Petrobras Q1 Profit Falls 7.2% to 32.66B Reais, $1.85B Payout Approved
Petrobras reported Q1 net profit of 32.66 billion reais, down 7.2% year-on-year and below analyst forecasts. The board approved a 9.03 billion-reais interest on equity distribution (≈0.70 real per share), representing a $1.85 billion payout to shareholders.
1. First-Quarter Net Profit Decline
Petrobras posted Q1 net profit of 32.66 billion reais, a 7.2% drop from the year-earlier period, falling short of market estimates amid softer upstream margins.
2. Board Approves 9.03 Billion Reais Interest on Equity
The board authorized payment of 9.03 billion reais in interest on equity, equating to 0.70 real per share and totaling approximately $1.85 billion to be distributed to shareholders.
3. Cash Flow and Shareholder Returns
The sizable equity payment will draw on Petrobras’s cash reserves, reducing available liquidity but underscoring the company’s focus on returning capital to investors.