Marcopolo (POMO3, POMO4) reported net income of R$ 186.5 mn in the third quarter of 2026 (3Q26), down 43.4% from the same period in 2025, when it totaled R$ 329.6 mn. Consolidated net revenue was R$ 2,293.5 mn (R$ 2.3 bn), a decline of 8.5% from R$ 2,505.4 mn in 3Q25.
EBITDA (earnings before interest, taxes, depreciation and amortization) was R$ 274.1 mn, down 34.7% from R$ 419.8 mn in 3Q25. The EBITDA margin was 12.0%, versus 16.8% a year earlier. Gross profit totaled R$ 464.8 mn, down 30.5%, with a gross margin of 20.3% (26.7% in 3Q25). The net margin was 8.1%, versus 13.2%.
In revenue by region, Brazil posted R$ 1,212.4 mn (-2.5%), exports from Brazil totaled R$ 377.8 mn (+3.0%) and international operations reached R$ 703.2 mn (-21.4%). Among the overseas operations, Australia (Volgren) had a record quarter, with revenue of R$ 451.0 mn, up 55.8%. Argentina (R$ 88.5 mn, -65.7%) and Mexico (R$ 102.2 mn, -58.5%) posted declines. South Africa had revenue of R$ 46.0 mn (-40.3%) and China, R$ 14.7 mn (-39.3%).
In the first nine months of 2026, net income was R$ 722.4 mn, down 19.2% from R$ 893.8 mn in the same period of 2025. Net revenue totaled R$ 6,322.0 mn (-2.6%) and EBITDA, R$ 917.4 mn (-15.1%). Earnings per share in 3Q26 were R$ 0.151, versus R$ 0.292 in 3Q25.
The ratio of industrial net debt to EBITDA stood at 0.3x at the end of 3Q26, with industrial net debt of R$ 341.1 mn (R$ 69.5 mn in 3Q25). ROIC (return on invested capital) was 20.0%. Production in Brazil was 2,240 units, down 20.4% from 3Q25. The company cites high interest rates constraining fleet renewals and limited order backlog visibility, especially for early 2027, and reports adjustments to structure and costs in its Brazilian and international operations.
