CPFL Energia SA (BSP:CPFE3)

Q2 2026 CPFL Energia SA Earnings Call (English, Portuguese) Transcript

Aug 14, 2026 / 02:00 PM GMT

Release Date Price: R$41.29 (-4.49%)

Transcript

Key Points

Positve

EBITDA grew 17.4% year-over-year to R$3,556 million in Q2 2026, driven by strong distribution performance.
Energy consumption in the concession area grew 4%, led by a 10.7% increase in commercial demand and a 35% surge in data center consumption.
Tariff readjustment of 8.8% positively impacted distribution results, contributing R$290 million to EBITDA.
CPFL expressed interest in adhering to the MMM's commitment agreement for curtailment compensation, which is expected to bring clarity and reduce future surprises.
The company maintains a robust investment pace, with R$1.5 billion in CapEx in Q2 and a full-year target of R$6.4 billion, focused on distribution and transmission expansion.

Negative

Delinquency rose to 1.8%, up 0.82 percentage points year-over-year, reflecting a challenging macroeconomic environment and high household indebtedness.
Wind generation performance was weak due to lower wind volumes and curtailment, negatively impacting generation EBITDA by R$135 million.
Curtailment levels remained high at approximately 25%, with no improvement compared to the previous year, pressuring renewable energy results.
Manufacturing energy consumption was flat at 0.9% growth, indicating difficulty in industrial uptake in the concession area.
The company faces ongoing challenges with power cuts and loss control, with expectations that delinquency will remain a significant issue through 2026 and 2027.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CPFE3.SA - CPFL Energia S.A.
Q2 2026 CPFL Energia SA Earnings Call (English, Portuguese)
Aug 14, 2026 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, everyone.

Thank you for being here for one more presentation of results of CPFL Energy. Today it's the second quarter of 2026. I'm Thiago Ahira, Director of Corporate Finance of the CPFL Group, and I will be the Master of Ceremonies today. Together with Gustavo Istela, our CEO, and the other executives of the company.

Two important points. If you wish, you can choose the audio channel in English or English, clicking on the interpretation button and we will have Q&A at the end. To participate, click on raise hand on the bottom part of the platform. We are recording this event. I'm now going to give the floor to Gustavo.

Thank you, Thiago. Good morning to everyone.

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