Finance
BP reports profits in line with expectations, suspends buybacks
Published by Global Banking & Finance Review®
Posted on February 10, 2026
2 min readLast updated: February 10, 2026
Quick Summary
BP's Q4 2025 profits reached $1.54 billion, meeting market expectations. The company suspended its share buyback program, impacting investor strategies.
BP Reports Quarterly Profits as Share Buybacks Are Suspended
BP's Financial Performance and Strategic Changes
By Stephanie Kelly and Shadia Nasralla
LONDON, Feb 10 (Reuters) - BP posted quarterly profit in line with analyst expectations on Tuesday and suspended its share buyback programme as it wrote down around $4 billion in its renewables and biogas businesses.
BP, whose new CEO Meg O'Neill will start in April, said it would allocate the excess cash to invest in oil and gas opportunities. It repurchased shares worth $750 million over the last three months.
Profit Overview
BP reported higher-than-expected profits at its gas and low-carbon units as well as profits mostly in line with expectations at its oil production and operations unit and at its customers and products unit.
This brought its fourth-quarter underlying replacement cost profit, or adjusted net income, to $1.54 billion, up around 32% on last year and in line with expectations.
BP RETURNS TO OIL AND GAS
Leadership Transition
A year ago under then-CEO Murray Auchincloss, BP announced a strategy reset back to hydrocarbons, saying the move would improve profitability after an ill-fated foray into renewables by his predecessor Bernard Looney.
Auchincloss exited abruptly in December, leaving trading chief Carol Howle in charge on an interim basis until O'Neill takes the helm as BP's fourth CEO in less than three years.
Impairments and Future Investments
BP had previously flagged up to $5 billion in impairments and, on Tuesday, listed its solar unit Lightsouce bp, U.S. biogas unit Archaea and offshore wind businesses as the main reasons. BP bought Archaea in 2022 for $4.1 billion.
Providing an update on its Brazilian Bumerangue discovery, which it has hailed as its biggest in 25 years, BP said it estimates the field to hold 8 billion barrels of liquids in place, split equally between oil and condensate, a low-density hydrocarbon liquid. It said it plans to drill appraisal wells around the end of the year.
(Reporting by Stephanie Kelly and Shadia Nasralla; Editing by Joe Bavier)
Key Takeaways
- •BP's Q4 2025 profits were $1.54 billion.
- •The profits met market expectations of $1.55 billion.
- •BP's profits increased from $1.17 billion a year ago.
- •BP suspended its share buyback program.
- •The report was covered by Reuters in London.
Frequently Asked Questions about BP reports profits in line with expectations, suspends buybacks
1What is adjusted net income?
Adjusted net income refers to a company's profit after accounting for certain expenses and adjustments, providing a clearer picture of financial performance.
2What is a share buyback?
A share buyback is when a company purchases its own shares from the marketplace, reducing the number of outstanding shares and often increasing the value of remaining shares.
3What is profit margin?
Profit margin is a financial metric that shows the percentage of revenue that exceeds the costs of goods sold, indicating how efficiently a company is managing its expenses.
