BP Reports $8.46 Billion Q3 Profit Surge

BP reported third-quarter underlying replacement-cost profit of $8.46 billion on October 30, 2026, more than triple the $2.2 billion a year earlier and above analysts’ $7.33 billion expectation. Second-quarter underlying profit was $5.7 billion. Operating cash flow rose to $14.8 billion from $10.9 billion. Net debt fell by $8.4 billion to about $13.9 billion, from $22.3 billion at the end of the second quarter. Reported profit attributable to shareholders rose to $4.7 billion from $1.2 billion a year earlier. BP recorded $4 billion in after-tax impairments primarily tied to Lightsource bp and offshore wind, within an earlier $3 billion to $4.5 billion estimate. Chief executive Meg O’Neill said BP had delivered its net debt and structural cost reduction targets, with further balance-sheet strengthening still the top priority. The company maintained 2026 capital-expenditure guidance of $13.5 billion to $14 billion and expects about $8 billion in divestment proceeds, including roughly $6 billion from a planned Castrol sale. Upstream plant reliability improved to 95.3% from 92.4%, and refining availability rose to 96.5% from 94.7%. The Gelsenkirchen refinery sale completed on July 31. CONTESTED: none in the record. A strategy and outlook update is set for December 15.