Core Viewpoint - Petrobras (PBR) is expected to report second-quarter earnings of 71 cents per share on revenues of $20.8 billion, reflecting a significant year-over-year growth in earnings but a decline in revenues compared to the previous year [1][3]. Group 1: Previous Quarter Performance - In the first quarter, Petrobras reported adjusted earnings of 62 cents per ADS, missing the Zacks Consensus Estimate of 92 cents, with revenues of $21 billion also falling short of the $21.6 billion estimate [2]. - The company has beaten the Zacks Consensus Estimate in three of the last four quarters, with an average surprise of 3.3% [3]. Group 2: Production and Operational Highlights - Petrobras is projected to have a strong second quarter, with total oil, gas, and natural gas liquids production increasing by 5% quarter-over-quarter to 2.91 million barrels of oil equivalent per day (MMboed) [4]. - The company brought 14 new wells online, contributing to production milestones, including a record 4.19 MMboed of operated production and 2.39 MMboed of pre-salt output [5]. - Refining performance improved, with overall oil product production rising by 1.4% to 1,730 mbpd, and diesel output increasing by 2.4% to 680 mbpd [6]. Group 3: Challenges and Outlook - Despite the positive production growth, Petrobras faced higher losses due to stoppages and maintenance, along with a natural decline in production [7]. - The Zacks model does not predict an earnings beat for PBR this time, as the Earnings ESP is 0.00% [10].

Core Viewpoint - Calumet, Inc. is undergoing a governance transition with the nomination of Julio Quintana and Karen Narwold for election to the Board of Directors, following the retirement of Jim Carter and Dan Sheets after their terms end at the 2025 Annual Meeting [1][2][3] Group 1: Board Changes - Jim Carter and Dan Sheets will not seek re-election and will retire at the end of their terms, marking a significant transition for the Board [2] - The Board collaborated with Spencer Stuart and Wasserstein Debt Opportunities to identify qualified independent director candidates [2][3] Group 2: Contributions and Achievements - The outgoing directors contributed to key milestones, including the transition to a C-Corporation, the establishment of Montana Renewables, and securing a $1.4 billion Department of Energy loan [3] - The Board's efforts have laid the groundwork for Calumet's next phase, focusing on deleveraging, cash flow growth, and expanding Montana Renewables into a leading producer of sustainable aviation fuel [3] Group 3: New Board Nominees - Julio Quintana has extensive experience in the oil and gas sector, having served as President and CEO of Tesco Corporation and held various roles at Schlumberger and Unocal Corporation [4][5] - Karen Narwold has a strong background in corporate governance, having served as Executive Vice President and General Counsel at Albemarle Corporation, and holds leadership roles in other companies [6][8] Group 4: Company Overview - Calumet, Inc. manufactures and markets a diverse range of specialty branded products and renewable fuels, operating twelve facilities across North America [9]