Petroleo Brasileiro S.A.- Petrobras American Depositary Shares: Q4 Earnings Insights
Portfolio Pulse from Benzinga Insights
Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) reported Q4 earnings with an EPS of $0.96, missing estimates by -7%, and a revenue decrease of $3.06 billion from the previous year. The company's past earnings miss was followed by a 10% share price drop.
March 08, 2024 | 11:35 am
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Petrobras reported a Q4 earnings miss with an EPS of $0.96 against estimates of $1.03 and a significant revenue drop from the previous year.
Given the reported earnings miss and the historical context of a 10% stock price drop following the last earnings miss, it's likely that PBR's stock price will face downward pressure in the short term. The significant revenue decrease further compounds the negative outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100