Movida Participações (MOVI3) Q2 2026 earnings summary

Executive summary

• Net income doubled year-over-year in 2Q26 to R$136 million, surpassing guidance and marking the highest second-quarter result in four years, driven by operational efficiency, customer experience, and disciplined capital allocation.

• Net revenue reached an all-time high of R$3.77 billion, up 2.4% year-over-year, supported by higher rental pricing, increased fleet utilization, and strong demand in rental and fleet management.

• EBITDA hit a record R$1.69 billion (+22.3% YoY), with EBIT surpassing R$1 billion for the first time (+29.3% YoY), and ROIC reached a record 16.7% (+4.0 p.p. YoY), 5.7 p.p. above the average cost of debt.

• Expansion in long-term contracts, disciplined asset management, and innovation in customer service enhanced future earnings visibility and customer satisfaction, with NPS reaching up to 91%.

Financial highlights

• Net income: R$136 million (+100.7% YoY); net revenue: R$3.77 billion (+2.4% YoY); rental revenue: R$2.30 billion (+21.3% YoY).

• EBITDA: R$1.69 billion (+22.3% YoY); EBITDA margin 72.8% (+1.0 p.p. YoY); EBIT: R$1.02 billion (+29.3% YoY); EBIT margin 44.8% (+7.3 p.p. YoY).

• ROIC reached 16.7% in 2Q26 LTM, 4.0 p.p. higher YoY and 5.7 p.p. above average debt cost.

• Net debt stood at R$17.2 billion; net debt/EBITDA improved to 2.66x from 2.90x YoY; gross debt at R$20.6 billion.

• Strong cash position of R$3.4 billion at quarter-end, with average debt cost at CDI +1.8% and average maturity of 3.9 years.

Outlook and guidance

• 3Q26 net income guidance set at R$130–150 million, about double 3Q25, reflecting continued operational discipline.

• 9M26 net income projected at R$400 million (+85% YoY), expected to exceed full-year 2025 by 26%.

• Conservative guidance reflects a cautious approach amid macroeconomic volatility and ongoing margin expansion.