BP PLC (NYSE: BP) shares are trading lower by around 4% after the company reported Q3 FY23 results.
Sales and other operating revenues came in at $53.27 billion, missing the consensus of $57.71 billion.
Production was 946 mboe/d (-3.6% Y/Y), with underlying production down 2.6% Y/Y due to lower base performance and increased planned maintenance.
The Renewables pipeline stood at 43.9GW (bp net), including 17.7GW bp net share of Lightsource BP's pipeline.
Adjusted EBITDA declined to $10.31 billion from $17.41 billion a year ago.
Underlying RC profit per American Depositary Share (ADS) came in at $1.15, missing the consensus of $1.38.
Operating cash flow was $8.75 billion, compared to $8.29 billion in the prior-year quarter. Capital expenditure increased to $3.60 billion from $3.19 billion a year ago.
Net debt stood at $22.32 billion vs. ...