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Petroreconcavo
Petroreconcavo (RECV3) investor relations material
Petroreconcavo Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary19 Mar, 2026
Executive summary
Net revenue reached R$ 3.2 billion in 2025, down 3% year-over-year, with natural gas commercialization and operational resilience partially offsetting oil price declines; annual production averaged 26,500 boe/day, up 1% year-over-year.
EBITDA for 2025 was R$ 1.4 billion, down 12% year-over-year; Net Income was R$ 638 million, up 46% year-over-year, but fell 58% quarter-over-quarter in 4Q25.
Operational stability and resilience were supported by technical advances in drilling, reserve development, cost optimization, and midstream asset acquisitions.
Strategic initiatives included acquisition of 50% of UPGN Guamaré/Brava Energia's midstream assets, expansion of gas commercialization, and new logistics agreements.
Social impact projects benefited 21,000 people, with recognition in B3's Dividend Index and Great Place to Work.
Financial highlights
Net revenue: R$ 3.2 billion in 2025 (down 3% YoY); R$ 704 million in 4Q25 (down 10% QoQ).
EBITDA: R$ 1.4 billion in 2025 (down 12% YoY); R$ 295 million in 4Q25 (down 16% QoQ); EBITDA margin: 45.7% in 2025.
Net income: R$ 638 million in 2025 (up 46% YoY); R$ 51 million in 4Q25 (down 58% QoQ); adjusted net income: R$ 406 million in 2025 (down 40% YoY).
Free cash flow: R$ 196 million in 2025, down from R$ 1 billion in 2024; negative R$ 135 million including midstream investments.
Net debt: R$ 1.6 billion at year-end 2025; Net Debt/EBITDA at 1.10x.
Outlook and guidance
2026 CapEx to be more conservative, focused on conventional drilling, workovers, and secondary recovery, with flat production expected.
65% of 2026 oil production is hedged, providing downside protection and upside capture; hedging coverage expanded into 2028.
Flexibility to accelerate investments if oil prices remain high, with quarterly reviews of capital allocation.
Current reserves support 19 years of production at the 2025 pace, with a reserve replacement ratio of 1.0x.
Uncertainty in oil and gas prices persists, with readiness to adapt plans as market evolves.
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Latest events from Petroreconcavo
- Record revenue, EBITDA, and cash flow growth with stable production and major investments.RECV3
Q2 20242 Feb 2026 - Net revenue and income rose, with robust dividends and new projects driving future growth.RECV3Q3 202415 Jan 2026
- Record EBITDA and net revenue, with robust cash flow and high dividend payout in 2024.RECV3Q4 202427 Dec 2025
- Net income rose 5% as production held steady and strategic investments accelerated.RECV3Q2 202523 Nov 2025
- Net revenue and EBITDA up sharply, with strong cash flow, lower leverage, and 50% hedged.RECV3Q1 202520 Nov 2025
- Sequential declines in revenue and EBITDA offset by strategic investments and asset acquisitions.RECV3Q3 202513 Nov 2025
Next Petroreconcavo earnings date
Q1 20268 May, 2026
Petroreconcavo
Next Petroreconcavo earnings date
Q1 20268 May, 2026
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