Bradsaúde (SAUD3) reported net income of R$ 1.075 billion in the third quarter of 2026 (3Q26), up 14.4% from 3Q25, driven by higher total revenue, a larger equity pickup result, especially from Atlântica Hospitais, efficiency gains in administrative expenses, and a lower effective income tax rate. Total revenue came to R$ 14.275 billion in 3Q26, an increase of 9.2% year over year, while the consolidated loss ratio reached 84.5%, up 0.5 percentage point from 84.0% in 3Q25.
In the first nine months of 2026, net income was R$ 3.493 billion, an increase of 23.2% compared to the R$ 2.835 billion in 9M25, with a net margin of 8.5%. Total revenue in the period amounted to R$ 41.538 billion, up 9.6% versus 9M25. In the 12 months to September 2026, net income reached R$ 4.315 billion, an increase of 22.7% over the prior 12-month period, with return on average equity (ROAE) of 25.4%.
Bradsaúde’s beneficiary base reached 13.7 million lives in 3Q26, up 5.7% in 12 months, with 4.126 million in medical-hospital plans and 9.601 million in dental plans. Net additions in the quarter totaled 117 thousand lives, split into 51 thousand in health and 67 thousand in dental; over 12 months, net additions came to 745 thousand lives, with 276 thousand in health and 469 thousand in dental, with emphasis on the SME segment, which accounted for 43% of health additions over 12 months and for 55 thousand of the 67 thousand new lives in dental in 3Q26.
In the medical-hospital plan segment, earned premiums totaled R$ 13.490 billion in 3Q26, up 9.5% versus 3Q25, and net income reached R$ 857 million, growth of 13.7% in the same comparison. In dental plans, earned premiums were R$ 645 million in the quarter, an increase of 7.8% year over year, with net income of R$ 145 million, 12.6% higher than in 3Q25 and a net margin of 22.5%.
Atlântica Hospitais reported net income of R$ 53.325 million in 3Q26, an increase of 190.7% compared to 3Q25, and accumulated R$ 138.777 million in the 12 months to September 2026, versus R$ 26.411 million in 2025. In the quarter, two new hospitals were announced in Nova Lima (MG) and Jundiaí (SP), adding 348 beds to the pipeline and raising the total number of contracted beds projected through 2030 to 4,449. Bradsaúde’s consolidated financial assets totaled R$ 30.776 billion in September 2026, 8.2% above September 2025, mostly invested in government bonds indexed to the IPCA, while the financial result for 3Q26 was R$ 685 million, down 5.2% versus 3Q25.
In terms of shareholder remuneration in 2026, R$ 1.48 billion in distributions has already been approved, of which R$ 1.0 billion in dividends and R$ 480 million in interest on equity (JCP). For 3Q26, dividends total R$ 1.0 billion, equivalent to R$ 0.3420595420 per share, with record date on October 30, 2026 and payment scheduled for March 30, 2027; 3Q26 JCP totals R$ 250 million, or R$ 0.0855148860 per share, with payment on February 26, 2027.
