ENGIE Brasil (EGIE3) Reports Net Income of R$ 711 mn in 3Q26

Net operating revenue reached R$ 3,670 mn, up 9.8% from R$ 3,343 mn in 3Q25. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) totaled R$ 1,948 mn, up 4.1% from R$ 1,882 mn in 3Q25. The adjusted EBITDA margin was 53.1%, versus 56.0% in 3Q25. In the year to September 2026, adjusted EBITDA was R$ 6,376 mn, up 10.3% from R$ 5,797 mn in the first nine months of 2025, and net income was R$ 3,465 mn, versus R$ 2,132 mn in the first nine months of 2025.

Among the quarter's drivers, the generation segment contributed an increase of R$ 124 mn to results. Transmission fell R$ 25 mn and equity income from TAG fell R$ 22 mn. Depreciation and amortization increased R$ 70 mn and the financial result worsened R$ 42 mn. Since July 17, the 40% stake in Jirau Energia has been recognized and contributed R$ 35 mn to EBITDA in the quarter. The 17.5% stake in TAG contributed R$ 144 mn. Energy sold under contracts, excluding trading, totaled 11,062 GWh, up 7.3%, with an average net price of R$ 201.77/MWh, down 4.7%.

Net debt was R$ 25,286 mn at the end of 3Q26, versus R$ 24,534 mn a year earlier. The ratio of net debt to adjusted EBITDA for the last 12 months stood at 3.1 times. Gross debt totaled R$ 30,154 mn, a 6.2% reduction from June 30. On July 20, the company completed the settlement of the renegotiation of the Use of Public Asset (UBP) for the Cana Brava and Ponte de Pedra plants, with a total payment of R$ 2.23 bn. On November 5, the Board of Directors approved calling a shareholders' meeting to vote on the merger of the subsidiary ENGIE Brasil Energia Comercializadora.

Fitch Ratings upgraded the company's long-term local-currency international rating from 'BBB-' to 'BBB', with a stable outlook.