Brazilian corporate earnings season shows Santander profit rise, WEG dip

Santander reported an adjusted net profit of €3.768 billion for the second quarter of 2026, a 15% increase year‑on‑year after excluding currency effects. The bank’s return on equity rose to 13.9% and its efficiency ratio improved to 42.8%. However, the Brazilian subsidiary’s attributable profit fell 3% to €551 million (about R$3.3 billion).

WEG posted a net profit of R$1.559 billion, down 2.1% from the same quarter a year earlier, with revenue of R$10.143 billion slipping 0.6% YoY. EBITDA reached R$2.212 billion, also 2.1% lower. Analysts at Bradesco BBI forecast a profit of R$1.47 billion for WEG, an 8% decline, citing pressured margins and a mixed outlook for domestic and international revenue streams.