Petrobras stock faces earnings focus after profit jumps 21.5%

Published on 11/11/2026 at 14:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Petrobras stock enters a new outlook phase after record production. Management raised its 2026 output target and approved shareholder distributions.

Petrobras lifts output outlook

Third-quarter sales revenue rose 32.4% year over year to R$169.3 billion, while adjusted EBITDA increased 34.3% to R$85.8 billion.
Petrobras raised its 2026 oil and gas production forecast to 3.3 million-3.4 million barrels of oil equivalent per day.
The company approved R$15.3 billion in shareholder distributions and reported gross debt of US$69.97 billion at quarter-end.

PBR, US71654V4086, Illustration mit AI erstellt.

Petrobras reported third-quarter net income of R$39.75 billion, up 21.5% from the same period a year earlier. The results, covering July through September 2026, combined record oil and gas production with stronger crude prices and high refinery utilization. Valor International reported the figures on Wednesday, November 11.

Sales revenue rose 32.4% year over year to R$169.3 billion. Adjusted earnings before interest, taxes, depreciation and amortization increased 34.3% to R$85.8 billion. Petrobras attributed the improvement to record oil and gas output, record refined-product production and a favorable crude-price environment.

Production outlook moves higher

Petrobras raised its 2026 forecast for oil and gas production from 3.1 million barrels of oil equivalent per day to a range of 3.3 million-3.4 million barrels per day. Chief Executive Magda Chambriard said the company had again reached record oil and gas production and had lifted its production curve to a historic level.

Refining also strengthened the operating picture. Diesel production reached a quarterly record, while average refinery utilization stood at 99%. Domestic refined-product sales generated R$162.39 billion during the quarter, up 35% from a year earlier. Diesel sales increased 6.2% to R$41.17 billion, whereas gasoline sales declined 4.7% to R$16 billion.

Cash flow supports distributions

Petrobras announced R$15.3 billion in shareholder distributions as an advance payment for fiscal 2026 returns. The first installment of R$0.59366387 per common and preferred share is scheduled for February 22, 2027, with a second installment of the same amount scheduled for March 22, subject to the companys stated approval process.

Gross debt ended the quarter at US$69.97 billion, 1% below the year-earlier level and below the US$75 billion ceiling used as an assumption in the 2026-2030 business plan. Chief Financial and Investor Relations Officer Fernando Melgarejo said operating cash flow supported shareholder payments and helped reduce financial debt.

Oil prices add earnings support

Brent crude averaged US$97 per barrel in the quarter, compared with US$69.07 a year earlier. Petrobras also reported a higher refining margin, supporting earnings alongside the production increase. Oil exports rose 46.2% year over year to R$43 billion.

Petrobras stock traded at 16.00 euros on Lang & Schwarz at 14:20 CET on Wednesday, November 11.