Copasa appoints Augusto Dantas Borges CEO. BTG Pactual lists BRL 81.00 target for Copasa stock

Published on 10/21/2026 at 00:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Copasa reports on November 9, 2026 after market close. Copasa stock has a BRL 81.00 target and adjusted EBITDA rose 11.70 percent in the second quarter.

Governance and results calendar

Augusto Dantas Borges became Copasa CEO on September 29, 2026.
Second-quarter service revenue reached BRL 1.95 billion, up 8.90 percent year over year.
Copasa will release third-quarter results on November 9, 2026 and hold its call on November 10, 2026.

Copasa, BRCSMGACNOR5, Illustration mit AI erstellt.

Copasa (BRCSMGACNOR5) appointed Augusto Dantas Borges as chief executive on September 29, 2026, while BTG Pactual lists a BRL 81.00 target for the stock. Copasa said the appointment followed the companys transition to private ownership, while BTG Pactual shows the target alongside a buy recommendation.

Second-quarter margins face pressure

For the second quarter of 2026, Copasa reported BRL 1.95 billion in revenue excluding construction, an 8.90 percent year-over-year increase. Adjusted EBITDA rose 11.70 percent to BRL 762.00 million, but adjusted net income fell 4.80 percent to BRL 275.00 million, according to BTG Pactual. The combination puts cost control and financing expenses ahead of revenue growth in the next results discussion.

The operating update for the third quarter of 2026 showed water volume of 174.53 million cubic meters, up 1.10 percent from a year earlier, while sewage volume reached 123.84 million cubic meters, up 3.60 percent, TraderNews reported. Those operating figures do not yet provide the third-quarter profit or debt picture.

Three dated company events

On September 29, 2026, Copasa announced Augusto Dantas Borges as CEO with a mandate through September 2028, according to Copasa. On October 9, 2026, the operating update showed 174.53 million cubic meters of water volume, according to TraderNews.

On October 19, 2026, Copasa published a schedule setting the third-quarter earnings release for November 9, 2026, after market close, according to MarketScreener.

November reporting milestones

The next two dated milestones are November 9, 2026, for the third-quarter earnings release, and November 10, 2026, for the results conference call. The sequence should clarify whether higher service volumes translated into profit after financing costs.

Execution follows the leadership reset

Copasa enters the next reporting cycle with a new CEO, rising operating volumes and a wider gap between adjusted EBITDA growth and adjusted net income. The key investor question is whether private ownership can turn operational expansion into stronger cash earnings.