Pampa Energía Reports Strong Q3 2026 Results
News related to:Pampa Energía · 2 min read
BUENOS AIRES, Argentina, Nov. 2, 2026 /CourierPR/ -- Pampa Energía, an independent energy company with operations in Argentine oil, gas, and electricity, reported strong financial results for the third quarter of 2026, highlighting a significant increase in sales and earnings.
Sales for the quarter ended on September 30, 2026, reached US$790 million, marking a 34% year-on-year increase. This growth was primarily driven by the normalization of the Wholesale Electricity Market, which supported higher spot energy prices and business-to-business (B2B) sales. Additionally, the company saw an uptick in gas sales to Combined Cycles, stronger crude oil sales, and higher Reformer prices. These factors were partially offset by lower gas deliveries under the Gas Sale Agreement and to industrial customers, as well as the impact of crude oil hedges.
Adjusted EBITDA for the quarter stood at US$398 million, up 23% year-on-year. The company attributed this to the higher thermal generation margins in the spot and B2B markets, as well as the benefits of vertical integration between gas production and thermal power generation. However, the impact of crude oil hedges dampened some of these gains.
Net income attributable to shareholders reached US$129 million, a sixfold increase from the same period in 2025. This substantial rise was mainly due to lower deferred income tax expenses and improved operating margins, though it was partially offset by lower foreign exchange gains.
As of September 2026, Pampa's net debt stood at US$1.731 billion, up from US$1.319 billion as of June 2026. The increase was attributed to higher capital expenditures, particularly at FEPASA, equity contributions to affiliates under development, prepayments related to the GPM expansion, and collateral posted for crude oil hedging. These were partially offset by operating cash flow generation and dividends received from Transener.
Pampa Energía will host a videoconference to discuss its Q3 2026 results on Tuesday, November 3, 2026, at 10:00 a.m. Eastern Standard Time/12:00 p.m. Buenos Aires Time. The hosts will be Gustavo Mariani, CEO; Horacio Turri, EVP and head of oil and gas; Adolfo Zuberbühler, CFO; and Lida Wang, IR & ESG Officer.