finance
Petrobras Reports First-Quarter Net Profit of 32.7 Billion Reais
Petrobras reported first-quarter net revenue of 123.7 billion reais, below analyst estimates of 136.1 billion reais. The Brazilian state-controlled oil company also posted adjusted EBITDA of 59.6 billion reais and net profit of 32.7 billion reais, both missing forecasts. Results come as the company continues operations under the current Brazilian government.
May 11, 7:03 PM·1m read2 sources
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Petrobras on Tuesday reported first-quarter net revenue of 123.7 billion reais, missing analyst estimates of 136.1 billion reais. The company posted adjusted EBITDA of 59.6 billion reais against expectations of 64.5 billion reais and net profit of 32.7 billion reais compared with forecasts of 34.4 billion reais.
The figures represent the Brazilian oil producer's performance for the three months ended March 31, 2026. All three headline metrics came in below consensus estimates compiled by analysts.
Net revenue for the period totaled 123.7 billion reais.
Adjusted EBITDA reached 59.6 billion reais while net profit stood at 32.7 billion reais. The company did not release additional details on production volumes, capital expenditure or debt levels in the initial release. The results mark the first quarterly earnings reported by Petrobras since the start of 2026.
Market participants had anticipated stronger figures based on prior guidance and commodity price trends during the quarter. Petrobras has not yet commented on the variance from estimates or outlined any adjustments to its operational strategy. Further details are expected when the company releases its full earnings report and holds its conference call with investors.
