Localiza Rent a Car (RENT3) Q2 2026 earnings summary

Executive summary

• Consolidated net revenue reached R$12.3 billion in 2Q26, up 24.5% year-over-year, with strong growth across all business lines and disciplined capital allocation.

• Net income rose 30.6% to R$1.0 billion, with EBITDA at R$3.8 billion (+14.1% YoY) and EBIT at R$2.3 billion (+15.1% YoY), reflecting operational efficiency and margin expansion.

• ROIC spread reached 6.1 p.p. in 1H26, evidencing a solid recovery in returns over the cost of debt.

Financial highlights

• Car Rental and Fleet Rental net revenues totaled R$5.2 billion (+8.8% YoY); Seminovos net revenue was R$7.2 billion (+38.9% YoY), with 92,043 vehicles sold.

• Net debt stood at R$32.4 billion (+4.2% YoY), with a net debt/fleet value ratio of 0.55x and net debt/EBITDA LTM at 2.16x.

• Free cash flow before interest for 1H26 was R$1.8 billion.

• End-of-period fleet in Brazil exceeded 670,000 vehicles, up 6.3% year-over-year.

Outlook and guidance

• Focus for 2H26 is on continued net revenue growth in Car Rental and Fleet Rental, and expanding the retail share in Seminovos.

• Ongoing pursuit of operational efficiency, technology adoption, and disciplined capital allocation for sustainable growth.

• Monitoring macroeconomic and automotive industry dynamics, with adjustments to depreciation and pricing as needed.