Petrobras Crushes Earnings Estimates on Record Production
Petrobras reported second-quarter earnings per ADS of $1.72, up 168.8% from 64 cents a year ago and above the Zacks Consensus Estimate of $1.52.
The company's record production and higher Brent prices contributed to its strong earnings performance.
Petrobras' total oil, NGL, and natural gas production reached 3,336 thousand barrels of oil equivalent per day (MBOE/d), a new record for the company.