Actions direction It is operating lower on Monday (17), after the company delivered mixed results in its third-quarter balance sheet, with revenues continuing to be affected by lower shipping rates in the period. The company recorded net profits of R$416 million, a decrease of 39.2% compared to the same period of the previous year, despite an 8.2% increase in the volume of goods transported.
Around 1pm, Rumo (RAIL3) shares were down 5.99%, at R$15.53, while Ibovespa was down 0.06%, at 157,664 points.
According to XP, freight rates were lower than expected, mainly due to the strategy of encouraging increased volumes, especially in the Nordic network. However, the company demonstrated greater profitability, with lower fixed costs and improved energy efficiency. The broker maintains its buy recommendation, with a target price of R$27, but expects price weakness as a risk for Ebitida for 2025, especially as the fourth quarter tends to be seasonally weaker.
Citi notes that the performance of the Southern Grid partly offset the weaker results, although highlighting that a strategy of stimulating volumes through tariff reductions could generate greater tariff pressure. In this sense, the bank notes that the October volumes indicate that the strategy should continue in the fourth quarter, thus, maintaining a Neutral recommendation for the stock, with a target price of R$ 15.50.
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