diff --git a/drivers/net/ethernet/broadcom/bnx2x/bnx2x_cmn.c b/drivers/net/ethernet/broadcom/bnx2x/bnx2x_cmn.c
index 008ad0ca89ba..c12c1bab0fe4 100644
--- a/drivers/net/ethernet/broadcom/bnx2x/bnx2x_cmn.c
+++ b/drivers/net/ethernet/broadcom/bnx2x/bnx2x_cmn.c
@@ -3857,9 +3857,12 @@ netdev_tx_t bnx2x_start_xmit(struct sk_buff *skb, struct net_device *dev)
 
 	if (unlikely(skb_shinfo(skb)->tx_flags & SKBTX_HW_TSTAMP)) {
 		if (!(bp->flags & TX_TIMESTAMPING_EN)) {
+			bp->eth_stats.ptp_skip_tx_ts++;
 			BNX2X_ERR("Tx timestamping was not enabled, this packet will not be timestamped\n");
 		} else if (bp->ptp_tx_skb) {
-			BNX2X_ERR("The device supports only a single outstanding packet to timestamp, this packet will not be timestamped\n");
+			bp->eth_stats.ptp_skip_tx_ts++;
+			netdev_err_once(bp->dev,
+					"Device supports only a single outstanding packet to timestamp, this packet won't be timestamped\n");
 		} else {
 			skb_shinfo(skb)->tx_flags |= SKBTX_IN_PROGRESS;
 			/* schedule check for Tx timestamp */
diff --git a/drivers/net/ethernet/broadcom/bnx2x/bnx2x_ethtool.c b/drivers/net/ethernet/broadcom/bnx2x/bnx2x_ethtool.c
index 51fc845de31a..4a0ba6801c9e 100644
--- a/drivers/net/ethernet/broadcom/bnx2x/bnx2x_ethtool.c
+++ b/drivers/net/ethernet/broadcom/bnx2x/bnx2x_ethtool.c
@@ -182,7 +182,9 @@ static const struct {
 	{ STATS_OFFSET32(driver_filtered_tx_pkt),
 				4, false, "driver_filtered_tx_pkt" },
 	{ STATS_OFFSET32(eee_tx_lpi),
-				4, true, "Tx LPI entry count"}
+				4, true, "Tx LPI entry count"},
+	{ STATS_OFFSET32(ptp_skip_tx_ts),
+				4, false, "ptp_skipped_tx_tstamp" },
 };
 
 #define BNX2X_NUM_STATS		ARRAY_SIZE(bnx2x_stats_arr)
diff --git a/drivers/net/ethernet/broadcom/bnx2x/bnx2x_main.c b/drivers/net/ethernet/broadcom/bnx2x/bnx2x_main.c
index 03ac10b1cd1e..2cc14db8f0ec 100644
--- a/drivers/net/ethernet/broadcom/bnx2x/bnx2x_main.c
+++ b/drivers/net/ethernet/broadcom/bnx2x/bnx2x_main.c
@@ -15214,11 +15214,24 @@ static void bnx2x_ptp_task(struct work_struct *work)
 	u32 val_seq;
 	u64 timestamp, ns;
 	struct skb_shared_hwtstamps shhwtstamps;
+	bool bail = true;
+	int i;
 
-	/* Read Tx timestamp registers */
-	val_seq = REG_RD(bp, port ? NIG_REG_P1_TLLH_PTP_BUF_SEQID :
-			 NIG_REG_P0_TLLH_PTP_BUF_SEQID);
-	if (val_seq & 0x10000) {
+	/* FW may take a while to complete timestamping; try a bit and if it's
+	 * still not complete, may indicate an error state - bail out then.
+	 */
+	for (i = 0; i < 10; i++) {
+		/* Read Tx timestamp registers */
+		val_seq = REG_RD(bp, port ? NIG_REG_P1_TLLH_PTP_BUF_SEQID :
+				 NIG_REG_P0_TLLH_PTP_BUF_SEQID);
+		if (val_seq & 0x10000) {
+			bail = false;
+			break;
+		}
+		msleep(1 << i);
+	}
+
+	if (!bail) {
 		/* There is a valid timestamp value */
 		timestamp = REG_RD(bp, port ? NIG_REG_P1_TLLH_PTP_BUF_TS_MSB :
 				   NIG_REG_P0_TLLH_PTP_BUF_TS_MSB);
@@ -15233,16 +15246,18 @@ static void bnx2x_ptp_task(struct work_struct *work)
 		memset(&shhwtstamps, 0, sizeof(shhwtstamps));
 		shhwtstamps.hwtstamp = ns_to_ktime(ns);
 		skb_tstamp_tx(bp->ptp_tx_skb, &shhwtstamps);
-		dev_kfree_skb_any(bp->ptp_tx_skb);
-		bp->ptp_tx_skb = NULL;
 
 		DP(BNX2X_MSG_PTP, "Tx timestamp, timestamp cycles = %llu, ns = %llu\n",
 		   timestamp, ns);
 	} else {
-		DP(BNX2X_MSG_PTP, "There is no valid Tx timestamp yet\n");
-		/* Reschedule to keep checking for a valid timestamp value */
-		schedule_work(&bp->ptp_task);
+		DP(BNX2X_MSG_PTP,
+		   "Tx timestamp is not recorded (register read=%u)\n",
+		   val_seq);
+		bp->eth_stats.ptp_skip_tx_ts++;
 	}
+
+	dev_kfree_skb_any(bp->ptp_tx_skb);
+	bp->ptp_tx_skb = NULL;
 }
 
 void bnx2x_set_rx_ts(struct bnx2x *bp, struct sk_buff *skb)
diff --git a/drivers/net/ethernet/broadcom/bnx2x/bnx2x_stats.h b/drivers/net/ethernet/broadcom/bnx2x/bnx2x_stats.h
index b2644ed13d06..d55e63692cf3 100644
--- a/drivers/net/ethernet/broadcom/bnx2x/bnx2x_stats.h
+++ b/drivers/net/ethernet/broadcom/bnx2x/bnx2x_stats.h
@@ -207,6 +207,9 @@ struct bnx2x_eth_stats {
 	u32 driver_filtered_tx_pkt;
 	/* src: Clear-on-Read register; Will not survive PMF Migration */
 	u32 eee_tx_lpi;
+
+	/* PTP */
+	u32 ptp_skip_tx_ts;
 };
 
 struct bnx2x_eth_q_stats {