Taesa (TAEE3, TAEE4, TAEE11) reported regulatory net income of R$ 363.8 mn in 3Q26, up 12.5% from R$ 323.3 mn in 3Q25. Regulatory net revenue totaled R$ 798.4 mn, an increase of 22.7%, driven by the start of operations at Ananaí, Saíra (2nd phase) and Tangará, the acquisition of five assets completed in August 2026, and the adjustment of the RAP (Annual Permitted Revenue) for the 2026-2027 cycle.
Regulatory EBITDA (earnings before interest, taxes, depreciation and amortization) reached R$ 687.2 mn, up 25.2%, with a margin of 86.1% (+1.7 percentage point). Operating costs and expenses rose 9.4%, to R$ 111.2 mn. Depreciation and amortization totaled R$ 148.1 mn (+12.8%) and net financial expenses were R$ 249.0 mn (+9.7%). Equity income was R$ 99.2 mn, down 6.9%.
In the 9M26 cumulative period, regulatory net revenue was R$ 2.1 bn (R$ 2,133.1 mn), up 14.1%. Regulatory EBITDA reached R$ 1.8 bn (R$ 1,826.5 mn), up 15.6%, with a margin of 85.6%. Regulatory net income was R$ 763.2 mn, down 4.7%. In corporate results (IFRS), 3Q26 net income was R$ 360.7 mn (+5.9%) and 9M26 net income was R$ 1.3 bn (R$ 1,281.5 mn, +6.3%).
The Board of Directors approved interim dividends of R$ 363.8 mn (R$ 1.06 per unit), equivalent to 100% of the quarter's regulatory net income. Payment will take place on January 27, 2027, with a record date of November 16, 2026.
Proportional net debt totaled R$ 15.2 bn (R$ 15,153.0 mn), representing 4.7 times EBITDA, compared with 4.2 times in 2Q26. In 9M26, investments were R$ 511.9 mn in construction works, in addition to R$ 2.4 bn for the acquisition of the five operating assets.
Is TAEE11 worth investing in?
- Price
- R$ 40.72
- as of 11/10/2026
- Dividend yield
- 7.38 %
- P/L
- 8.63
- P/VPA
- 1.74
