Reported Earnings • May 19
First quarter 2026 earnings released: EPS: R$0.23 (vs R$0.84 in 1Q 2025) First quarter 2026 results: EPS: R$0.23 (down from R$0.84 in 1Q 2025). Revenue: R$1.68b (flat on 1Q 2025). Net income: R$78.0m (down 72% from 1Q 2025). Profit margin: 4.7% (down from 17% in 1Q 2025). Declared Dividend • Apr 26
Dividend increased to R$1.05 Dividend of R$1.05 is 9.9% higher than last year. Ex-date: 4th May 2026 Payment date: 1st January 1970 Dividend yield will be 2.4%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (24% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has increased by an average of 16% per year over the past 2 years and payments have been stable during that time. Earnings per share has grown by 29% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 26
MRS Logística S.A. announces Annual dividend MRS Logística S.A. announced Annual dividend of BRL 1.0461 per share, ex-date on May 04, 2026 and record date on April 30, 2026. Announcement • Apr 02
MRS Logística S.A., Annual General Meeting, Apr 30, 2026 MRS Logística S.A., Annual General Meeting, Apr 30, 2026. Reported Earnings • Mar 19
Full year 2025 earnings released: EPS: R$4.60 (vs R$4.19 in FY 2024) Full year 2025 results: EPS: R$4.60 (up from R$4.19 in FY 2024). Revenue: R$7.59b (up 8.0% from FY 2024). Net income: R$1.56b (up 9.9% from FY 2024). Profit margin: 21% (in line with FY 2024). Board Change • Mar 12
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. No independent directors (10 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to R$42.80, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 15x in the Transportation industry in Brazil. Total returns to shareholders of 36% over the past year. Board Change • Jan 23
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. No independent directors (10 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to R$30.90, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 14x in the Transportation industry in Brazil. Total returns to shareholders of 30% over the past three years. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to R$36.40, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 14x in the Transportation industry in Brazil. Total returns to shareholders of 53% over the past three years. Reported Earnings • Nov 18
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: R$2.03b (up 5.9% from 3Q 2024). Net income: R$460.7m (flat on 3Q 2024). Profit margin: 23% (down from 24% in 3Q 2024). The decrease in margin was driven by higher expenses. Board Change • Sep 15
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. No independent directors (10 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Aug 18
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. No independent directors (10 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jul 11
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. No independent directors (10 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jun 05
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. No independent directors (10 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • May 15
First quarter 2025 earnings released First quarter 2025 results: Revenue: R$1.68b (up 2.0% from 1Q 2024). Net income: R$282.7m (down 11% from 1Q 2024). Profit margin: 17% (down from 19% in 1Q 2024). The decrease in margin was driven by higher expenses. Board Change • May 14
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. No independent directors (10 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Declared Dividend • Apr 27
Dividend increased to R$0.95 Dividend of R$0.95 is 18% higher than last year. Ex-date: 2nd May 2025 Payment date: 1st January 1970 Dividend yield will be 3.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (24% earnings payout ratio) but not covered by cash flows (207% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share has grown by 23% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 26
MRS Logística S.A. announces Annual dividend MRS Logística S.A. announced Annual dividend of BRL 0.9522 per share, ex-date on May 02, 2025 and record date on April 30, 2025. Board Change • Apr 02
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. No independent directors (10 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 01
MRS Logística S.A., Annual General Meeting, Apr 30, 2025 MRS Logística S.A., Annual General Meeting, Apr 30, 2025. New Risk • Mar 15
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 207% Dividend yield: 3.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Shares are highly illiquid. Minor Risk Dividend is not well covered by cash flows (207% cash payout ratio). Reported Earnings • Mar 12
Full year 2024 earnings released Full year 2024 results: Revenue: R$7.02b (up 8.9% from FY 2023). Net income: R$1.42b (up 18% from FY 2023). Profit margin: 20% (up from 19% in FY 2023). The increase in margin was driven by higher revenue. Board Change • Jan 22
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. No independent directors (10 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Dec 13
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. No independent directors (10 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 19
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: R$1.92b (up 7.5% from 3Q 2023). Net income: R$459.1m (up 8.2% from 3Q 2023). Profit margin: 24% (in line with 3Q 2023). Buy Or Sell Opportunity • Nov 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to R$28.00. The fair value is estimated to be R$35.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 24%. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: R$2.11 (vs R$0.99 in 2Q 2023) Second quarter 2024 results: EPS: R$2.11 (up from R$0.99 in 2Q 2023). Revenue: R$7.38b (up 353% from 2Q 2023). Net income: R$712.5m (up 113% from 2Q 2023). Profit margin: 9.7% (down from 21% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to R$32.99, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 12x in the Transportation industry in Brazil. Total loss to shareholders of 4.6% over the past three years. Reported Earnings • May 19
First quarter 2024 earnings released First quarter 2024 results: Revenue: R$1.64b (up 32% from 1Q 2023). Net income: R$315.9m (up 117% from 1Q 2023). Profit margin: 19% (up from 12% in 1Q 2023). The increase in margin was driven by higher revenue. Reported Earnings • Mar 25
Full year 2023 earnings released Full year 2023 results: Revenue: R$6.45b (up 15% from FY 2022). Net income: R$1.20b (up 37% from FY 2022). Profit margin: 19% (up from 16% in FY 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to R$28.95, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 14x in the Transportation industry in Brazil. Total loss to shareholders of 43% over the past three years. Board Change • Feb 26
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Feb 02
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.