Axia Energia recorded net income of R$1.11 billion in the third quarter, compared with a net loss of R$5.45 billion in the same period a year earlier, according to its results released Wednesday, November 4.
Adjusted regulatory EBITDA reached R$6.92 billion from July through September, an 8.4% annual increase. Net regulatory operating revenue edged up 0.9% to R$10.03 billion.
The results were below analysts’ average forecasts, compiled by LSEG, of R$1.5 billion in net income and R$7 billion in EBITDA.
Investments totaled R$2.86 billion in the quarter, up 5.7% from the third quarter of 2025. Axia had also reported a profit of R$3.8 billion in the first half, reversing a loss from the corresponding period a year earlier.
The company is beginning the succession process for CEO Ivan Monteiro, who is expected to remain in the role until the end of his current term in April 2027. Monteiro took over the company, then known as Eletrobras, in August 2022, shortly after its privatization, and oversaw its rebranding as Axia.
The Brazilian government remains a significant shareholder, holding 40% of the company’s total capital, including holdings through public banks and state-owned company pension funds. However, its voting rights at shareholder meetings are subject to the same 10% limit that applies to any shareholder.
Sources: Folha Mercado.