Grupo GPS (GGPS3) Reports Net Income of R$ 162 Million in 3Q26

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) ex-IFRS16 was R$ 456 million in 3Q26, 5% higher than in 3Q25, with a margin of 9.7%, 0.1 percentage point below the 3Q25 margin. Adjusted net income was R$ 193 million, up 3%, with an adjusted net margin of 4.1%. In the nine months of 2026, net income was R$ 665 million, versus R$ 430 million in 9M25, and net revenue totaled R$ 13,775 million, up 7%. Adjusted net income for the nine months was R$ 761 million, versus R$ 524 million in 9M25; excluding the effect of the S system, it totaled R$ 532 million, up 1%. The company states that adjusted net income is not the basis for dividend distribution.

Operating cash generation in the nine months was R$ 1,656 million, equivalent to 124% of adjusted EBITDA. Net debt stood at R$ 2,347 million at the end of September, and leverage (net debt over adjusted EBITDA ex-IFRS16 for the last 12 months) was 1.3x, versus 1.5x in 3Q25. Gross debt totaled R$ 6,538 million, and cash was R$ 4,191 million.

On the acquisitions agenda, the company completed the purchases of Grupo SEI, Uniflex and Grupo Aster and announced the purchase of Qualidados, announced on September 21, 2026, which is still subject to approval by Cade (Administrative Council for Economic Defense). The transactions total R$ 859 million in gross revenue in the 12 months prior to the signing of the contracts.

The company says it expects a challenging environment in the coming quarters, due to post-election volatility, high interest rates and the implementation of labor and tax changes. Renegotiating existing contracts to reflect the shorter workweek will take time, and the priority will be to preserve contract profitability, even if organic growth is slower.