Summary by Moomoo AI
Petroleo Brasileiro SA Petrobras (Petrobras) reported strong financial results for the third quarter of 2024, despite a challenging external scenario with declining Brent prices. The company was able to offset the impact of lower prices with higher sales volumes of oil products, leading to a net profit of US$ 5.9 billion and recurring EBITDA of US$ 11.6 billion. Operating cash generation remained robust at US$ 11.3 billion, a 24% increase from the previous quarter. The company's financial debt reached its lowest level since 2008 at US$ 25.8 billion, with gross debt under control at US$ 59.1 billion. Investments for the first nine months of 2024 totaled US$ 10.9 billion, a 19.5% increase compared to the same period in 2023. Petrobras also highlighted the early start-up of Maria Quitéria FPSO and the operation of FPSO Marechal Duque de Caxias, as well as the arrival of FPSO Almirante Tamandaré in Brazil, reflecting the company's commitment to its Strategic Plan and value creation for shareholders and Brazilian society.
