Petroleo Brasileiro SA Petrobras reports results for the quarter ended September 30 - Earnings Summary

• Petroleo Brasileiro SA Petrobras reported quarterly adjusted earnings of R$3.62​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of R$2.23. The mean expectation of five analysts for the quarter was for earnings of R$3.47 per share. Wall Street expected results to range from R$2.96 to R$3.90 per share.

• Revenue rose 32.4% to R$169.35 billion from a year ago; analysts expected R$177.10 billion.

• Petroleo Brasileiro SA Petrobras's reported EPS for the quarter was R$3.09​.

• The company reported quarterly net income of R$39.75 billion.

• Petroleo Brasileiro SA Petrobras shares had fallen by 8.5% this quarter and gained 55.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 13.2% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the integrated oil & gas peer group is also "buy"

• Wall Street's median 12-month price target for Petroleo Brasileiro SA Petrobras is R$62.00, about 27.5% above its last closing price of R$44.95

This summary was machine generated from LSEG data November 11 at 01:23 a.m. UTC. ​All figures in Brazilian reais unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)