Companhia Paranaense de Energia (CPLE6) Q3 2026 earnings summary

Executive summary

• 3Q26 recurring EBITDA rose 35.0% YoY to R$1,805.9 million and recurring net income increased 79.6% to R$673.1 million; reported EBITDA was R$1,922.2 million and net income R$688.4 million.

• 9M26 reported net income rose 49.9% to R$2,429.9 million and reported EBITDA grew 24.5% to R$5,823.8 million; recurring EBITDA reached R$5,173.2 million, up 23.9%.

Financial highlights

• 3Q26 recurring operating revenue was R$6,434.3 million, up 8.8% YoY; recurring operating costs and expenses increased 1.8% to R$5,040.2 million.

• 9M26 net revenue rose 10.6% to R$20,938.9 million; Q3 revenue was R$6,953.1 million, up 2.1%.

• 9M26 EBIT increased 28.4% to R$4,602.7 million; Q3 EBIT rose 53.8% to R$1,510.4 million.

• 9M26 EBITDA margin was 27.8% versus 24.7%; Q3 margin was 27.6% versus 19.9%.

• 9M26 operating cash flow was R$1,660.9 million versus R$2,509.2 million YoY; investing used R$1,499.2 million and financing used R$85.6 million.

Outlook and guidance

• 2027 sales plan calls for selling 14% of physical guarantee during 2026 at prices above PLD to protect margins; portfolio availability is projected at 15% in 2026, 18% in 2027, 27% in 2028 and 52% in 2029–2030.

• Foz do Areia expansion adds 860 MW to 1,676 MW capacity with R$1.3 billion investment; Segredo adds 1,266 MW to 1,260 MW capacity with R$3.6 billion investment.

• 2026 investment plan totals R$3,718.2 million; R$2,529.9 million, or 68%, was invested through Q3, including R$1,477.2 million in distribution and R$987.2 million in generation and transmission.

• Leverage policy targets 2.9x net debt/EBITDA, within a 2.6x–3.2x tolerance band, with convergence within 48 months; reported 2026 leverage was 2.7x.

• Distribution power contracting is projected at 101.6% at year-end, within regulatory pass-through limits, with no expected overcontracting penalty.