Petrobras Q1 Earnings: Revenues And Earnings Suffer Due To Low Oil Price Environment, Company Cuts Capex

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PBR: Petroleo Brasileiro logo
PBR
Petroleo Brasileiro

 

Petroleo Brasileiro Petrobras (NYSE:PBR) released its Q1 2016 earnings report recently. [1] The low crude oil price environment continues to weigh significantly on the company’s upstream operations. As a result, Petrobras’ revenues and operating income have taken a massive hit in the first quarter. The following table provides an overview of the company’s earnings.

PBR Earnings Q1 2016 (1)

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PBR Earnings Q1 2016 (2)

 

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Notes:

1) The purpose of these analyses is to help readers focus on a few important things. We hope such lean communication sparks thinking, and encourages readers to comment and ask questions on the comment section, or email content@trefis.com
2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively. For precise figures, please refer to our complete analysis for Petrobras
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Notes:
  1. Financial Results, May 12, 2016, Petrobras Investor Relations []