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Earnings Data
Report Date
Aug 06, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.25Last Year’s EPS
0.75Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operational execution and financial resilience — record production growth (+11% YoY), major pre‑salt milestones, robust EBITDA (~$42.5bn) and operating cash flow ($36bn) despite a 14% decline in Brent. The company also highlighted meaningful reserve additions (1.7 billion barrels, 175% replacement), heavy E&P investment, and progress in low‑carbon fuels. Key risks noted were macro price volatility, lack of a hedging strategy, sizeable gross debt/leasing exposure, and pending transactions/exploratory uncertainties (Braskem approval, equatorial margin results). Overall, positive operational momentum and disciplined capital allocation were judged to outweigh the external and transactional uncertainties.Company Guidance
Strong Production Growth
Total oil production increased 11% in 2025 versus 2024, driven by pre-salt ramp-ups and operational efficiency improvements (decline rates reduced from ~12% to ~4%), with efficiency gains contributing ~100,000 barrels/day equivalent.
Pre‑salt Field Milestones
Buzios platforms surpassed 1,000,000 barrels/day in October 2025; Atapu and Sépia reached 1,000,000 barrels/day by December 31, 2025 — resulting in two pre‑salt fields producing >1 million bpd each.
Refining Performance and Premium Product Mix
Refinery utilization averaged ~91–92% in 2025 (guidance to 95% early 2026); ~68–70% of refinery output composed of higher‑value products (diesel, gasoline, QAV). Domestic byproduct sales were 1,747,000 barrels/day (+1.43% YoY); diesel sales +5.2% YoY; QAV (aviation fuel) sales +6% YoY (best in 6 years).
Robust Financial Results Despite Lower Brent
Average Brent was $69/bbl in 2025 (-14% YoY) yet Petrobras delivered adjusted EBITDA of $42.5 billion (or $43.8 billion including special events) roughly in line with the prior year; operating cash flow of $36 billion and net income of ~$19.6 billion (excluding non‑cash/exclusive events).
Reserve Additions and Replacement
Incorporated ~1.7 billion barrels of proven reserves in 2025, achieving the highest proven reserves level in 10 years with a reserve replacement rate of ~175% despite record production.
Focused Investment in E&P
Total investment >$20 billion in 2025 (+22% vs 2024) with 84% allocated to Exploration & Production (~$17 billion), including a record tie‑in of 77 wells (previous top was 57) to accelerate production delivery.
Export and Logistics Strength
Average oil exports in 2025 were 675,000 bpd; exports in Q4 averaged ~999,000 bpd (just shy of 1 million). Notable operational achievements include P‑79 anchoring (record 12 days with 26 anchors) and increased gas processing capacity at Boaventura to 21 million m3/day.
Progress on Low‑Carbon Fuels
Initiated SAF production at Duque de Caxias and Henrique Lage refineries; launched contracts for SAF/green diesel plant at Presidente Bernardes; sold bunker fuel with 24% renewable content to the Asian market — early commercial traction for renewable content products.
Capital Return and Socioeconomic Impact
Board approved payout of BRL 8.1 billion (BRL 0.62/share) paid in two installments; distributed ~BRL 45 billion in dividends in the period; paid ~BRL 277 billion in taxes/royalties; investments supported ~300,000 jobs and ~BRL 2 billion in social/environmental spending.
Operational Execution and Ramp‑ups
Accelerated ramp‑up of platforms (P‑78 gas injection record; P‑79 moored and soon to operate), targeted sailaways for P‑80, P‑82, P‑83 in 2026–2027 — demonstrating ability to execute large projects on accelerated timelines.
PBR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PBR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 11, 2026 | $20.50 | $20.25 | -1.20% |
Mar 05, 2026 | $16.37 | $17.22 | +5.20% |
Nov 06, 2025 | $11.56 | $12.24 | +5.93% |
Aug 07, 2025 | $12.24 | $11.34 | -7.34% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Petroleo Brasileiro (PBR) report earnings?
Petroleo Brasileiro (PBR) is schdueled to report earning on Aug 06, 2026, TBA (Confirmed).
What is Petroleo Brasileiro (PBR) earnings time?
Petroleo Brasileiro (PBR) earnings time is at Aug 06, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PBR EPS forecast?
PBR EPS forecast for the fiscal quarter 2026 (Q2) is 1.25.
