Equatorial ends Copasa pact with BRL 50 million payment and tests Equatorial Energia stock

Published on 10/02/2026 at 17:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Equatorial Energia stock reflects Q2 net profit down 44.40 percent. Copasa stake stays at 30.00 percent after governance changes.

Equatorial Energia, BREQTLACNOR0, Illustration mit AI erstellt.

Equatorial ended its Copasa shareholder pact with a BRL 50.00 million contractual payment, a governance shift that gives Equatorial Energia stock a fresh test. Cordis Noticias reported on September 30, 2026, that the termination was formalized on September 29, 2026, while Equatorial retained its 30.00 percent stake in Copasa.

Copasa keeps strategic weight

The agreement had linked Equatorial subsidiary Gerais Saneamento with the State of Minas Gerais and Copasa after the sanitation company was privatized. Ending the pact reduces the states prior role in selected investment and dividend decisions, while the golden share still grants specific governance rights.

The contractual payment of BRL 50.00 million was held in escrow and becomes payable under the termination terms. Cordis Noticias said the arrangement leaves Equatorial as Copasa's largest individual shareholder, with 30.00 percent of the capital.

Growth meets earnings pressure

Equatorial's latest reported quarter ended June 30, 2026. Revenue reached USD 2,705.50 million, up 17.90 percent year over year, while net profit fell 44.40 percent to USD 128.60 million, according to Frontier.

The contrast matters for the stock narrative. Revenue growth accelerated, but operating profit declined 6.90 percent to USD 495.10 million in the second quarter, while EBITDA decreased 1.50 percent to USD 681.10 million. Quartr also reported adjusted EBITDA of BRL 2.92 billion for the second quarter, up 0.80 percent, while higher costs and debt weighed on net income.

Valuation and legal risk

Market capitalization stood at BRL 51.8 billion on October 2, 2026, with the B3 share price data showing a 52-week range of BRL 33.61 to BRL 46.32. The current financial picture therefore combines double-digit revenue expansion with lower quarterly profit and leverage sensitivity.

A separate legal issue adds a counterweight. G1 reported on October 1, 2026, that CEEE Equatorial was ordered to pay compensation after power outages linked to a 2023 cyclone.

Equatorial Energia stock and B3 data

Equatorial Energia is listed on B3 under ticker EQTL3. The company operates in electricity generation, distribution and commercialization, with sanitation activities adding exposure beyond regulated power networks.