Iochpe-Maxion (MYPK3) posted a net loss of R$ 16 mn in 3Q26 (R$ 16.0 mn), versus a profit of R$ 35.1 mn in 3Q25. The result was affected by a €15 mn (R$ 88.7 mn) provision related to a regulatory matter, recorded in other operating expenses, and by a larger negative financial result, which reached R$ 193.1 mn, up 33.6%. Net operating revenue totaled R$ 4.4 bn (R$ 4,404.9 mn), growth of 15.8% over 3Q25.
EBITDA (earnings before interest, taxes, depreciation and amortization) was R$ 386.3 mn, with a margin of 8.8%, versus R$ 360.4 mn and 9.5% in 3Q25. Excluding non-recurring items, adjusted EBITDA reached R$ 480.5 mn, up 22.6%, with a margin of 10.9%, versus 10.3% in 3Q25. Gross profit was R$ 587.2 mn, an increase of 27.6%, with a gross margin of 13.3%. The company attributes the margin expansion to greater dilution of fixed production costs, particularly in commercial vehicles in North America and in the operations in India. Operating profit (EBIT) was R$ 259.8 mn, with a margin of 5.9%.
Revenue was driven by the light vehicle businesses in Brazil, the recovery of commercial vehicles in North America and performance in Asia. It was partially offset by lower commercial vehicle activity in Brazil and by the appreciation of the real against the dollar, which reduced revenue by R$ 233.8 mn in the quarter. The financial result also reflects about R$ 25.8 mn tied to the accelerated amortization of costs from the previous bond and the premium on early redemption, as part of a transaction that extended the debt maturity profile.
Net debt was R$ 3,723.1 mn at the end of September, up 1.0% from June and down 5.9% from December 2025. Leverage (net debt to trailing 12-month EBITDA) stood at 2.50x, versus 2.52x in 2Q26 and 2.55x in 3Q25. Cash totaled R$ 1,903.8 mn and gross debt was R$ 5,630.2 mn, of which 95.5% was long-term. Capital expenditures totaled R$ 123.3 mn, down 13.3% from 3Q25.
In the first nine months of 2026, revenue was R$ 12,224.7 mn, up 3.2%, and net income totaled R$ 74.7 mn, down 43.7% from R$ 132.8 mn in the same period of 2025. Adjusted EBITDA for the nine months was R$ 1,211.9 mn, up 2.2%. MYPK3 shares closed the quarter at R$ 9.25, up 2.5% in the period, with a market value of R$ 1,421.9 mn.
