--- title: "Itaúsa reports recurring net income of R$ 4,5 billion in 1Q26, a 17% increase" type: "News" locale: "en" url: "https://longbridge.com/en/news/286119447.md" description: "Itaúsa reported a recurring net income of R$ 4.5 billion for Q1 2026, marking a 17% year-over-year increase. The company's recurring ROE rose to 20.1%. Strong performance from Itaú Unibanco and non-financial investees contributed to this growth. Shareholder returns totaled R$ 1.3 billion, up 39% year-over-year. The company maintained a solid financial structure with high liquidity and a favorable debt profile. Itaúsa's dividend yield stands at 8.8%, with a total return to shareholders of 67.6% over the past year, reflecting its commitment to sustainable value creation." datetime: "2026-05-12T14:30:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286119447.md) - [en](https://longbridge.com/en/news/286119447.md) - [zh-HK](https://longbridge.com/zh-HK/news/286119447.md) --- # Itaúsa reports recurring net income of R$ 4,5 billion in 1Q26, a 17% increase SÃO PAULO, May 12, 2026 /PRNewswire/ -- **Itaúsa (B3: ITSA4),** the largest publicly-held investment holding company in Brazil, recorded **recurring net income of R$ 4,5 billion** in the first quarter of 2026, up 17% on a year-over-year basis, and **recurring ROE of 20,1%**, **a 2,7 p.p. increase**, evidencing the strong performance of investees and the discipline in capital allocation strategy, even amid a scenario of greater uncertainty in global markets. In the period, the company kept on a consistent value creation journey, notably driven by **Itaú Unibanco**'s performance and the growth of its non-financial investees. Return to shareholders totaled **R$1,3 billion**, up **39%** on a year-over-year basis, reaffirming Itaúsa's commitment to dividend distribution and long-term value creation. According to Itaúsa's CEO and Investor Relations Officer **Alfredo Setubal**, earnings for the quarter have corroborated the company's strength. "Even amid a scenario of higher volatility and economic cycle transition, we keep on delivering consistent results. The double-digit recurring profit growth and a 20% ROE reflect the quality of our portfolio, financial discipline, and the strategic monitoring of investees focused on creating sustainable value". **Investees' Performance** Recurring result of investees, as recorded in Itaúsa's results for the first quarter of 2026, totaled **R$ 4,8 billion**, up **16% on a year-over-year basis**, mainly driven by the **improved performance of Itaú Unibanco (+11%)** and the growth of **non-financial** investees, which increased **76%** in the period. **Itaú Unibanco** posted robust results, with growth in the loan portfolio in Brazil and Latin America, maintenance of healthy NPL ratios, and increase in **Insurance and Pension Plans**. The bank also recorded **higher operational efficiency**, with an efficiency ratio of **37,1% in consolidated figures and 34,9% in Brazil**, in addition to robust capital, with a **Tier 1 Capital Ratio of 13,4%**, above the regulatory minimum required. The significant progress posted by non-financial investees is the result of the quality and resilience of the holding company's investment portfolio. **Dexco**'s performance was driven by the Wood and Metals and Sanitary Ware divisions, partially offsetting by the challenges still faced in the Ceramic Tiles division and the decline in LD Celulose's results, as well as the company's continuing progress in its deleveraging process. **Alpargatas** posted higher revenue, EBITDA, and profit, driven by higher volume, a better product mix, and the strong performance from international operations. **Motiva**'s results were driven by tariff adjustments, increased traffic across all transportation modes, and the addition of new assets to the portfolio. **Copa Energia**, in turn, recorded higher EBITDA and profit, driven by higher volume of sales, better margins and lower net debt. **Aegea**, despite operational result growth, reported lower results due to higher financial expenses. The result reflected in Itaúsa was positive arising from the effect of the capitalization in the quarter. Finally, Itaúsa's result was also positively impacted by the change in the fair value of **NTS**. **Financial Structure and Capital** In the quarter, Itaúsa kept on a **strong financial structure**, with a comfortable cash position and appropriate debt profile. As part of its capital allocation strategy, the company completed a **capitalization of R$ 418,1 million** in March, thus increasing its equity interest in **Aegea**'s total capital **to 13,27%**. The holding company closed the period with **high liquidity levels** and a debt profile characterized by longer terms and lower average cost, as a result of the financial management initiatives implemented in recent years. **Return to Shareholders and Value Creation** In the last 12 months ended March 2026, Itaúsa kept on a consistent shareholder return policy, with **dividend yield of 8,8%**, one of the highest on the B3 stock exchange. In this period, **total return to shareholders (TSR)** reached **67,6%**, outperforming main market indicators. The company remains focused on financial discipline, strong governance, and strategic monitoring of its investees, with a focus on sustainable value creation. **_About Itaúsa_** _Itaúsa (B3: ITSA4) is the largest Brazilian publicly-held investment holding company, with 50 years' worth of history. It holds equity interests in leading companies in the financial (Itaú Unibanco), construction materials (Dexco), consumer goods (Alpargatas), infrastructure (Motiva and NTS) and energy (Copa Energia) segments. With nearly one million shareholders, Itaúsa invests in companies and sectors that transform Brazil, generating a positive impact for society, investees, and shareholders._ SOURCE Itaúsa ### Related Stocks - [ITUB.US](https://longbridge.com/en/quote/ITUB.US.md) ## Related News & Research - [Itaú Unibanco Posts Solid 1Q26 Results as Credit Portfolio Grows and ROE Nears 25%](https://longbridge.com/en/news/285972950.md) - [Itaú Unibanco Posts Strong 1Q26 Results and Expands Digital, Payments Platforms](https://longbridge.com/en/news/285973305.md) - [Luz Saúde starts INTERCEPT Crohn’s prevention study recruitment at Hospital da Luz Lisboa](https://longbridge.com/en/news/287181878.md) - [AM Best Affirms Credit Ratings of Coface SA’s Main Operating Subsidiaries](https://longbridge.com/en/news/287107499.md) - [Home Depot says its customers are healthy, but here's where they are holding back](https://longbridge.com/en/news/286948933.md)