Petroleo Brasileiro S.A., or Petrobras (PBR) , announced second-quarter earnings per ADS of 47 cents, same as the Zacks Consensus Estimate. The strong performance can be attributed to production gains. However, the company's bottom line fell from the year-ago adjusted profit of 90 cents due to rising pre-salt lifting costs and lower downstream margins. Recurring net income, which strips one-time items, came in at $3,060 million compared with $5,958 million a year earlier. Petrobras' adjusted EBITDA fell to ...

Petrobras S.A. (PBR) , a Brazilian state-owned energy company, has recently confirmed the extent of a natural gas discovery (made in 2022) in the deep waters of Colombia. The Uchuva-2 well, spudded in June 2024, was aimed at confirming the size of the gas discovery that was initially identified with the Uchuva-1 well. The Uchuva-2 well is located 19 miles off the coast of Colombia, at a water depth of 2,638 ft. Petrobras stated that the planned development of the well consists of five phases. The gas bearin ...

Petroleo Brasileiro S.A., or Petrobras (PBR) is set to release second-quarter 2024 results on Aug 8. The current Zacks Consensus Estimate for the to-be-reported quarter is a profit of 55 cents per share on revenues of $24.2 billion. Let's delve into the factors that might have influenced Brazil's state-run energy giant's results in the June quarter. But it's worth taking a look at PBR's previous-quarter performance first. Highlights of Q1 Earnings & Surprise History In the last reported quarter, the Rio de ...

The investment community will be closely monitoring the performance of Petrobras in its forthcoming earnings report. The company is scheduled to release its earnings on August 8, 2024. In that report, analysts expect Petrobras to post earnings of $0.65 per share. This would mark a year-over-year decline of 27.78%. Alongside, our most recent consensus estimate is anticipating revenue of $24.05 billion, indicating a 4.65% upward movement from the same quarter last year. The Zacks Rank system, which varies bet ...

dabldy/iStock Editorial via Getty Images Petrobras (NYSE:PBR) is by far one of the cheapest oil companies today. Not only that, but the fundamental indicators are also very good, with high operational efficiency, good margins and cash generation, and consequently, high dividends, which, when added to positive operational prospects for unlocking more value and more production, make PBR stock very appealing to most investors. The problem is that there is always political uncertainty hanging over Petrobras, si ...

Petrobras (PBR) closed the most recent trading day at $15.19, moving +0.33% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.88%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 1.95%. Analysts and investors alike will be keeping a close eye on the performance of Petrobras in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.86, marking a 4.44% fall compared to the same quarter of the previ ...

Petrobras (PBR) , the largest integrated energy company in Brazil, is eyeing an expansion of its investments in Bolivia's natural gas sector. According to Magda Chambriard, CEO of Petrobras, this ambitious plan hinges on Bolivia's ability to increase its gas exports to Brazil at competitive prices to meet the growing domestic demand from industry. Historical Context Chambriard has outlined ambitious plans for increasing Bolivian gas production. PBR aims to grow its Bolivian gas output from 9 million cmd to ...

Petrobras (PBR) , Brazil's state-controlled oil company, has announced a significant increase in domestic gasoline prices for the first time in 11 months. As crude prices surge and the value of the nation's currency depreciates, the company is taking measures to adjust its pricing strategy. This move, effective immediately, will see gasoline prices for distributors rise by 7.1%, reaching 3.01 reals (55 cents) per liter. In addition, the prices for liquefied petroleum gas ("LPG") used for cooking and heating ...

Core Insights - Petrobras (PBR) has delayed the bid submission deadline for chartering a floating production, storage and offloading (FPSO) vessel for the Barracuda-Caratinga field, reflecting ongoing challenges in attracting interest from floater companies [8][20] - The Barracuda-Caratinga field is crucial for Brazil's oil production, and its revitalization is essential for maintaining output levels [2] - The repeated postponements may negatively impact market perception of PBR, leading investors to view these delays as signs of operational inefficiency [3] Operational Challenges - Continuous delays in the FPSO tender have direct implications for PBR's operations, potentially leading to decreased production levels and affecting the company's market position [10] - The difficulties in attracting bidders for the FPSO tenders reflect broader industry trends, indicating a cautious approach by floater companies influenced by economic uncertainties [11][20] - PBR's challenges in securing interest for its bidding opportunities highlight the complexities within the tender process [20] Strategic Considerations - Addressing the challenges faced in the bidding process requires a multifaceted approach, focusing on enhancing bid attractiveness, fostering partnerships, and leveraging technology [16] - By overcoming these operational hurdles, PBR may maintain its position as a global leader in the oil and gas industry [12]

Company Performance - Petrobras (PBR) closed at $14.21, reflecting a -0.63% change from the previous trading day, underperforming the S&P 500's gain of 0.16% [1] - The stock has dropped by 6.23% in the past month, compared to the Oils-Energy sector's loss of 0.71% and the S&P 500's gain of 3.22% [6] Earnings Forecast - Petrobras is forecasted to report an EPS of $0.86, indicating a 4.44% decrease from the same quarter last year [2] - The consensus estimate for revenue is $24.66 billion, which represents a 7.31% increase from the prior-year quarter [2] - For the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.54 per share and revenue of $98.78 billion, reflecting changes of -15.31% and -3.54% respectively from the previous year [7] Analyst Estimates and Rankings - Recent modifications to analyst estimates for Petrobras indicate short-term business trends, with a consensus EPS projection moving 0.98% lower in the past 30 days [3][4] - Petrobras currently holds a Zacks Rank of 3 (Hold), which is a neutral rating [4] Industry Context - The Oil and Gas - Integrated - Emerging Markets industry has a Zacks Industry Rank of 99, placing it in the top 40% of over 250 industries [5] - The average PEG ratio for the Oil and Gas - Integrated - Emerging Markets industry is 0.58, while Petrobras has a PEG ratio of 0.15, indicating a lower valuation relative to growth expectations [9] Valuation Metrics - Petrobras is trading at a Forward P/E ratio of 4.04, which is a discount compared to the industry's average Forward P/E of 4.22 [11]