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Petrobras to Report Q2 Earnings: What's in the Offing for the Stock?
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Key Takeaways
{\"0\":\"Petrobras is expected to report Q2 earnings of 71 cents per share on revenues of $20.8 billion.\",\"1\":\"PBR\'s Q2 oil and gas output rose 5% sequentially to 2.91 million boe per day.\",\"2\":\"New refining units lifted diesel and jet fuel output, improving efficiency and lowering emissions.\"}
Petróleo Brasileiro S.A. - Petrobras (PBR - Free Report) is set to release second-quarter results on Aug. 7. The Zacks Consensus Estimate for earnings is 71 cents per share on revenues of $20.8 billion.
Let us delve into the factors that are likely to have influenced the integrated oil and gas firm’s performance in the to-be-reported quarter. But it is 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 Janeiro-based Brazil's state-run energy giant missed the consensus mark, due to lower downstream production and a decline in realized oil prices. Petrobras reported adjusted earnings per ADS of 62 cents, which missed the Zacks Consensus Estimate of 92 cents. Moreover, the company’s quarterly revenues of $21 billion missed the consensus estimate of $21.6 billion.
PBR’s earnings beat the Zacks Consensus Estimate in three of the last four quarters and missed in one, resulting in a surprise of 3.3%, on average. This is depicted in the graph below:
Petroleo Brasileiro S.A.- Petrobras Price and EPS Surprise
The Zacks Consensus Estimate for the second-quarter bottom line has been revised 11% upward in the past seven days. The estimated figure indicates 51.1% year-over-year growth. The consensus estimate for revenues, meanwhile, indicates an 11.3% decline from the year-ago period.
Factors to Consider Ahead of PBR’s Q2 Results
Per its ‘Production and Sales Report’ issued in July 2025, Petrobras is likely to have recorded a strong second quarter in 2025, with total oil, gas and natural gas liquids production rising 5% quarter over quarter to 2.91 million barrels of oil equivalent per day (MMboed). This growth was driven by ramp-ups at key FPSOs, including Almirante Tamandaré (Búzios), Maria Quitéria (Jubarte), Anita Garibaldi and Anna Nery (Marlim and Voador), and peak production at Marechal Duque de Caxias and startup of Alexandre de Gusmão in the Mero field.
A total of 14 new wells were brought online, seven each in the Campos and Santos basins. Alexandre de Gusmão, the fifth unit in the Mero field, started operations ahead of schedule and began gas injection just 32 days later. It can produce 180,000 bpd and reinject 12 million cubic meters of gas per day. Marechal Duque de Caxias reached peak output with four wells and is expected to expand to 15. Production milestones included a company-record 4.19 MMboed of operated production and 2.39 MMboed of pre-salt output.
Refining performance also improved. REPLAN’s new HDT unit began operations in May, increasing S-10 diesel output by 63 mbpd and aviation fuel by 21 mbpd, enhancing efficiency and lowering sulfur emissions. Overall oil product production rose 1.4% to 1,730 mbpd, with diesel up 2.4% to 680 mbpd. Petrobras processed a record 72% of pre-salt oil in the first half of 2025, indicating its strategy to produce higher-value and cleaner fuels.
On a bearish note, the company said that it sustained higher losses due to stoppages and maintenance, besides the natural decline in production.
What Does Our Model Predict for PBR?
The proven Zacks model does not conclusively predict an earnings beat for PBR this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that is not the case here.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
PBR’s Zacks Rank: PBR currently carries a Zacks Rank of 3.
Stocks With the Favorable Combination
Here are some firms from the energy space, which, according to our model, have the right combination of elements to post an earnings beat this reporting cycle.
CLMT is scheduled to release earnings on Aug. 8. Notably, the Zacks Consensus Estimate for Calumet’s current quarter earnings per share indicates 8.33% year-over-year growth. Valued at around $1.3 billion, the company’s shares have gained 35.2% in a year.
Similarly, Plains GP Holdings, L.P. (PAGP - Free Report) has an Earnings ESP of +50.00% and a Zacks Rank of 1 at present. PAGP is slated to release earnings on Aug. 8.
The Zacks Consensus Estimate for Plains’ 2025 earnings per share indicates 205.8% year-over-year growth. Valued at around $3.8 billion, Plains’ shares have gained 7.3% in a year.
HighPeak Energy, Inc. (HPK - Free Report) has an Earnings ESP of +58.33% and a Zacks Rank of 2 currently. It is scheduled to release earnings on Aug. 11.
The Zacks Consensus Estimate for HighPeak Energy’s 2025 earnings per share indicates 2.99% year-over-year growth. Valued at around $1.1 billion, HighPeak Energy’s shares have lost 36.3% in a year.
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Petrobras to Report Q2 Earnings: What's in the Offing for the Stock?
Key Takeaways
Petróleo Brasileiro S.A. - Petrobras (PBR - Free Report) is set to release second-quarter results on Aug. 7. The Zacks Consensus Estimate for earnings is 71 cents per share on revenues of $20.8 billion.
Let us delve into the factors that are likely to have influenced the integrated oil and gas firm’s performance in the to-be-reported quarter. But it is 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 Janeiro-based Brazil's state-run energy giant missed the consensus mark, due to lower downstream production and a decline in realized oil prices. Petrobras reported adjusted earnings per ADS of 62 cents, which missed the Zacks Consensus Estimate of 92 cents. Moreover, the company’s quarterly revenues of $21 billion missed the consensus estimate of $21.6 billion.
PBR’s earnings beat the Zacks Consensus Estimate in three of the last four quarters and missed in one, resulting in a surprise of 3.3%, on average. This is depicted in the graph below:
Petroleo Brasileiro S.A.- Petrobras Price and EPS Surprise
Petroleo Brasileiro S.A.- Petrobras price-eps-surprise | Petroleo Brasileiro S.A.- Petrobras Quote
PBR’s Trend in Estimate Revision
The Zacks Consensus Estimate for the second-quarter bottom line has been revised 11% upward in the past seven days. The estimated figure indicates 51.1% year-over-year growth. The consensus estimate for revenues, meanwhile, indicates an 11.3% decline from the year-ago period.
Factors to Consider Ahead of PBR’s Q2 Results
Per its ‘Production and Sales Report’ issued in July 2025, Petrobras is likely to have recorded a strong second quarter in 2025, with total oil, gas and natural gas liquids production rising 5% quarter over quarter to 2.91 million barrels of oil equivalent per day (MMboed). This growth was driven by ramp-ups at key FPSOs, including Almirante Tamandaré (Búzios), Maria Quitéria (Jubarte), Anita Garibaldi and Anna Nery (Marlim and Voador), and peak production at Marechal Duque de Caxias and startup of Alexandre de Gusmão in the Mero field.
A total of 14 new wells were brought online, seven each in the Campos and Santos basins. Alexandre de Gusmão, the fifth unit in the Mero field, started operations ahead of schedule and began gas injection just 32 days later. It can produce 180,000 bpd and reinject 12 million cubic meters of gas per day. Marechal Duque de Caxias reached peak output with four wells and is expected to expand to 15. Production milestones included a company-record 4.19 MMboed of operated production and 2.39 MMboed of pre-salt output.
Refining performance also improved. REPLAN’s new HDT unit began operations in May, increasing S-10 diesel output by 63 mbpd and aviation fuel by 21 mbpd, enhancing efficiency and lowering sulfur emissions. Overall oil product production rose 1.4% to 1,730 mbpd, with diesel up 2.4% to 680 mbpd. Petrobras processed a record 72% of pre-salt oil in the first half of 2025, indicating its strategy to produce higher-value and cleaner fuels.
On a bearish note, the company said that it sustained higher losses due to stoppages and maintenance, besides the natural decline in production.
What Does Our Model Predict for PBR?
The proven Zacks model does not conclusively predict an earnings beat for PBR this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that is not the case here.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
PBR’s Zacks Rank: PBR currently carries a Zacks Rank of 3.
Stocks With the Favorable Combination
Here are some firms from the energy space, which, according to our model, have the right combination of elements to post an earnings beat this reporting cycle.
Calumet, Inc. (CLMT - Free Report) has an Earnings ESP of +49.62% and a Zacks Rank of 3 currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
CLMT is scheduled to release earnings on Aug. 8. Notably, the Zacks Consensus Estimate for Calumet’s current quarter earnings per share indicates 8.33% year-over-year growth. Valued at around $1.3 billion, the company’s shares have gained 35.2% in a year.
Similarly, Plains GP Holdings, L.P. (PAGP - Free Report) has an Earnings ESP of +50.00% and a Zacks Rank of 1 at present. PAGP is slated to release earnings on Aug. 8.
The Zacks Consensus Estimate for Plains’ 2025 earnings per share indicates 205.8% year-over-year growth. Valued at around $3.8 billion, Plains’ shares have gained 7.3% in a year.
HighPeak Energy, Inc. (HPK - Free Report) has an Earnings ESP of +58.33% and a Zacks Rank of 2 currently. It is scheduled to release earnings on Aug. 11.
The Zacks Consensus Estimate for HighPeak Energy’s 2025 earnings per share indicates 2.99% year-over-year growth. Valued at around $1.1 billion, HighPeak Energy’s shares have lost 36.3% in a year.