3 Key Points — CBA posted a net loss of R$ 164 million ($31M) in Q4 2025, nearly tripling the year-ago loss of R$ 56 million, as accounting effects from energy futures contracts and foreign-exchange hedging instruments overwhelmed operating improvements. — Adjusted EBITDA fell 47% year-over-year to R$ 257 million ($49M) but rose 10% sequentially […]