Vibra (VBBR3) reported net income of R$ 2.5 bn in the third quarter of 2026 (3Q26), compared with R$ 407 mn in 3Q25. The exact figure was R$ 2,460 mn. Adjusted net income was R$ 2.4 bn (R$ 2,433 mn), versus R$ 546 mn in the same period of the previous year.
Adjusted net revenue reached R$ 56.9 bn, up 17% from 3Q25. Adjusted Ebitda (earnings before interest, taxes, depreciation and amortization, with adjustments) was R$ 4.3 bn (R$ 4,288 mn), up 137%. Recurring adjusted Ebitda, which excludes non-recurring items, totaled R$ 3.7 bn (R$ 3,660 mn). Sales volume was 9,612 thousand m³, up 4%. The adjusted Ebitda margin was R$ 427/m³, and the recurring margin was R$ 381/m³.
In the Gas Station Network, adjusted Ebitda was R$ 2.9 bn (+157%), with 210 new stations in the quarter and 7,686 units at the end of the period. In B2B (sales to businesses), adjusted Ebitda was R$ 1.3 bn (+132%), with 99 new contracts. In Renewables (Comerc), adjusted Ebitda was R$ 184 mn (+8%) and adjusted net income was R$ 76 mn, compared with a loss of R$ 9 mn in 3Q25.
Net debt stood at R$ 14.4 bn, a decrease of R$ 1.7 bn in the quarter (-10% vs 2Q26). Leverage (net debt to adjusted Ebitda over the last 12 months) fell from 1.3x to 1.0x. The average cost of debt declined to CDI + 0.10% per year and the average maturity rose to 5.5 years. Return on invested capital (ROIC) for distribution was 32.8%. Operating cash flow was R$ 2.7 bn, down 29% from 3Q25.
During the quarter, the company announced R$ 499 mn in JCP (Interest on Equity), related to 2026, with payment scheduled for November 2027. For the year, announced shareholder distributions total about R$ 1.5 bn. Vibra will hold a webcast on the results on November 5, 2026, at 10 a.m. (Brasília time).
