Companhia de Saneamento do Paraná - SANEPAR (SAPR4) Q3 2026 earnings summary

Executive summary

• 3Q26 net operating revenue rose 7.6% YoY to R$1,940.5m; net income increased 22.8% to R$302.6m and EBITDA rose 31.8% to R$732.4m.

• 9M26 revenue increased 8.9% to R$5,788.0m, while reported net income fell 91.3% to R$150.1m amid IRPJ lawsuit and regulatory-liability accounting effects.

• Adjusted for listed non-recurring items, 9M26 net profit was R$1,348.0m versus R$1,017.6m; adjusted EBITDA was R$2,375.9m versus R$2,299.6m.

Financial highlights

• 3Q26 gross operating revenue rose 7.3% YoY to R$2,079.5m; water revenue increased 5.8% and sewage revenue 8.8%.

• 9M26 reported EBITDA was R$2,116.2m, down 4.1%; 3Q26 operating income rose 37.9% to R$552.5m, while 9M operating income declined 9.1% to R$1,589.0m.

• 3Q26 net financial result was negative R$50.6m versus positive R$48.8m in 3Q25, mainly because prior-year court-ordered payment income did not recur.

• 3Q26 operating costs and expenses, excluding court-ordered payment and regulatory-liability effects, increased 10.4%; third-party services rose 16.2%.

• 9M26 electricity expense increased 25.7% YoY and third-party services expense increased 6.6%.

Segment performance

• 3Q26 treated water volume rose 1.0% YoY to 140.0m m³; invoiced water volume increased 1.5% to 146.6m m³. 9M invoiced water volume rose 2.5% to 450.4m m³.

• Invoiced sewage volume grew 2.9% YoY to 121.4m m³ in 3Q26 and 3.6% to 369.6m m³ in 9M26.

• 9M26 water and sewage revenue was R$3,531.8m and R$2,256.2m, respectively.

• At Sep-26, water connections totaled 3.57m and sewage connections 2.71m; water coverage was 100%, sewage coverage 83.5%, and all collected wastewater was treated.