Itaú (ITUB4) posts R$ 12.6 bn profit in 3Q26 and YDUQS (YDUQ3) approves merger of Afya

Itaú (ITUB4) posted a profit of R$ 12.6 bn in 3Q26, up 6.7% year over year, with a Basel Ratio (a measure of banks' capital strength) of 15.4%. The bank also revised its IR/CS tax rate to 28% to 29% in its 2026 guidance. YDUQS (YDUQ3) approved the merger of Afya and called a shareholders' meeting.

Other 3Q26 results: Suzano (SUZB3) earned R$ 2.1 bn and projected net debt below US$ 14 bn in 2026. Vale (VALE3) projected iron ore production of 335-345 Mt in 2026. Localiza (RENT3) reported net income of R$ 1.1 bn, and Sabesp (SBSP3) had net income of R$ 1.4 bn and approved JCP (interest on equity, a form of shareholder remuneration) of R$ 0.75 per share. Vibra (VBBR3) earned R$ 2.5 bn, and Axia Energia (AXIA3) earned R$ 1.1 bn, with R$ 1.8 bn in adjusted earnings. Klabin (KLBN11) closed a deal for a forestry SPE with a R$ 1.2 bn contribution.

At PRIO (PRIO3), profit was US$ 521 mn in 3Q26, up 468%, and October production was 196.4 thousand boepd. Shares fell 15.40% during the week. At Tupy (TUPY3), the R$ 54 mn profit reversed the prior loss, and shares rose 18.88%. At Smart Fit (SMFT3), recurring net income was R$ 248 mn, with shares up 17.59%. At Petrobras (PETR4), Fitch raised the standalone credit profile to 'bbb+'.

At Oncoclínicas (ONCO3), the courts suspended the extraordinary shareholders' meeting, and the company obtained creditor adherence to R$ 4.3 bn in the restructuring. Lojas Renner (LREN3) discontinued its revenue growth guidance. There were also significant stake notices: BlackRock in Copasa (CSMG3), GQG Partners in Axia Energia (AXIA3) and MAK Capital in Hapvida (HAPV3), each with 5%.