BP Earnings Miss Estimates on Sliding Refinery Margins

Integrated oil and natural gas BP (BP) Tuesday reported fourth-quarter earnings per share of $1.10, well below the Thomson/Reuters First Call consensus estimate of $1.51. The global energy giant also said it sees a "slow and gradual" recovery from the recession.

For all of 2009, BP earned $4.47 per share, below the Thomson/Reuters First Call estimate of $4.73. By comparison, in last year's fourth quarter, BP earned 84 cents per share, and for all of 2008 it earned $8.17 per share.