Petroleo Brasileiro ( (PBR) ) has released its Q1 earnings. Here is a breakdown of the information Petroleo Brasileiro presented to its investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Petroleo Brasileiro, commonly known as Petrobras, is a Brazilian multinational corporation in the petroleum industry, primarily engaged in oil and gas exploration, production, refining, and distribution, with a significant focus on pre-salt oil fields.
In its first-quarter 2025 earnings report, Petrobras reported a strong financial performance, highlighted by a 5% increase in production volume and a 46% rise in Adjusted EBITDA compared to the previous quarter. The company maintained robust cash generation, with an operating cash flow of $8.5 billion and a free cash flow of $4.5 billion.
Key financial metrics for the quarter included an Adjusted EBITDA of $10.7 billion and a net income of $4 billion, excluding one-off events. The company also reported a significant reduction in capital expenditures, down 29.1% from the previous quarter, as it focused investments on pre-salt projects like the Búzios and Atapu fields. Operationally, Petrobras achieved a total oil and gas production of 2.77 million boe/d, marking a 5.4% increase from the previous quarter.
Petrobras continues to invest in its business plan, with $4 billion allocated in the first quarter, representing 22% of its annual guidance. The company is advancing in drilling and connecting wells and constructing new units to support future production growth, which is expected to generate shareholder value and revenue in the coming years.
Looking ahead, Petrobras remains committed to its strategic initiatives, focusing on enhancing production efficiency and expanding its presence in new markets, such as the recent contract with Bharat Petroleum Corporation Limited to export oil to India starting in 2025.