BP PLC (NYSE: BP) reported fourth-quarter and full-year 2015 results before markets opened Tuesday. For the quarter, the oil and gas supermajor posted adjusted diluted earnings per American depositary share (ADS) of $0.06 on revenues of $49.23 billion. In the same period a year ago, the company reported a net loss per ADS of $1.45 on revenues of $75.1 billion. One ADS is equal to six ordinary shares. Analysts estimated earnings per ADS of $0.12 on revenues of $40.62 billion.
BP’s adjusted replacement cost loss (essentially the company’s adjusted net income/loss) in the fourth quarter totaled $196 million, compared with $2.24 billion in the year-ago quarter. Unadjusted, the loss totaled $2.23 billion, compared with a loss of $969 million in the fourth quarter of 2015.
For the full year, BP posted adjusted earnings per ADS of $1.93. On an unadjusted basis the company’s loss totaled $28.18 per share ($5.16 billion). Revenues came in at $225.98 billion, compared with $358.68 billion in 2014. Analysts had forecast earnings per ADS of $2.06 on revenues of $209.2 billion.
The company’s price realization on a barrel of crude dropped from $67.03 in the fourth quarter of 2014 to $37.05 in 2015. For the full year, the average realized price per barrel dropped from $87.96 in 2014 to $45.63.
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