Unipar Carbocloro (UNIP6) Q3 2026 earnings summary

Executive summary

• 3Q26 adjusted recurring EBITDA was R$180 million, down 32% YoY and 55% QoQ; consolidated net loss was R$15.9 million, while operating cash generation reached R$330 million.

• 9M26 adjusted recurring EBITDA was R$727 million, down 22% YoY; net income was R$144.7 million, down 70%, and operating cash generation was R$993 million.

Financial highlights

• Consolidated net revenue was R$1.283 billion in 3Q26, up 2% YoY and down 14% QoQ; 9M26 revenue was R$4.017 billion, up 3% YoY.

• Adjusted net revenue was R$1.248 billion in 3Q26, down 5% YoY and 16% QoQ; 9M26 was R$3.963 billion, down 1% YoY, excluding IAS 29 and currency-conversion effects.

• Reported EBITDA was R$122 million in 3Q26, down 53% YoY and 68% QoQ; 9M26 reported EBITDA was R$662 million, down 33% YoY.

• 3Q26 recurring adjusted EBITDA margin was 14%, versus 20% in 3Q25; 9M26 margin was 18%, versus 23% in 9M25.

• Consolidated operating cash flow was R$925.8 million in 9M26 versus R$835.5 million in 9M25; 9M26 capital expenditure was R$479 million.

Outlook and guidance

• No formal financial guidance was stated; results remained exposed to weak chemical spreads, restrained local demand, elevated input costs and currency movements.

• IMF October 2026 forecasts put global GDP growth at 3.1% in 2026 and 3.4% in 2027; Brazil’s Focus Report projected 2026 GDP growth of 1.75%, inflation of 5.2% and year-end Selic of 13.75%.

• Argentina’s voluntary dismissal program opened November 5; accepted departures were expected from November 30, 2026 to January 31, 2027, with costs recognized upon acceptance in 4Q26.

• The sustainable refrigeration project’s first phase is scheduled for December 2026 and full completion in 2027; potential emissions avoidance is up to 72,000 tonnes of greenhouse gases.

• IT/SC tax payments are expected to remain lower over the next two years, supported by accelerated depreciation on completed strategic projects.