Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (EDN) Earnings Call Transcripts

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima's Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Empresa Distribuidora y Comercializadora Norte (Edenor) reported revenues of ARS 847 billion, flat in real terms year-over-year, while EBITDA surged 127% to ARS 191 billion, driven by tariff adjustments and improved operational efficiencies. The company maintained a high collectivity rate of 95.68% and reported a profit of ARS 118 billion, up 147% from the previous year. Management signaled strong future potential, projecting full-year EBITDA between $300 million and $320 million, indicating a robust outlook despite some one-time effects in the current quarter.

Reported metrics

Guidance from management

Management projects full-year EBITDA to be in the range of $300 million to $320 million, indicating a solid outlook for the remainder of 2026.

What management said

Well, we know that in October of last year, sorry, we present the claim of the regulatory asset base and the government has sent last week to Congress to pass a law regarding this consideration. And now this is in the process of the commission of the Congress of the Energy Commission analyzing the project of the law and then we'll go to deputies and then to Senadors. So it will take probably 1 month or more than a ...

Okay. Investment in the first quarter was ARS 70 billion, approximately $49 million. For 2026, we anticipate CapEx will be in the range of $170 million, $180 million. This is somewhat lower than 2025 spending, which was higher for specific reasons, particularly the certain market conditions in 2024 and 2025. We expect our CapEx program will be -- remain very robust and solid with projects spending in the current proj...

What analysts pressed on

Analysts expressed concerns regarding the sustainability of margins, particularly due to one-time effects impacting current results. There were questions about the expected CapEx and how it aligns with future growth initiatives.

Main topics on the call

• EBITDA Surge — Edenor's EBITDA rose 127% to ARS 191 billion, significantly benefiting from tariff adjustments and operational improvements. Management noted, 'the main improvement was due to a strong revenue as a result of the 5-year t...
• Regulatory Environment Improvement — The restoration of a healthy regulatory environment has positioned Edenor for growth. Management stated, 'These factors, combined with our focus on continuous operational improvements... have positioned the company well ...
• CapEx Guidance — For 2026, Edenor anticipates CapEx to be between $170 million and $180 million, slightly lower than 2025 due to specific market conditions. Management emphasized, 'We expect our CapEx program will be robust and solid.'
• Tariff Adjustments Impact — The company has benefited from a 5-year tariff review, with an average monthly adjustment of 3%. The management highlighted, 'The accumulated VAT increase in 2026 was 37% versus inflation of 32%.'

Read the full Empresa Distribuidora y Comercializadora Norte Sociedad Anónima transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 25 Empresa Distribuidora y Comercializadora Norte Sociedad Anónima earnings call transcripts on record, spanning March 9, 2020 to May 11, 2026. Based on this history, Empresa Distribuidora y Comercializadora Norte Sociedad Anónima reports quarterly. The most recent call on file is dated May 11, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

EDN

Exchange

BASE

Country

AR

Sector

Utilities

Industry

Electric Utilities

Calls on record

25

First call

March 9, 2020

Most recent

May 11, 2026

Reporting cadence

quarterly