BP strengthens its balance sheet after quarterly underlying profit reaches $8.46 billion

BP ($BP) reported third-quarter 2026 underlying replacement-cost profit of $8.458 billion, compared with $2.210 billion a year earlier and $5.732 billion in the previous quarter. Higher refining margins and stronger trading supported earnings. Operating cash flow reached $14.829 billion, enabling net debt to fall by approximately $8.4 billion during the quarter to $13.870 billion.

Reported attributable profit was lower than the underlying measure at $4.696 billion. The reconciliation included $1.6 billion of after-tax inventory gains and $5.4 billion of adverse adjusting items, including $4.0 billion of after-tax net impairments. Upstream plant reliability improved to 95.3% and refining availability to 96.5%. BP said it intends to prioritize excess cash flow toward fully addressing its remaining Deepwater Horizon liabilities.

Sources:

• RNS via Investegate