In its earnings release for the third quarter of 2026 (3Q26), Hypera S.A. (HYPE3) reported net income from continuing operations of R$ 527.0 million, an increase of 16.1% compared to 3Q25. Net revenue totaled R$ 2,435.8 million in the period, up 9.4% year over year, driven by higher sell-out in the pharmaceutical retail channel and the start of sales of Semavy, which marked the company’s entry into the Brazilian GLP-1 analog market.
Gross profit reached R$ 1,493.7 million in 3Q26, an increase of 9.7% versus the same quarter of 2025, with a margin of 61.3%, slightly above the 61.2% recorded a year earlier. EBITDA (earnings before interest, taxes, depreciation and amortization) from continuing operations came to R$ 782.3 million, an increase of 3.4% compared to 3Q25, with a margin of 32.1%, a reduction of 1.9 percentage points, reflecting higher Marketing and Sales expenses as a percentage of net revenue.
Net financial result was a negative R$ 148.2 million in 3Q26, R$ 80.8 million lower than in 3Q25, mainly due to a 42.3% reduction in net interest expenses, as a result of lower net indebtedness and a lower Selic rate. Operating cash flow totaled R$ 762.8 million in the quarter, equivalent to 97.5% of EBITDA from continuing operations, while free cash flow was R$ 553.7 million, after investments of R$ 139.8 million in property, plant and equipment and R$ 70.4 million in intangibles.
Hypera ended 3Q26 with net debt of R$ 5,610.1 million, down R$ 293.4 million from the R$ 5,903.5 million at the end of 2Q26, equivalent to 2.0 times EBITDA from continuing operations for the last 12 months. During the period, the company carried out its 22nd debenture issue in the amount of R$ 1.35 billion, at a cost of CDI+0.72%, and partially redeemed R$ 1.23 billion of the 16th and 17th issues, which had costs of CDI+1.35% and CDI+1.30%, reducing the weighted average cost of debt to the equivalent of CDI-0.5% at the end of the quarter.
The company also announced the distribution of Interest on Equity (JCP) of R$ 185.2 million, corresponding to R$ 0.26 per share. Hypera highlights that it continues to reduce investments in working capital, which came to represent 27% of the quarter’s annualized net revenue, versus 30% in 3Q25, supported by a reduction in days of inventory from 221 in 3Q25 to 186 in 3Q26.
