give shareholders some comfort after BP took on more debt to pay for a swath of U.S. shale assets, its biggest deal in 20 years. The company’s facilities were still able to churn out cash even as the oil market turned south late last year.

While higher leverage gives BP less flexibility than its peers should the commodities cycle worsen again, so far prices have rebounded swiftly this year. Its willingness to spend money delivered six major new projects in 2018, increasing oil and gas output 2.4 percent to 3.683 million barrels of oil equivalent a day, the first of several years of forecast growth.

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