By Alex Kozul-Wright

BP PLC shares fell Tuesday as it attempted to strengthen its balance sheet and suspended its share buybacks.

American depositary receipts were down 5.6% to $37.05 in premarket trading. Futures tracking the S&P 500, meanwhile, were up 0.5%.

The oil-and-gas company reported a replacement cost profit of $1.54 billion for the fourth quater, compared with analyst estimates of $1.56 billion.

Quarterly sales and other operaying revenues rose 3.6% from a year ago to $47.38 billion, compared with Wall Street forecasts of $42.89 billion, according to FactSet.

The company is suspending its quarterly share buybacks as it shores up its balance sheet.

Interim chief executive officer Carol Howle said she is trying to "build a simpler, stronger and more valuable BP for the future."

Looking ahead, Howle also said that "we are reducing capital expenditure for 2026 to the lower end of the guidance range." That may have also weighed on shares.

Meg O'Neill -- who previously headed Woodside Energy -- will take over as CEO in April.

Write to Alex Kozul-Wright at alexander.kozul-wright@barrons.com

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February 10, 2026 05:52 ET (10:52 GMT)

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