Eneva

Eneva reported a record EBITDA of R$6.507 billion for 2025 and operating cash flow of R$5.67 billion, driven by acquisitions, the Sergipe hub and its off‑grid business. Despite strong operating metrics, earnings per share of $0.1572 fell nearly 32% short of the $0.231 expectation, prompting management to issue conservative EPS guidance of $0.01–0.03. Net debt stands at R$17 billion (net debt/EBITDA 2.6x), and Eneva is investing heavily in project growth (including Azulão I/II, Linhares and an LNG expansion) with commissioning planned through 2027. Analysts see long‑term potential despite near‑term profitability pressures; main risks are interest costs, currency effects, project execution and energy price volatility. » Mere på de.investing.com

Eneva reported a record EBITDA of USD 1.823 billion in Q3 2025 (+61% y/y) and an operating cash flow of USD 1.965 billion (+54%). The leverage ratio (net debt/EBITDA) improved to 2.7x (previous year 3.6x). The company is advancing LNG and liquefaction projects, plans to commission Azulão 1/2 in 2026/2027, and is preparing for the reserve-capacity auction in March 2026. Management and analysts see risks from supply-chain issues with potential cost increases and from regulatory competition; the stock fell slightly by 0.52% to USD 19.29. » Mere på de.investing.com