Q1 2026 Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP Earnings Call (English, Portuguese) Transcript

May 8, 2026 / 01:00 PM GMT

Release Date Price: ARS19000 (-3.36%)

Transcript

Key Points

Positve

Adjusted net revenue for the first quarter of 2026 was $6 billion, an increase of 11% year-on-year.
Adjusted EBITDA was $3.8 billion, up 26% versus a year ago, reaching a 62.9% margin.
Adjusted net income grew 32% year-over-year, supported by improved operating results and lower spreads in the debt stack.
CapEx reached 3.7 billion, up 31% year on year, indicating strong investment in infrastructure.
The company maintains a strong liquidity position with $19.2 billion in cash, sufficient to cover over five years of debt service.

Negative

Total water production decreased by 4.6% compared to the previous year due to milder weather and operational adjustments.
The expansion of subsidized tariff programs reduced revenue by 3.4%, affecting short-term revenue mix.
Electricity and material expenses were higher than expected, impacting operational costs.
The implementation of new regulatory accounting principles presents a complex challenge for the company.
The immunization curve was slower compared to the previous quarter, indicating potential delays in project execution.

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

SBSP3.SA - Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP
Q1 2026 Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP Earnings Call (English, Portuguese)
May 08, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to Sabest's first quarter of 2026 earnings presentation. With us here today are Carlos Pioni, CEO, Danielle Zlatz, CFO, and Thiago Levy, Investor Relations.

Before we begin, we clarify that the statements made during this presentation will not include projections or estimates of future events. However, they may contain forward-looking statements indicating potential trends related to SABESC based on reasonable expectations, beliefs, and assumptions of SABESC's management as of today.

These statements involve risks and uncertainties and are based on assumptions and factors such as market

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