Petroleo Brasileiro SA Petrobras ADR

PBR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Petrobras Earnings: Solid Profitability Fails To Translate Into Higher Payouts

Allen Good , Andrea Burigana

May 12, 2026

Petrobras reported sequentially improved first-quarter results, supported by higher oil prices and production of 3.2 mboe/d, up 4% from end-2025 levels. Free cash flow nevertheless declined 15% year over year, weighing on payouts.

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Petroleo Brasileiro SA Petrobras ADR

Petrobras Earnings: Solid Profitability Fails To Translate Into Higher Payouts

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