In the release of its second-quarter 2026 (2Q26) results, published on Tuesday, August 11, 2026, Fras-le Mobility S.A. (FRAS3) reported net income of R$ 88.0 million, versus R$ 48.3 million in 2Q25. Consolidated net revenue in 2Q26 came to R$ 1,384.7 million, up 1.8% from the same period a year earlier, while EBITDA (earnings before interest, taxes, depreciation and amortization) totaled R$ 282.3 million, an increase of 18.4% on the same comparison.
In the quarter, gross profit reached R$ 493.5 million, with a gross margin of 35.6%, compared with 32.1% in 2Q25. Operating income was R$ 217.3 million, equivalent to an operating margin of 15.7%, versus 12.5% a year earlier. Net margin rose from 3.7% in 2Q25 to 6.4% in 2Q26, supported by higher operating profitability and a reduction in negative net financial result, which stood at R$ 86.1 million, an improvement of 13.7% year over year.
Net revenue in the domestic market totaled R$ 684.4 million in 2Q26, an increase of 8.6% over 2Q25, while the foreign market accounted for R$ 700.2 million, down 4.1% on the same basis. In US dollars, the foreign market totaled US$ 138.6 million, up 7.5% versus 2Q25. The company highlighted that, in constant currency, 2Q26 revenue would have reached approximately R$ 1,448.8 million, which would represent growth of 6.5% versus 2Q25, showing an unfavorable FX impact estimated at R$ 64.1 million.
Adjusted EBITDA, which excludes non-recurring events, matched reported EBITDA and was R$ 282.3 million in 2Q26, compared with R$ 238.4 million in 2Q25, with an adjusted EBITDA margin of 20.4%, versus 17.5% a year earlier. In the first half of 2026 (1H26), adjusted EBITDA totaled R$ 492.0 million, virtually stable compared to R$ 491.4 million in 1H25, with a margin of 18.7%.
In financial terms, investments (capex) in 2Q26 were R$ 22.4 million, a 54.1% decrease versus the R$ 48.8 million in 2Q25, and net debt ended June 2026 at negative R$ 1,277.3 million, compared with negative R$ 1,969.4 million in June 2025. Leverage, measured as net debt to EBITDA, was 1.3x at the end of 2Q26, versus 2.2x a year earlier.
