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Brazil's Petrobras misses profit estimates, raises 2026 planned investments

By Reuters News

SAO PAULO/RIO DE JANEIRO, Nov 10 (Reuters) - Brazilian state-run oil firm Petrobras on Tuesday posted a third-quarter net profit below analysts' expectations, and raised its investments forecast for the year.

Petrobras reported a 39.75 billion reais ($7.1 billion) net profit for the July-September period, up 21.5% from a year earlier, but below the 47.02 billion reais expected by analysts polled by LSEG.

In a separate statement, the company increased its yearly capital expenditure forecast, a measure of investments, by more than $4 billion, after the figure rose nearly 17% in the quarter. Additionally, Petrobras raised 2026 oil output estimates.

Adjusted earnings before interest, taxes, depreciation and amortization for the July-September quarter stood at 85.82 billion reais, a 34.3% rise, also below the 93.97 billion reais LSEG consensus.

The company announced 15.3 billion reais ($2.74 billion) in shareholder remuneration.


($1 = 5.5926 reais)

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