Brazilian energy company Eneva SA said on Wednesday its second-quarter 2026 revenue exceeded analyst expectations, though earnings per share fell short of estimates, according to the transcript of its earnings call.
The company reported revenue of 3.4 billion reais ($610 million) for the quarter, topping the 3.2 billion reais consensus estimate compiled by Refinitiv. However, adjusted earnings per share came in at 0.85 reais, below the 0.92 reais forecast.
Eneva attributed the revenue beat to higher thermal power generation and increased energy sales in the spot market. The company operates a diversified energy portfolio, including natural gas-fired plants and renewable energy projects.
On costs, Eneva noted higher operational expenses, particularly in fuel and maintenance, which weighed on profitability. The company also highlighted regulatory and logistical challenges in its natural gas segment as contributing factors to the EPS miss.
Management reaffirmed its full-year 2026 guidance, citing stable demand and ongoing cost-control measures. The outlook assumes average thermal plant utilization rates and no significant disruptions in fuel supply.
Analysts at XP Investimentos maintained a neutral rating on Eneva, citing balanced risk-reward given the revenue beat but EPS miss. The stock was last trading 1.2% lower in pre-market trading on Wednesday.
