The 10-second takeaway
For the quarter ended March 31 (Q1), Petrobras beat slightly on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share contracted significantly.
Margins dropped across the board.
Petrobras notched revenue of $36.27 billion. The three analysts polled by S&P Capital IQ wanted to see a top line of $35.75 billion on the same basis. GAAP reported sales were 7.6% higher than the prior-year quarter's $33.71 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.39. The three earnings estimates compiled by S&P Capital IQ predicted $0.64 per share. GAAP EPS of $0.39 for Q1 were 25% lower than the prior-year quarter's $0.52 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 30.4%, 630 basis points worse than the prior-year quarter. Operating margin was 18.2%, 480 basis points worse than the prior-year quarter. Net margin was 13.9%, 610 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $34.52 billion. On the bottom line, the average EPS estimate is $0.69.
Next year's average estimate for revenue is $143.02 billion. The average EPS estimate is $3.14.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 4,175 members out of 4,264 rating the stock outperform, and 89 members rating it underperform. Among 739 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 719 give Petrobras a green thumbs-up, and 20 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Petrobras is outperform, with an average price target of $37.12.
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