Brazil’s Ultrapar Misses Q4 EBITDA, Leverage Climbs

2026-03-05 - 10:23

3 Key Points —Adjusted EBITDA of R$1.56 bilhões ($299M) in Q4 2025 missed the LSEG consensus of R$1.6 bilhões by 2.5%, while adjusted net income surged 49% year-over-year to R$439 milhões ($84M) as the year-ago base was stripped of extraordinary tax credits. —Ipiranga volumes rose 7% year-over-year and revenue advanced 6% to R$34.13 bilhões ($6.55B),