UGP · Ultrapar Participações S.A.

Ultrapar Participações S.A. reported strong first-quarter results for 2026, with net income attributable to shareholders surging to R$875.6 million from R$332.8 million in the same period last year. Consolidated net revenue increased 10.3% to R$36.75 billion, driven by higher sales volumes and improved pricing across segments. Gross profit rose to R$3.17 billion from R$2.14 billion, reflecting better margins and cost management. Operating income before financial result and taxes more than doubled to R$1.81 billion, supported by lower other operating expenses and a significant improvement in the share of profit from subsidiaries, which turned positive at R$821 million compared to a loss of R$334 million in the prior year. The company's financial result was a net expense of R$398 million, up from R$180 million, primarily due to higher interest expenses. Income tax expense increased to R$498 million from R$248 million, in line with higher pre-tax income. Basic earnings per share rose to R$0.8192 from R$0.3043. The balance sheet remained solid with total assets of R$50.2 billion and equity of R$18.5 billion as of March 31, 2026. The filing did not include any forward-looking guidance or management commentary.