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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  CPFL Energia S.A.    CPFE3   BRCPFEACNOR0

CPFL ENERGIA S.A.

(CPFE3)
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CPFL Energia S A : 3Q Net Income Jumped to BRL1.4 Billion on Tax Credits

11/13/2020 | 07:03am EST

By Jeffrey T. Lewis

Brazilian power company CPFL Energia SA said profit rose in the third quarter after a steep drop in tax payments and an improvement in the company's distribution and renewable generation operations.

The holding company, which owns stakes in generation, distribution and commercialization businesses, said Thursday evening that net income rose 80.8% from the third quarter of 2019 to 1.4 billion reais, the equivalent of $257 million. Earnings before interest, taxes, depreciation and amortization rose 20.8% to 2 billion reais and net operating revenue rose 0.4% to 7.8 billion reais.

The company said it has started to see clear signs of an economic recovery following the gradual easing of social distancing measures intended to slow the spread of the coronavirus, with power use by residential clients up because of the increase in people working from home. Businesses and industry also are showing signs of recovery, though power use by those segments remains below last year's levels for the quarter, CPFL said.

Consumption in homes, representing 31.5% of the company's sales, rose 8.8% in the quarter from a year earlier. Sales to industry, 37% of sales, fell 3% from a year earlier, and use by commercial clients, with 14.4% of sales, fell 8% in the period, the company said.

CPFL benefited from tax credits generated mainly by its renewables unit, which reduced the company's income and social contribution payment by 91% to 29 million reais.

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

(END) Dow Jones Newswires

11-13-20 0702ET

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Financials
Sales 2020 28 147 M 5 321 M 5 321 M
Net income 2020 3 176 M 600 M 600 M
Net Debt 2020 14 168 M 2 679 M 2 679 M
P/E ratio 2020 11,9x
Yield 2020 5,70%
Capitalization 37 149 M 7 077 M 7 023 M
EV / Sales 2020 1,82x
EV / Sales 2021 1,74x
Nbr of Employees 9 716
Free-Float 16,3%
Chart CPFL ENERGIA S.A.
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CPFL Energia S.A. Technical Analysis Chart | CPFE3 | BRCPFEACNOR0 | MarketScreener
Technical analysis trends CPFL ENERGIA S.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 37,18 BRL
Last Close Price 32,24 BRL
Spread / Highest target 27,8%
Spread / Average Target 15,3%
Spread / Lowest Target -3,85%
EPS Revisions
Managers and Directors
NameTitle
Gustavo Estrella Chief Executive Officer & Director
Bo Wen Chairman
Luís Henrique Ferreira Pinto Vice President-Regulated Operations
Yue Hui Pan Chief Financial Officer & IR Officer
Antonio Kandir Independent Director
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