Itaúsa (ITSA4) reported net income of R$ 5.244 billion in the second quarter of 2026 (2Q26), an increase of 29% compared to the same period in 2025. Recurring net income totaled R$ 4.306 billion, up 7% on the same comparison basis, with recurring return on equity (ROE) of 18.7%.
In the first half of 2026, Itaúsa’s net income came to R$ 9.654 billion, an increase of 22% compared to 1H25, while recurring net income was R$ 8.797 billion, 12% higher than a year earlier. ROE for the half-year was 21.2%, versus 17.9% in 1H25, and recurring ROE reached 19.3%, compared with 17.8% in the same period of the previous year.
The recurring performance in 2Q26 mainly reflected the higher result of Itaú Unibanco, which grew 8.5% in equity income recognized by Itaúsa, in addition to higher results from Motiva (+67%), Alpargatas (+86%) and Copa Energia (+17%). These effects offset weaker results from NTS, Dexco and Aegea and the holding company’s own result, which was pressured by higher tax expenses.
Non-recurring events had a positive impact of R$ 938 million on 2Q26 profit, mainly due to extraordinary income of R$ 851 million at Itautec, linked to success in judicial and administrative proceedings, and to a gain of R$ 78 million at Motiva from a bargain purchase in the Minas-SP (Fernão Dias) concession. In the half-year, non-recurring effects totaled R$ 857 million, also including a negative impact of R$ 131 million at Itaú Unibanco from extraordinary provisions.
At the end of June 2026, Itaúsa’s net debt stood at R$ 1.184 billion, compared to R$ 587 million in June 2025, while shareholders’ equity reached R$ 93.790 billion, up 5% year over year. Itaúsa’s market capitalization, calculated based on ITSA4 on 06/30/2026, was R$ 149.954 billion, versus R$ 120.357 billion a year earlier, and the market value of the investment portfolio (NAV) totaled R$ 189.353 billion.
