Bradsaúde (SAUD3) Q3 2026 earnings summary

Executive summary

• 3Q26 revenue was R$14.275bn, up 9.2% YoY, and net income was R$1.075bn, up 14.4%.

• Total health and dental beneficiaries reached 13.727m; quarterly net additions were 51k health and 67k dental lives.

• LTM ROAE was 25.4% at Sep26, versus 24.5% at Sep25.

Financial highlights

• 9M26 revenue reached R$41.538bn, up 9.6% YoY; net income was R$3.493bn, up 23.2%.

• LTM revenue totaled R$54.893bn, up 9.6%; LTM net income was R$4.315bn, up 22.7%.

• 3Q26 operating income was R$1.449bn, essentially flat YoY; underwriting result increased 3.7% to R$1.616bn.

• 3Q26 net income bridge included +R$58m underwriting, +R$70m financial income, -R$38m other operating effects, -R$25m equity income and +R$70m tax.

Outlook and guidance

• MLR-reduction initiatives, disciplined underwriting, successful annual renewals and a balanced portfolio were highlighted to support sustainable results.

• Atlântica’s contracted capacity reached 4,449 beds, with hospital projects extending through 2030.

• Jundiaí is planned as a 120-bed greenfield hospital expected to begin operations in 2030.