Ultrapar Delivers 46% Net Income Growth, Record Cash Generation, and R$1.00 Dividend
UGP sits 92% above its 52-week low of $3.06.
Summary
Ultrapar reported 2Q26 net income of R$1,677 million, up 46% YoY, with record operating cash generation of R$4,789 million and leverage at an 18-year low. The board approved a R$1.00 per share interim dividend.
Key Events · Earnings and Guidance · UGP
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Net Income Up 46% YoY
2Q26 net income reached R$1,677 million, up from R$1,151 million in 2Q25, driven by strong operating results across all businesses.
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Record Operating Cash Generation
Operating cash flow hit a record R$4,789 million in 2Q26, reflecting solid performance and working capital release at Ipiranga.
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Leverage at 18-Year Low
Net debt to adjusted LTM EBITDA fell to 0.9x, the lowest since 2008, from 1.5x in 1Q26.
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Interim Dividend Approved
Board approved R$1.00 per share interim dividend, payable from September 3, 2026, with record date August 24, 2026 in Brazil.
Analysis · UGP · Energy & Transportation
A sharp acceleration in profitability marks Ultrapar's 2Q26 results, with net income climbing 46% year-over-year to R$1,677 million and recurring adjusted EBITDA soaring 149% to R$3,657 million. Record operating cash flow of R$4,789 million drove leverage down to 0.9x — the lowest since 2008. The board also approved an interim dividend of R$1.00 per share, payable from September 3, 2026. Ipiranga led the strong performance, with its recurring adjusted EBITDA more than quadrupling on a fairer competitive environment and higher fuel margins. This material positive update confirms the company's operational momentum and balance sheet strength.
At the time of this filing, UGP was trading at $5.87 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $6.4B. The 52-week trading range was $3.06 to $6.59. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.