NYSE$PBR
Petroleo Brasileiro SA Petrobras-ADR · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Petrobras Q4 2024 Earnings Report
Petrobras reported a net loss of $2.78 billion in Q4 2024 due to exchange rate fluctuations impacting debt. The company's revenue fell 23.2% YoY to $20.82 billion. Operating income was $2.79 billion, while free cash flow for the quarter stood at $3.77 billion. Adjusted EBITDA was $7.17 billion, with significant contributions from the exploration and production segment.
- Revenue declined 23.2% YoY to $20.82 billion, impacted by lower oil prices and refining margins.
- Net loss of $2.78 billion due to foreign exchange losses, while net income without one-off events was $3.1 billion.
- Adjusted EBITDA stood at $7.17 billion, with an EBITDA margin of 34%.
- Free cash flow of $3.77 billion, maintaining strong liquidity despite currency depreciation.
Headline financials
Revenue & EPS history
Petrobras · Revenue · Quarterly
$20.8B
Revenue by segment
Petrobras · $40.5B total across 3 segments · Q3 2026
- Refining, Transportation and Marketing$22.3B—55.1%
- Exploration and Production$16B—39.5%
- Gas and Low Carbon Energies$2.21B—5.4%
Forward guidance
Petrobras expects increased oil production in 2025, targeting 100,000 barrels per day of additional output. The company will focus on new exploration projects and refining capacity expansions.
Tailwinds
- Projected increase of 100,000 barrels per day in 2025 production.
- Three new production systems to be operational in 2025.
- Increased refining capacity with upgrades at key refineries.
- Continued investment in decarbonization and renewable energy.
- Financial discipline maintained despite macroeconomic challenges.
Headwinds
- Potential foreign exchange volatility impacting financial results.
- Lower refining margins expected due to global economic conditions.
- Oil price fluctuations could affect revenue growth.
- Rising operating costs due to inflation and regulatory requirements.
- Challenges in maintaining reserve replacement amid exploration uncertainties.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q4 2024
-0.6%
Avg return
Earnings day
-0.0%
Avg return
5 days after
-4.3%
Avg return
30 days after
52%
29 / 56 earnings
Positive
+8.1%
Q1 2018
Best reaction
-14.0%
Q3 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q3 2026 | +5.9% | -3.8% | -19.0% | |
| Q1 2025 | +1.2% | -0.4% | +2.7% | |
| Q4 2024 | -5.7% | -9.5% | +0.4% | |
| Q3 2024 | +2.1% | +2.4% | +3.4% | |
| Q2 2024 | +2.7% | +6.7% | +6.6% | |
| Q3 2023 | +1.8% | +4.9% | -2.2% | |
| Q1 2024 | -8.7% | -11.9% | -19.0% | |
| Q2 2023 | -4.0% | -0.5% | +3.1% | |
| Q4 2022 | +0.6% | -1.0% | -6.0% | |
| Q2 2022 | +5.3% | +2.8% | +10.1% | |
| Q1 2022 | +0.5% | -3.9% | +1.2% | |
| Q4 2021 | -2.6% | -0.2% | +2.6% | |
| Q2 2021 | +5.4% | +3.4% | -2.2% | |
| Q1 2021 | +6.1% | +6.6% | +25.7% | |
| Q4 2020 | +1.4% | +2.6% | -21.0% | |
| Q2 2020 | -6.5% | -9.2% | -8.3% | |
| Q1 2020 | -0.3% | +9.8% | +38.6% | |
| Q4 2019 | -1.1% | -10.2% | -66.7% | |
| Q3 2019 | +1.7% | +3.0% | -2.1% | |
| Q2 2019 | -0.7% | +4.0% | +12.3% | |
| Q1 2019 | +0.5% | -3.0% | -19.0% | |
| Q4 2018 | -3.4% | -1.5% | -3.3% | |
| Q3 2018 | -5.3% | -9.0% | -13.9% | |
| Q2 2018 | +4.9% | -4.2% | -7.1% | |
| Q1 2018 | +8.1% | +6.1% | +3.5% | |
| Q4 2017 | -2.6% | +11.4% | -35.4% | |
| Q3 2017 | -9.6% | -5.3% | -10.1% | |
| Q2 2017 | -4.2% | +3.7% | -0.9% | |
| Q1 2017 | +7.3% | +6.1% | -13.3% | |
| Q4 2016 | -0.7% | +1.7% | -6.6% | |
| Q3 2016 | -14.0% | -11.7% | -4.2% | |
| Q2 2016 | +3.6% | +8.8% | +12.8% | |
| Q4 2015 | +3.6% | — | — | |
| Q3 2015 | -6.0% | — | — | |
| Q2 2015 | -4.3% | — | — | |
| Q1 2015 | -10.3% | — | — | |
| Q4 2014 | -7.0% | — | — | |
| Q3 2014 | -9.5% | — | — | |
| Q2 2014 | -0.4% | — | — | |
| Q1 2014 | +0.3% | — | — | |
| Q4 2013 | -2.5% | — | — | |
| Q3 2013 | +1.5% | — | — | |
| Q2 2013 | -0.9% | — | — | |
| Q1 2013 | -0.9% | — | — | |
| Q4 2012 | +2.8% | — | — | |
| Q3 2012 | +0.6% | — | — | |
| Q2 2012 | +1.6% | — | — | |
| Q1 2012 | +0.2% | — | — | |
| Q4 2011 | +5.1% | — | — | |
| Q3 2011 | -7.7% | — | — | |
| Q2 2011 | +2.6% | — | — | |
| Q1 2011 | +2.5% | — | — | |
| Q4 2010 | -0.7% | — | — | |
| Q3 2010 | +2.1% | — | — | |
| Q2 2010 | -1.7% | — | — | |
| Q1 2010 | +3.2% | — | — | |
| Q3 2009 | — | — | — | |
| Q2 2009 | — | — | — | |
| Q1 2009 | — | — | — | |
| Q3 2008 | — | — | — | |
| Q1 2008 | — | — | — |
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