TIM (TIMS3) reported normalized net income of R$ 1,113 million (R$ 1.1 billion) in 3Q26, down 7.8% from 3Q25, when it totaled R$ 1,208 million. According to the company, the decline stems from higher Income Tax and Social Contribution, due to a lower declaration of JSCP (Interest on Equity), a worse financial result, with an 18.0% increase in net financial expenses, and higher depreciation and amortization, an effect of the consolidation of I-Systems. Reported net income, without adjustments, was R$ 991 million.
Net revenue reached R$ 7,069 million (R$ 7.1 billion), up 5.3% from 3Q25. Service revenue totaled R$ 6,882 million (+5.3%), with mobile service at R$ 6,451 million (+4.0%) and fixed service at R$ 430 million (+30.1%). Mobile ARPU (average revenue per user) was R$ 34.8, up 5.0%.
Normalized EBITDA (earnings before interest, taxes, depreciation and amortization) grew 6.7% to R$ 3,701 million, with a margin of 52.4% (+0.7 p.p.). EBITDA-AL, which accounts for the effect of leases, rose 7.6% to R$ 2,917 million, with a margin of 41.3%. Reported EBITDA was R$ 3,486 million (+0.5%). Capex (investments) was R$ 978 million, and operating cash flow (EBITDA-AL minus Capex) totaled R$ 1,939 million, up 11.6%. In 9M26, operating cash flow totaled R$ 4,976 million, and the company says it is on track to deliver its 2026 targets.
Total net debt stood at R$ 11,126 million at the end of September, with leverage of 0.78x normalized EBITDA, versus 0.89x in June. The mobile base reached 61.6 million customers (-1.7% Y/Y), and the TIM Ultrafibra base reached 931 thousand (+13.2%). In 9M26, the company announced R$ 1,305 million in JSCP and repurchased R$ 252 million in shares, totaling R$ 1,557 million in shareholder remuneration. The remuneration target of R$ 5.3 billion to R$ 5.5 billion in 2026 was confirmed, and the company announced a new share buyback program. The Board also approved, on September 17, JSCP of R$ 515 million.
TIM also approved, on October 30, the merger of I-Systems, subject to the shareholders' meeting scheduled for November 30, 2026. The earnings conference call takes place on November 10, at 10 a.m. (Brasília time).
