Movida Participações (MOVI3) Q3 2026 earnings summary

Executive summary

• 3Q26 net income reached R$152.1mn, up 117.4% YoY and above guidance; LTM ROIC rose to 16.6%, a four-year high.

• Record EBITDA of R$1.795bn and EBIT of R$1.086bn reflected stronger rental results, higher utilization, pricing gains and operating efficiencies.

Financial highlights

• Net revenue was R$3.870bn, up 2.8% YoY; rental revenue rose 19.3% to R$2.399bn, while used-car sales revenue declined 16.2% to R$1.471bn.

• EBITDA increased 21.4% to R$1.795bn and EBIT rose 27.2% to R$1.086bn, both quarterly records.

• 9M26 net income rose 90.8% to R$412.3mn; revenue increased 3.7% to R$11.417bn and EBITDA grew 20.4% to R$5.050bn.

Outlook and guidance

• Quarterly net income exceeded 3Q26 guidance; management expressed confidence in continued profitability improvement and further progress against targets.

• Existing GTF portfolio yield of 3.2% per month is expected to converge toward the 3.7% yield on new contracts.

• Maintenance costs fell 31% versus external service providers, with potential to lift EBITDA margin by up to 1 p.p.; new pit stop locations were scheduled to open by December.

• Strategic execution remains focused on disciplined fleet sizing and asset lifecycle management, efficiency, profitability gains and sustainable value creation.