Correios records a loss of R$3.1 billion in the first quarter of 2026

Correios recorded a net loss of R$3.158 billion in the first quarter of 2026, a significant increase compared to the loss of R$1.725 billion recorded in the same period of the previous year. The result was released by the state-owned company this weekend.

Despite the negative final result, the state-owned company managed to present a gross profit of R$153.4 million, reversing the gross loss recorded at the beginning of 2025, which indicates an improvement in the direct operating margin before the impact of administrative and financial expenses.

The institution's accounting report attributes this performance to structural and market factors. The company has been facing a persistent reduction in revenue from traditional postal services, coupled with increased competition in more profitable logistics segments, such as e-commerce.

In addition, Correios highlights the cost of maintaining the high capillarity of its network, necessary to comply with the legal obligation of universal postal services, which requires presence in remote locations with low profitability.

Another factor that weighed on the quarter's balance sheet was the jump in general and administrative expenses, which went from R$1.22 billion to R$2.27 billion in the annual comparison. According to Correios, this increase was driven by salary adjustments, inflationary pressures and, significantly, the review of provisions related to labor, civil and tax lawsuits.

The financial result also contributed to the net loss, presenting a negative balance of R$636.9 million, impacted by the cost of charges and commissions on debts contracted to guarantee the liquidity of the operation.

To mitigate these effects, Correios management is committed to a Restructuring Plan structured around operational efficiency, revenue diversification and recovery of financial predictability.

With implementation at the end of last year, during the Plan's validity, the state-owned company carried out early repayment of loans with high costs and replaced these debts with a new long-term operation guaranteed by the Union, aiming to alleviate pressure on cash in the short term.

The consolidation of these positive results, however, remains subject to the fulfillment of modernization goals and the stability of the economic environment.

Source: CNN