Empresa Distribuidora Y Comercializadora Norte · Q1 2026 earnings

Briefing

Edenor Q1 2026: ARS 846.7B constant-peso revenue, net income up 148% to ARS 117.9B

Empresa Distribuidora y Comercializadora Norte (Edenor) reported Q1 2026 results under IAS 34 interim reporting, with figures restated in millions of constant Argentine pesos per IAS 29 hyperinflation rules. Revenue was essentially flat at ARS 846.7 billion versus ARS 846.7 billion a year earlier, while distribution margin improved to ARS 386.7 billion from ARS 342.6 billion as energy purchase costs fell. Operating profit more than quadrupled to ARS 134.4 billion from ARS 30.6 billion, helped by ARS 110.8 billion in monetary gain (RECPAM) and lower transmission expenses. Net income reached ARS 117.9 billion versus ARS 47.6 billion, and basic EPS rose to ARS 134.69 from ARS 54.42. Management cited continued electricity rate adjustments, including ENRE-approved CPD increases effective April and May 2026, as supporting improved cash generation and investment in grid reliability.

• Revenue was ARS 846.7B in constant pesos, flat YoY, while distribution margin expanded to ARS 386.7B from ARS 342.6B.
• Operating profit jumped to ARS 134.4B from ARS 30.6B; net income rose 148% to ARS 117.9B and EPS to ARS 134.69.
• Monetary gain (RECPAM) contributed ARS 110.8B; net financial costs remained a headwind at ARS 70.5B.
• Cash and equivalents were ARS 165.5B at March 31, 2026; operating cash flow was ARS 60.8B in the quarter.
• ENRE approved further CPD-linked rate increases effective April 1 (+2.04%) and May 1 (+4.1%) after quarter-end.

Headline financials

Revenue & EPS history