BRAZIL · EARNINGS
Key Facts
- The company Simpar, a Brazilian holding company, groups car renter Movida, trucking firm JSL and truck lessor Vamos.
- The result Simpar earned an adjusted US$25 million (R$137 million) in the third quarter, after a loss.
- The debt Net debt is 2.7 times operating earnings, the lowest since its 2010 listing.
- The date The company published the figures on Wednesday 4 November 2026.
- Power Index Brazil ranks 1st of 14 in The Rio Times Latin America Power Index, with 75.0 points (October 2026 edition).
Simpar, a Brazilian group that rents cars and trucks and runs logistics, swung to an adjusted profit of R$137.0 million (about US$25 million) in the third quarter of 2026. A year earlier it had lost R$128.6 million (about US$24 million) on the same measure.
For US readers, Simpar is a gauge of how Brazil’s heavily indebted fleet and freight businesses cope with high borrowing costs. All dollar figures here use the exchange rate of about 5.46 reais per US dollar on 5 November 2026.
What Happened
Simpar reported its third-quarter results on Wednesday 4 November 2026. Adjusted net income from continuing operations reached R$137.0 million (about US$25 million), against a loss of R$128.6 million a year before.
Under standard accounting, net income was R$129.4 million (about US$24 million), compared with a loss of R$238.5 million (about US$44 million) in the third quarter of 2025. Profit attributable to the controlling shareholders was R$35.2 million (about US$6.4 million), up from a loss of R$246.2 million (about US$45 million).
Gross revenue rose 4.6% to R$12.7 billion (about US$2.3 billion). Revenue from services grew 5.8% to R$9.5 billion (about US$1.7 billion).
Why Profit Grew Faster Than Sales
Operating earnings, known as EBITDA, climbed 19.9% to R$3.5 billion (about US$641 million), with a margin of 30.4%. EBITDA means earnings before interest, taxes, depreciation and amortisation, a rough measure of operating cash.
Sales grew about 5% while EBITDA grew about 20%. Simpar’s finance chief, Denys Ferrez, described this as the group moving from building scale to extracting value from what it already owns.
Interest costs still weigh heavily on the group. The net financial result was a loss of R$1.94 billion (about US$355 million), 6.3% smaller than a year earlier.
Debt at Its Lowest Since the Listing
Net debt divided by EBITDA fell to 2.7 times, down 0.8 from a year earlier and the lowest since its stock market listing in 2010. Net debt excluding BBC, its banking unit, stood at R$39.2 billion (about US$7.2 billion).
Consolidated cash stood at R$14.5 billion (about US$2.7 billion), including R$1.3 billion (about US$238 million) of unused credit lines. The holding company alone held R$3.9 billion (about US$714 million), which the company says covers its financial maturities until mid-2031.
Simpar raised R$4.6 billion (about US$843 million) in the quarter at an average cost of the CDI, Brazil’s overnight interbank rate, plus 2.2% a year, over an average term of 4.7 years. It also bought back R$472 million (about US$86 million) of holding-company debt, taking the 2026 total to R$723 million (about US$132 million), or 72% of a R$1 billion target.
The Three Engines Inside Simpar
Movida, the car renter, earned R$152.1 million (about US$28 million), up 117.4%, and posted record EBITDA of R$1.8 billion (about US$330 million). Our earlier report covered Movida’s own results.
Vamos, which leases trucks and machinery, earned R$150.9 million (about US$28 million), three times a year earlier, and reached record EBITDA of R$1.0 billion (about US$183 million). Its fleet occupancy was 89%.
JSL, the logistics arm, posted record net revenue of R$2.6 billion (about US$476 million) and adjusted net income of R$40.3 million (about US$7.4 million), up 12.5%. It signed record new contracts of R$2.8 billion (about US$513 million).
Deals and the Bank Unit
During the quarter, Simpar announced the sale of its CS Porto Aratu unit at an enterprise value of R$1.8 billion (about US$330 million). The closing still depends on approval from Cade, Brazil’s antitrust regulator, and from the authority that granted the concession, and it is not in these results.
The company says deals announced over the past 12 months produced a gain of R$1.4 billion (about US$256 million). Its banking unit BBC grew its loan book 53.8% to R$3.3 billion (about US$604 million), with 4.4% of loans in default.
What It Means for You
If you follow Brazilian stocks, Simpar’s quarter shows a group that is trading growth for lower debt and higher margins. Its shares trade on the B3, Brazil’s stock exchange, under the ticker SIMH3, and nothing here is a recommendation to buy or sell.
The results also say something about the wider economy. Fleet rental and freight firms depend on credit, so their lower leverage suggests that heavy borrowers can still adjust to expensive money.
Ferrez said the group does not need interest rates to fall to deliver its plan. He said it only has to balance its portfolio with economic conditions.
What Is Not Known
It is not known when the CS Porto Aratu sale will close, because the regulatory approvals are pending. The company has not said how much of the R$1 billion debt buyback target it will reach by year end.
It is also unclear whether the margin gains can last if interest rates stay high. It is also unclear how much of the lower debt comes from asset sales rather than operations.
More: Brazil news in English, every day from The Rio Times.
Frequently Asked Questions
What Is Simpar?
Simpar is a Brazilian holding company that groups Movida (car rental), JSL (trucking logistics) and Vamos (truck rental), among other units. Its shares trade on the B3, Brazil’s stock exchange, under the ticker SIMH3.
How Much Did Simpar Earn in the Third Quarter of 2026?
Simpar reported an adjusted net income of R$137.0 million (about US$25 million) from continuing operations. Its accounting net income was R$129.4 million (about US$24 million).
What Does Net Debt to EBITDA of 2.7 Mean?
EBITDA is earnings before interest, taxes, depreciation and amortisation, a rough measure of operating cash. A ratio of 2.7 means net debt equals about 2.7 years of those earnings, the lowest since the 2010 listing.
Is the Sale of CS Porto Aratu Complete?
No. The deal, valued at R$1.8 billion (about US$330 million), still needs approval from Cade, Brazil’s antitrust regulator, and from the granting authority.
Sources: Simpar S.A., investor relations, third-quarter 2026 results, 4 November 2026; exchange rate: RT market data, 5 November 2026.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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