TGS Q4 2025 Earnings Report — Transportadora de Gas del Sur S.A. Revenue & Financial Results | Market Cap Arena

Transportadora de Gas del Sur S.A.TGS

Q4 2025 Earnings

Reported March 25, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2025	Q3 2025	Q4 2024	QoQ Change	YoY Change
Revenue	$409M	—	$297M	—	37.8%
Op. Income	$178M	—	$162M	—	9.5%
Gross Margin	54.3%	—	54.0%	—	0.2pp
Net Margin	25.9%	—	35.9%	—	-9.9pp
EPS (Diluted)	$0.70	—	$0.73	—	-3.8%
Free Cash Flow	$15M	—	$64M	—	-76.0%

Revenue Flow

Item	Amount
REVENUE	$409M
Cost of Revenue	$187M
GROSS PROFIT	$222M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$44M
Other Expenses	$345
Operating Expenses	$44M
Cost & Expenses	$231M
OPERATING INCOME	$178M
Interest Income	$8M
Interest Expense	$24M
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$169M
Income Tax Expense	$63M
Net Income from Continuing Ops	$106M
Net Income from Discontinued Ops	$0
Other Adjustments	-$1
NET INCOME	$106M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$106M
D&A	$46M
EBIT	$178M
EBITDA	$223M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$409M
Cost of Revenue	$187M
GROSS PROFIT	$222M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$44M
Other Expenses	$345
Operating Expenses	$44M
Cost & Expenses	$231M
OPERATING INCOME	$178M
Interest Income	$8M
Interest Expense	$24M
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$169M
Income Tax Expense	$63M
Net Income from Continuing Ops	$106M
Net Income from Discontinued Ops	$0
Other Adjustments	-$1
NET INCOME	$106M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$106M
D&A	$46M
EBIT	$178M
EBITDA	$223M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$106M
Depreciation & Amortization	$46M
Stock-Based Compensation	$0
Deferred Income Tax	$19M
Other Non-Cash Items	$12M
Change in Working Capital	-$80M
OPERATING CASH FLOW	$102M
Capital Expenditure	-$86M
Acquisitions (Net)	$0
Purchases of Investments	-$112M
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$198M
Net Debt Issuance	$728M
Common Stock Repurchased	$0
Common Dividends Paid	-$5M
Other Financing Activities	-$174.3K
NET CASH FROM FINANCING	$722M
FREE CASH FLOW	$15M
Net Change in Cash	$524M

Balance Sheet

Item	Amount
Cash & Equivalents	$579M
Short-Term Investments	$723M
Net Receivables	$159M
Inventory	$141M
Other Current Assets	$1
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$2.3B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$4M
Tax Assets	$37.3K
Other Non-Current Assets	$6.8K
TOTAL NON-CURRENT ASSETS	$2.3B
TOTAL ASSETS	$3.9B
Account Payables	$72M
Short-Term Debt	$153M
Deferred Revenue	$6M
Other Current Liabilities	$33M
TOTAL CURRENT LIABILITIES	$322M
Long-Term Debt	$1.1B
Deferred Revenue NC	$99M
Deferred Tax Liabilities	$173M
Other Non-Current Liabilities	$1
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$1.6B
Common Stock	$542.2K
Additional Paid-In Capital	$699M
Retained Earnings	$303M
Treasury Stock	-$52M
Accum. Other Comp. Income	$1.3B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$2.0K
TOTAL EQUITY	$2.3B
TOTAL LIABILITIES & EQUITY	$3.9B
Total Debt	$1.2B
Net Debt	$626M