Light Posts a US$49 Million Loss Even as Its Earnings Jump 82%
Rio de Janeiro utility Light reported a US$49 million quarterly loss, but operating earnings jumped 82% as one-off tax charges masked a real turnaround. The post Light Posts a US$49 Million Loss Even as Its Earnings Jump 82% appeared first on The Rio Times .
Light, the electricity distributor in Rio de Janeiro, posted a R$252.2 million (US$49 million) net loss in Q2 2026, but its adjusted EBITDA surged 82.3% year-over-year to R$599 million (approximately US$116 million) due to improved operating performance. The company's operating earnings jumped more than 80% on an adjusted basis, despite the reported net loss.
Most of the red ink is due to non-recurring one-off tax charges and accounting adjustments, such as the settlement of old liabilities under a Brazilian tax-installment program and the renewal of its distribution concession. Excluding these one-off and mark-to-market effects, the company would have turned a small operating profit.
Light filed for court-supervised recovery in 2023 and completed a R$1.5 billion capital raise in July 2026. The pending court decision on its exit from judicial recovery could impact the company's shares, but investors are focused on the operating turnaround, particularly the 82% EBITDA jump.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
