Comp En De Mn Cemig ADS (NYSE:CIG) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• CEMIG reported quarterly EPS of $0.07, beating the $0.05 consensus estimate by $0.02. Recurring EBITDA rose 31% year over year to about BRL 2 billion.
• Net income was BRL 1.7 billion, including a BRL 1.1 billion tax-provision reversal following a favorable court ruling; quarterly EBITDA totaled BRL 2.7 billion.
• The utility plans nearly BRL 7 billion in 2026 investments, with about 75% already invested. It also reported BRL 5.4 billion in quarter-end cash and 2.43x leverage.

Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report) released its quarterly earnings results on Friday. The utilities provider reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02, Zacks reports. Comp En De Mn Cemig ADS had a net margin of 10.44% and a return on equity of 16.89%.

Here are the key takeaways from Comp En De Mn Cemig ADS's conference call:

• Recurring EBITDA rose 31% year over year to about BRL 2 billion. Reported quarterly EBITDA was BRL 2.7 billion and net income BRL 1.7 billion, with net income benefiting from a BRL 1.1 billion reversal of tax provisions after a favorable court ruling.
• CEMIG reported a triple-A rating, 2.43x leverage and BRL 5.4 billion in cash at quarter-end; management said its debt maturity profile and funding access support its investment plans.
• The company plans close to BRL 7 billion of investment in 2026, with roughly 75% already invested, including BRL 4.1 billion in distribution. Management linked investment and operating improvements to better service metrics, with distribution spending also aimed at the 2028 tariff review.
• Results across businesses were mixed: trading swung to BRL 18 million positive EBITDA from a BRL 37 million loss, while lower inflation weighed on generation and transmission results and customer migration to the free market pressured Gasmig margins.
• CEMIG renewed the Sá Carvalho concession for another 30 years and said it is optimistic about renewals for Nova Ponte and Emborcação, though those decisions remain pending.

Comp En De Mn Cemig ADS Stock Performance

Shares of CIG stock traded up $0.07 during trading hours on Friday, reaching $1.92. 2,282,893 shares of the company's stock were exchanged, compared to its average volume of 5,822,149. The stock has a market capitalization of $5.48 billion, a P/E ratio of 10.08 and a beta of 0.86. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.58. Comp En De Mn Cemig ADS has a fifty-two week low of $1.77 and a fifty-two week high of $2.76. The business has a fifty day moving average price of $2.12 and a 200-day moving average price of $2.20.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CIG. Zacks Research assumed coverage on shares of Comp En De Mn Cemig ADS in a research note on Monday, November 2nd. They set a "hold" rating on the stock. Wall Street Zen upgraded shares of Comp En De Mn Cemig ADS to a "hold" rating in a research report on Saturday, October 17th. Finally, Weiss Ratings cut Comp En De Mn Cemig ADS from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, October 26th. Two research analysts have rated the stock with a Hold rating. According to MarketBeat, the stock currently has an average rating of "Hold".

About Comp En De Mn Cemig ADS

Companhia Energética de Minas Gerais S.A. (CEMIG) is a Brazilian electric utility headquartered in Belo Horizonte, in the state of Minas Gerais. Founded in 1952, the company is controlled by the state government of Minas Gerais. CEMIG generates, transmits and distributes electricity, with a power portfolio that includes hydroelectric and renewable energy facilities. It also participates in electricity trading and provides natural gas distribution services in Minas Gerais through its business interests in Gasmig.

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