Copel (CPLE3) reported net income of R$ 688.4 million in 3Q26, up 89.0% from R$ 364.2 million in 3Q25. The result reflects stronger operating performance, with EBITDA (earnings before interest, taxes, depreciation and amortization) of R$ 1,922.2 million, and a R$ 55.7 million increase in equity income.
Recurring net income, which excludes non-recurring items, was R$ 673.1 million, up 79.6% from R$ 374.8 million in 3Q25. Recurring EBITDA reached R$ 1,805.9 million, up 35.0% from R$ 1,337.4 million in 3Q25. Recurring net operating revenue totaled R$ 6,434.3 million, up 8.8%.
At Copel Distribuição, recurring EBITDA was R$ 1,107.7 million, up 70.2%, driven by the 2026 Periodic Tariff Review (average effect of +8.6% on Parcel B) and by 5.8% growth in the billed wire market. At Copel Geração e Transmissão, recurring EBITDA was R$ 688.5 million, down 4.5%, due to a higher level of dispatch restrictions (curtailment) in wind generation. Hydro generation rose 42.1%.
Net income was partially offset by higher tax payments (R$ 163.6 million), a lower financial result (R$ 40.3 million) and higher depreciation and amortization (R$ 35.3 million). Investments totaled R$ 991.1 million in the quarter. As of September 30, 2026, net debt was R$ 19,840.2 million and leverage was 2.7x EBITDA, within the parameters of the company's capital structure.
Is CPLE3 worth investing in?
- Price
- R$ 15.28
- as of 11/11/2026
- Dividend yield
- 6.95 %
- P/L
- 14.54
- P/VPA
- 1.89
