PETROBRAS Reports Q2 2023 Earnings Results
August 21, 2023
🌥️Earnings Overview
On August 4, 2023, PETROLEO BRASILEIRO SA PETROBRAS ($NYSE:PBR.A) reported its financial results for the second quarter of 2023. Total revenue came in at USD 23.0 billion, representing a 33.8% drop as compared to the same quarter in the previous year. Net income for the quarter was USD 5.8 billion, which is a decrease of 47.0% compared to the same quarter in the previous year.
Price History
On Friday, PETROLEO BRASILEIRO SA PETROBRAS (PETROBRAS) reported its financial results for the second quarter of 2023. The company’s stock opened at $12.8 and closed at $12.3, a decrease of 3.2% from its last closing price of $12.7. The company attributed the strong performance in Q2 to higher crude prices, increased production efficiency, and a decrease in operating costs.
Looking ahead, PETROBRAS is optimistic about its prospects for the rest of 2023 as it remains focused on cost-cutting initiatives and increasing production efficiency. The company believes that these measures will help it maintain its strong financial results going forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for PBR.A. More…
| Total Revenues | Net Income | Net Margin |
| 112.33k | 30.18k | 27.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for PBR.A. More…
| Operations | Investing | Financing |
| 44.9k | -4.96k | -45.98k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for PBR.A. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 205.52k | 128.27k | 11.79 |
Key Ratios Snapshot
Some of the financial key ratios for PBR.A are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.5% | 49.7% | 41.5% |
| FCF Margin | ROE | ROA |
| 30.3% | 37.4% | 14.2% |
Analysis
At GoodWhale, we have conducted a comprehensive analysis of the fundamentals for PETROLEO BRASILEIRO SA PETROBRAS. Based on our Risk Rating assessment, we have concluded that PETROLEO BRASILEIRO SA PETROBRAS is considered a medium risk investment, in terms of financial and business aspects. Our analysis has also revealed two potential risk warnings in the company’s income sheet and balance sheet. If you are interested in learning more about these potential risks, please become a registered user on our platform to view the details. More…
Summary
PETROLEO BRASILEIRO SA PETROBRAS reported a significant decline in revenue and net income for the second quarter of 2023 compared to the same period in the previous year. This was reflected in the stock price, which moved down the same day. Investors should pay attention to the performance of PETROLEO BRASILEIRO SA PETROBRAS, as its financials may be indicative of what is to come in the future.
However, analysts should also consider the long-term prospects of the company, including their strategic plans, expected growth, and potential for profitability. Ultimately, investors should weigh their options carefully and decide if investing in PETROLEO BRASILEIRO SA PETROBRAS is right for them.
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