Movida profit jumps 117% to 152 million Brazilian reais in third quarter
Key Facts
Movida posted net profit of 152 million Brazilian reais in the third quarter of 2026, up 117% year over year, CNN Brasil reported, citing Estadão Conteúdo. The company released its results after the market closed on October 27, according to Reuters via UOL. The results highlight improved profitability despite revenue growing at a much slower pace than profit. Net revenue was 3.870 billion reais, up 2.8% year over year. Profit also exceeded second-quarter net income of 136 million reais and the company’s third-quarter guidance range of 130 to 150 million reais.
Rental operations were the main driver of the operational improvement, with EBITDA margin rising to 74.2% in the third quarter from 72.6% in the same period of 2025, CNN Brasil reported, citing Estadão Conteúdo. Daily rental volume increased from 6.085 million to 7.439 million days over the comparative period. The average short-term rental rate also rose from 159 reais to 167 reais. The performance combined higher activity with improved pricing, alongside a wider margin. The chief executive said revenue growth was linked to service pricing, market-share gains and cost discipline.
By contrast, the used-car business recorded declines in volume and revenue. Movida sold 20,051 used cars in the third quarter of 2026, down 18.1% from the same period last year, CNN Brasil reported, citing Estadão Conteúdo. Net revenue from the business was 1.471 billion reais, down 16.2% year over year. This means the company’s overall net revenue growth came alongside a contraction in this business, while rental indicators showed increases in usage days and rates. The chief executive said the company is expanding its used-car reconditioning centers, along with its in-house workshops and maintenance points serving the rental business.
The company said bringing more fleet maintenance work in-house, including expanding its network of maintenance points and vehicle reconditioning centers, helped reduce costs, increase productivity and improve service quality. Management linked these initiatives to cost discipline, as well as pricing and market-share expansion. The focus on maintenance is part of operational efforts tied to the rental business, which recorded increases in margin, rental days and average rates during the quarter. Reuters via UOL quoted the company as saying the initiatives "helped reduce costs, increase productivity and improve service quality."
Net debt rose to 17.5 billion Brazilian reais in the third quarter, compared with 15.5 billion reais in the same period of 2025, CNN Brasil reported, citing Estadão Conteúdo. But the ratio of debt to EBITDA improved to 2.56 times from 2.74 times a year earlier. This places the increase in nominal debt alongside a decline in leverage on the measure reported by the company. In its second-quarter guidance, Movida said cumulative net profit through the first nine months of 2026 could exceed full-year 2025 net profit by 26%, even with interest rates rising in Brazil.
Movida set a third-quarter net profit range of 130 to 150 million reais in the second quarter, while the reported figure came in at 152 million reais, according to the document filed with Brazil’s securities regulator. The company also said at the time that cumulative profit through the end of September could exceed full-year 2025 profit by 26%. After announcing results following the market close on October 27, its investor relations website scheduled the results call and webcast in Portuguese for October 28, 2026, at 09:00 São Paulo time. The call gives the company an opportunity to present its third-quarter results the day after the announcement.