Petrobras Posts BRL 52.4 Billion Quarterly Profit and Approves BRL 17.4 Billion Payout as Brent Averages USD 97

Petrobras closed the second quarter of 2026 with net income of BRL 52.4 billion, up 97% year on year, and its board approved BRL 17.4 billion in shareholder remuneration split between dividends and interest on own capital. Brent averaged USD 97 per barrel between April and June, 24% above the first-quarter average of USD 78.

The payout equals BRL 1.34814262 per share, identical for the PETR3 ordinary and PETR4 preferred lines. It was approved as an anticipation of the 2026 financial year, based on the balance sheet of June 30, 2026.

Adjusted EBITDA reached BRL 93.8 billion and sales revenue BRL 169.5 billion in the quarter. Stripping out one-off events, profit was BRL 55.8 billion.

Own oil production hit a record 2.69 million barrels per day. Exports ran at roughly 1 million barrels per day, a 40% year-on-year advance. Refineries operated at a record utilization factor close to 101%.

The distribution follows the company's shareholder remuneration policy, which provides for paying out 45% of free cash flow when gross debt is at or below the maximum level set in the strategic plan. The 2026-2030 business plan sets that ceiling at USD 75 billion; gross debt stood at approximately USD 70.8 billion at the end of the quarter, below the limit. Petrobras said the payment is compatible with the company's financial sustainability.

For shares traded on B3, the record date is August 21, 2026, and investors must hold the stock at the close of that session to qualify. PETR3 and PETR4 trade ex-rights from August 24, 2026, without entitlement to the BRL 1.34814262 per share.

The first tranche of BRL 0.67407131 per share is due on November 23, 2026, entirely as interest on own capital. The second tranche, also BRL 0.67407131 per share, is scheduled for December 21, 2026, split into BRL 0.47156696 in dividends and BRL 0.20250435 in interest on own capital. Interest on own capital carries a 17.5% withholding tax at source, deducted before the credit reaches the shareholder, except in cases provided for by law. Dividend payments from the same company to the same individual resident in Brazil exceeding BRL 50,000 in a single month are subject to a 10% income tax withholding.

Holders of American Depositary Receipts listed on the New York Stock Exchange face a record date of August 25, 2026, with the two tranches paid from December 1 and December 29, 2026. The announcement was published on August 6, 2026 at 19h42 by Denise Luna, Gabriela da Cunha and Talita Nascimento of Broadcast.

Sell-side estimates ahead of the release clustered below the approved figure when converted to ordinary dividends. Citi projected up to USD 3.5 billion in ordinary dividends with a dividend yield of roughly 3%. XP estimated USD 3 billion and a 2.9% yield. Safra worked with USD 2.8 billion and a 2.7% return. BTG Pactual projected USD 2.5 billion in ordinary dividends and a yield of about 2.2%.

Consensus on the quarter itself pointed to net income of BRL 45.536 billion, a 70.9% annual advance, or USD 8.911 billion, up 88.2%. Projected EBITDA was BRL 91.300 billion, a 74.7% annual change, or USD 17.963 billion, up 94.4%. Estimated net revenue came to BRL 161.620 billion, 35.7% higher year on year, equivalent to USD 31.819 billion, up 51.3%. The reported figures for profit, EBITDA and sales revenue all landed above those marks.

Petrobras had scheduled the second-quarter results for Thursday, August 6, 2026, after the market close, according to bpmoney.