Quarterly ResultMay 12, 2026, 06:12 AM
PETROBRAS 1Q26 Adjusted EBITDA $11.7B; Net Income $4.5B
AI Summary
PETROBRAS reported solid financial results for Q1 2026, with Adjusted EBITDA excluding one-off events reaching $11.7 billion, a 7.3% increase from Q4 2025. Consolidated net income attributable to shareholders surged 113.8% to $6.2 billion, significantly influenced by foreign exchange gains and impairment reversal. The company maintained strong cash generation with operating cash flow of $8.4 billion and free cash flow of $3.9 billion, supported by record oil and gas production. Additionally, PETROBRAS approved R$9.0 billion in shareholder remuneration and announced the early start-up of FPSO P-79 (Búzios 8) on May 1, 2026.
Key Highlights
- Adjusted EBITDA (excl. one-off) rose 7.3% QoQ to $11.7 billion.
- Consolidated net income increased 113.8% QoQ to $6.2 billion.
- Operating cash flow was $8.4 billion; free cash flow was $3.9 billion.
- Total Capex decreased 19.1% QoQ to $5.1 billion.
- Shareholder remuneration of R$9.0 billion approved for 1Q26 results.
- Gross debt increased 2.0% QoQ to $71.2 billion; net debt rose 2.5% to $62.1 billion.
- E&P segment Adjusted EBITDA grew 8.9% QoQ to $10.3 billion.
- RTM segment Adjusted EBITDA surged 108.8% QoQ to $3.8 billion.