Compass Gas e Energia (PASS3) Q1 2026 earnings summary

Executive summary

• Served 3.1 million customers with a 28,000 km gas network, reinforcing its position as a leading gas platform focused on sustainable growth and energy security.

• Completed a landmark IPO in May 2026, the first in Brazil in five years, raising up to R$3.2 billion and reflecting renewed investor interest and market confidence.

• Operations are divided into Distribution and Marketing & Services, with significant expansion in both segments, including off-grid B2B LNG and biomethane.

Financial highlights

• Net sales revenue was R$3.16 billion, down 25% year-over-year due to lower gas prices and customer migration to the free market.

• EBITDA reached R$1.33 billion, up 2% year-over-year; normalized EBITDA rose 12% to R$1.2 billion.

• Net income was R$382 million, a 9% decrease year-over-year, mainly due to higher financial expenses and depreciation from new projects.

• Investments totaled R$400 million, focused on expanding gas distribution.

• Free cash flow to equity was R$959 million for the quarter.

Outlook and guidance

• No formal guidance for 2026, as agreed with new shareholders.

• Focus on expanding LNG B2B off-grid operations and ramping up the Onebio biomethane plant, with continued investment in decarbonization and infrastructure to support energy transition and regulatory plans.

• The company is prepared to optimize margins amid global volatility, leveraging its flexible supply portfolio.