Brazil Car Renter Localiza Profit Up 29%
Localiza, a Brazilian car rental and fleet leasing group, earned US$204 million in the third quarter, up 29.1% on adjusted profit a year earlier. The post Brazil Car Renter Localiza Profit Up 29% appeared first on The Rio Times .
Brazilian car rental company Localiza&Co reported a 29.1% increase in profit for the third quarter of 2026, reaching R$1,125 million (approximately US$204 million). Adjusted profit, which excludes a one-off loss from a federal tax reduction, was up 336% year-over-year. Net revenue increased 14.4% to R$12,278 million (around US$2.2 billion), while EBITDA grew 13.7% to R$4,029 million (about US$732 million).
The company attributes its profit growth to rising car rental revenue and higher average daily rates, despite high interest rates affecting borrowing costs.
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