Rodent + 1,424 January 2, 2018 BP is expected a higher post-tax earnings in 2018 thanks to corporate tax changes for 2018, it said today. Lowering from 35% to 21% is good news for corporations. Everyone looks to behemoth BP as a benchmark or as a omen of how things are going to go.P shares (NYSE:$BP) might like this 2018 prediction. Already up in after-hours. BP also said it will incur a one-off charge of $1.5 billion (wowzers) on 2017 Q4 results. Not sure the details of this one-off charge. Can anyone elaborate? All the headlines are focusing on this one-off charge, except for Reuters and some conservative outlets, which are focusing on BP's rather rosy 2018 outlook based on the tax reform. Quote Share this post Link to post Share on other sites
Carlsbad + 19 CB January 2, 2018 Rosy always makes for a better headline. But the new corporate tax means BP has to revalue its US deferred tax assets and liabilities, and that is going to result in an estimated $1.5 billion one-off charge. So in the near-term, it's not very rosy. Stocks are up on headlines of the corporate tax reduction in general, but I suspect a lot of investors aren't going to be liking this because of what it will do to Q4 results. Quote Share this post Link to post Share on other sites
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