Rede Mater Dei’s second-quarter 2026 results delivered a clear earnings beat, with adjusted net income of R$ 45 million, up 66% from R$ 27 million a year earlier. The stock rose after the announcement, reflecting investor approval of the hospital operator’s operational momentum and improving balance sheet.
The quarter’s strength was broad-based. Net revenue reached R$ 614 million, a 12.4% year-over-year increase, while adjusted EBITDA climbed 20% to R$ 139 million. For the first half of 2026, adjusted net income totaled R$ 81.3 million, up 71.9% annually, and revenue reached R$ 1.188 billion, a 13.7% gain.
Occupancy was a central driver. The company reported a bed occupancy rate of 83.9% at the end of June and 84.1% on average for the semester. Average ticket rose 12.4% to R$ 2.87 million per bed, while patient-days increased 6.3% from the first quarter to 87,760. The company also highlighted growth in oncology, expanded use of robotic surgery, and an AI tool supporting electronic medical records.
Leverage improved meaningfully. Net debt fell to R$ 763 million, down from R$ 772 million at the end of the second quarter of 2025, and the net debt-to-adjusted EBITDA ratio declined from 1.6x to 1.5x. The company also prepaid a R$ 200 million debenture on July 20, 2026, and accredited Bradesco Saúde Efetivo Plus at its Salvador hospital.