BP NYSE BP reported on Tuesday lower-than-forecast earnings for the third quarter as weak gas marketing and trading and a charge in offshore wind weighed on the results and couldn’t offset a strong oil trading business. BP said its underlying replacement cost profit – the metric closest to net profit – was $3.3 billion for the third quarter of this year, up from $2.6 billion for the previous quarter. The earnings, however, were well below the analyst estimate for the third quarter of $4 billion.
270 cents for the third quarter, as the company said that “A resilient dividend is bp’s first priority within its disciplined financial frame.” The supermajor also said it plans a further $1.5 billion share buyback prior to reporting the fourth-quarter results early next year. In the clean energy business, BP booked a pre-tax impairment charge of $540 million in the third quarter related to U.S. offshore wind projects.