Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Ultrapar Rallies to Record After Earnings Beat Estimates

Don't Miss Out —
Follow us on:

Feb. 21 (Bloomberg) -- Brazil’s Ultrapar Participacoes SA, the fuel distributor that has expanded food sales at its service stations, soared to a record after reporting fourth-quarter earnings that beat analysts’ estimates.

Shares jumped 4.5 percent to 52.69 reais at the close of trading in Sao Paulo, the biggest rally since Sept. 3. Trading volume was 2.9 times the three-month average, according to data compiled by Bloomberg.

Adjusted net income was 298.8 million reais ($151.5 million) in the fourth quarter, according to data compiled by Bloomberg after the company reported earnings yesterday. That compares with analysts’ average estimate of 261.3 million reais.

“The company continues to report solid results, which will sustain the stock’s performance,” Itau BBA analysts Paula Kovarsky and Diego Mendes wrote in a research note.

Ultrapar has advanced 40 percent in the past year while the benchmark Bovespa index has fallen 15 percent.

To contact the reporter on this story: Julia Leite in New York at jleite3@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.