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Ultrapar Participacoes SA (UGP)
NYSE:UGP
Earnings Data
Report Date
May 06, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.09Last Year’s EPS
0.05Same Quarter Last Year
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights strong operational performance and record cash generation in 2025, with recurring EBITDA growth, significant contributions from Hidrovias and a healthy dividend policy and leverage profile. Key strategic moves (acquisitions, SAP migration, investment plan) and robust Ipiranga cash generation underpin a constructive outlook. Near-term challenges include Q4 nonrecurring impacts that depressed reported adjusted EBITDA and net income, volume and ramp-up pressures at Ultracargo, modest LPG volume declines at Ultragaz, and potential short-term volatility from import windows and navigability issues for Hidrovias. On balance, the positive operational and cash-flow achievements outweigh the transitory and segment-specific headwinds.Company Guidance
Record Operating Cash Generation
Operating cash generation reached a record BRL 5.5 billion in 2025, driven by higher operating result, consolidation of Hidrovias (contribution of BRL 855 million) and lower working capital needs (partially offset by BRL 1.0 billion settlement of draft discount).
Strong Recurring EBITDA Growth
Recurring EBITDA totaled BRL 1.7 billion in Q4 (+36% vs Q4 2024) and BRL 6.2 billion for 2025 (+15% vs 2024), reflecting improved performance at Ipiranga, Ultragaz and the consolidation of Hidrovias.
Solid Full-Year Adjusted EBITDA and Net Income
Adjusted EBITDA for the year was BRL 6.8 billion (+2% vs 2024). Net income for 2025 was stable at BRL 2.5 billion, supporting capital return to shareholders.
Dividend Distribution and Yield
Distributed BRL 1.4 billion in dividends in 2025 (including BRL 1.1 billion anticipated payment in December), equivalent to BRL 1.30 per share and a dividend yield of 7%.
Maintained Comfortable Leverage
Leverage ended 2025 at 1.7x net debt/EBITDA (1.5x excluding anticipated dividend payment), supported by record cash generation despite anticipated dividend outflow.
Ipiranga Volume and Cash Flow Recovery
Ipiranga Q4 volumes grew 7% vs Q4 2024 (Otto +8%, diesel +6%) and full-year volumes +1%; operating cash generation reached BRL 4.3 billion for the year (+41% YoY). Recurring adjusted EBITDA in Q4 was BRL 1.1 billion (+26% YoY).
Hidrovias Contribution and Operational Improvements
Hidrovias handled volumes +65% in Q4 and +22% for the year; recurring EBITDA for 2025 was BRL 1.1 billion (+95% vs 2024), reversing prior-year losses and contributing materially to consolidated results (and cash contribution of BRL 855 million).
Strategic Progress and Investments
Completed Rondonópolis expansion and acquired 37.5% of Virtu GNL; migrated Ultracargo to SAP S/4HANA; announced 2026 investment plan up to BRL 2.6 billion; raised ~BRL 260 million in incentivized credit at weighted average cost ~87% CDI.
UGP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
UGP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 04, 2026 | $4.93 | $4.92 | -0.20% |
Nov 12, 2025 | $4.09 | $3.92 | -4.20% |
Aug 13, 2025 | $2.99 | $3.09 | +3.48% |
May 07, 2025 | $2.82 | $2.72 | -3.37% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Ultrapar Participacoes SA (UGP) report earnings?
Ultrapar Participacoes SA (UGP) is schdueled to report earning on May 06, 2026, After Close (Confirmed).
What is Ultrapar Participacoes SA (UGP) earnings time?
Ultrapar Participacoes SA (UGP) earnings time is at May 06, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is UGP EPS forecast?
UGP EPS forecast for the fiscal quarter 2026 (Q1) is 0.09.