Cox Energy América (COXA) Q4 2025 earnings summary

Executive summary

• Revenue more than doubled year-over-year to $10,766.5 million, up 113% from $5,049.4 million in 2024.

• Net income for 2025 reached $968.9 million, a 30% increase from $746.9 million in 2024.

• Strategic acquisitions of Ibox Energy and Khi Solar One expanded the asset base and geographic reach.

• Cash and equivalents rose 38% to $1,322.7 million, reflecting improved liquidity.

Financial highlights

• EBITDA increased 28% year-over-year to $3,037.5 million.

• Operating income (EBIT) rose 43% to $1,770.0 million.

• Gross profit climbed 48% to $4,118.3 million.

• Administrative expenses grew 42% to $984.1 million; financial expenses surged 118% to $733.3 million.

• Total assets increased 12.5% to $14,994.5 million; equity up 10.6% to $4,323.8 million.

Outlook and guidance

• Management expects continued growth through expansion in Latin America and Europe, focusing on renewable energy projects.

• Ongoing regulatory changes in Mexico and other markets are being closely monitored for impact on operations and strategy.

• The company is committed to sustainable growth, innovation, and maintaining a strong liquidity position.