Brazil Q4 Earnings Split: Hypera and Magalu Post Profits as Casas Bahia, CSN, Energisa and Randoncorp Report Setbacks

Overview

• Casas Bahia said it must turn 2025 operational gains into net profit in 2026 after a near R$3 billion annual loss that included a R$1.45 billion tax provision.
• Magazine Luiza reported an adjusted net profit of R$124.7 million in Q4 2025, with stronger in-store sales offsetting weaker e-commerce and year-end cash of R$8 billion.
• Hypera Pharma’s Q4 net income jumped to R$449.8 million, more than five times a year earlier, on a 48% revenue increase and sharply higher Ebitda.
• Energisa’s consolidated profit fell 54% year over year to R$975.2 million in Q4 2025, with net debt at R$32.8 billion and leverage at 3.6 times Ebitda.
• CSN posted a R$721.2 million net loss in Q4 2025 and revised 2026 assumptions at CSN Mineração, while Randoncorp swung to a R$231.3 million loss and guided 2026 revenue to R$12.5–14.0 billion.