Petrobras Earnings Take Hit on Settlement, but Operationally Firm Remains on Track
Petrobras reported fourth-quarter earnings that largely met our expectations and demonstrated that its recovery remains on track, leaving our fair value estimate and moat rating unchanged. While headline figures looked poor, with adjusted EBITDA slipping to BRL 13.0 billion from BRL 24.8 billion last year, they were largely the function of charges related to class-action settlements and impairments not underlying operating results. The upstream segment saw adjusted EBITDA rise to BRL 17.9 billio...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.