NYSE$CIG
Companhia Energetica de Minas Gerais-ADR · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Cemig Q3 2024: R$10.15B net revenue, R$3.28B net profit on asset sale gains
Companhia Energética de Minas Gerais (Cemig) reported third quarter 2024 results. Net revenue increased 7.7% year over year to R$10.15 billion. Net profit surged 165.2% to R$3.28 billion from R$1.24 billion in Q3 2023, driven primarily by the sale of Aliança Energia and positive effects from the transmission tariff review. Consolidated EBITDA rose 146.5% to R$4.96 billion, marking the company's best-ever quarterly EBITDA. Cash and securities increased to R$6.75 billion by nine months 2024. Cemig issued its 11th sustainable debenture raising R$2.5 billion and received a record AAA credit rating from Fitch.
- Q3 net revenue of R$10.15B up 7.7% YoY
- Net profit of R$3.28B up 165.2%, boosted by Aliança Energia divestment
- Consolidated EBITDA of R$4.96B up 146.5%, best quarterly result ever
- Cash and securities reached R$6.75B by 9M24
- Achieved AAA credit rating from Fitch; R$2.5B sustainable debenture issued
Headline financials
Revenue & EPS history
Cemig · Revenue · Quarterly
R$10.2B
Forward guidance
2024 investment plan of R$6.2B with R$35.6B planned for 2024–2028; dividend payout policy at 50% of IFRS results.
Tailwinds
- Record EBITDA and AAA rating
- Transmission tariff review gains
Headwinds
- Leverage expected to rise to 2–2.5x by 2027 on heavy investment
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-0.4%
Avg return
Earnings day
-0.4%
Avg return
5 days after
+2.4%
Avg return
30 days after
51%
31 / 61 earnings
Positive
+7.3%
Q1 2022
Best reaction
-24.3%
Q1 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -1.3% | -6.1% | -15.7% | |
| Q4 2026 | +4.0% | -1.9% | -15.0% | |
| Q2 2025 | -2.6% | +1.5% | +7.2% | |
| Q4 2024 | -7.1% | -7.6% | -11.6% | |
| Q3 2024 | +7.3% | -1.5% | -12.9% | |
| Q1 2024 | -1.5% | +1.6% | -4.5% | |
| Q4 2023 | -1.7% | +0.0% | -1.7% | |
| Q3 2023 | -0.5% | +1.2% | -13.3% | |
| Q2 2023 | -5.1% | -6.6% | -4.3% | |
| Q1 2023 | -1.6% | -1.2% | -2.5% | |
| Q4 2022 | -5.1% | -1.5% | +4.9% | |
| Q3 2022 | +2.0% | -1.0% | +6.6% | |
| Q1 2022 | +7.3% | +13.4% | -12.6% | |
| Q4 2021 | -2.1% | -7.1% | +2.9% | |
| Q3 2021 | +2.8% | +0.8% | +1.6% | |
| Q2 2021 | +0.0% | +2.4% | +18.0% | |
| Q1 2021 | +5.3% | +7.1% | +15.6% | |
| Q4 2020 | -2.6% | -1.0% | -11.5% | |
| Q3 2020 | +1.9% | +4.9% | -1.1% | |
| Q2 2020 | +6.9% | +3.5% | +21.4% | |
| Q1 2020 | -9.3% | -14.0% | +0.0% | |
| Q4 2019 | +0.6% | -2.3% | +2.6% | |
| Q3 2019 | +2.3% | +1.5% | -0.3% | |
| Q2 2019 | +0.5% | +1.8% | -3.4% | |
| Q1 2019 | -0.5% | +1.7% | +3.6% | |
| Q4 2018 | +5.6% | +5.1% | +6.0% | |
| Q3 2018 | +0.0% | +27.5% | +75.4% | |
| Q2 2018 | +0.5% | +3.3% | +16.8% | |
| Q1 2018 | -3.8% | -5.0% | -7.4% | |
| Q4 2017 | +3.8% | +1.5% | +14.1% | |
| Q3 2017 | -1.8% | +1.4% | -7.5% | |
| Q2 2017 | +0.8% | +0.8% | +10.3% | |
| Q1 2017 | -24.3% | -24.5% | -18.4% | |
| Q4 2016 | -1.4% | -25.8% | -22.6% | |
| Q3 2016 | +2.2% | +2.3% | +12.8% | |
| Q2 2016 | +4.6% | +10.0% | +31.3% | |
| Q1 2016 | -5.9% | — | — | |
| Q4 2015 | -5.9% | — | — | |
| Q3 2015 | +5.4% | — | — | |
| Q2 2015 | -2.6% | — | — | |
| Q1 2015 | +3.9% | — | — | |
| Q4 2014 | -1.6% | — | — | |
| Q3 2014 | -14.9% | — | — | |
| Q1 2025 | — | — | — | |
| Q2 2014 | -3.1% | — | — | |
| Q1 2014 | -1.7% | — | — | |
| Q4 2013 | -1.7% | — | — | |
| Q3 2013 | +2.1% | — | — | |
| Q2 2013 | +0.3% | — | — | |
| Q1 2013 | +0.2% | — | — | |
| Q4 2012 | +4.3% | — | — | |
| Q3 2012 | +0.2% | — | — | |
| Q2 2012 | +3.5% | — | — | |
| Q1 2001 | +3.8% | — | — | |
| Q4 2011 | -1.2% | — | — | |
| Q3 2011 | -6.1% | — | — | |
| Q2 2011 | +1.1% | — | — | |
| Q1 2011 | +5.1% | — | — | |
| Q4 2010 | +2.0% | — | — | |
| Q3 2010 | +3.1% | — | — | |
| Q2 2010 | +1.2% | — | — | |
| Q1 2010 | -0.2% | — | — |
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