PAM reported revenue of ARS 3,062,922,000,000 and period profit of ARS 737,692,000,000 for the nine months ended September 30, 2026, versus ARS 1,805,519,000,000 and ARS 260,444,000,000, respectively, in 2025. Gross profit was ARS 1,011,925,000,000, and basic and diluted earnings per share were ARS 542.54, versus ARS 191.75. The interim statements are unaudited; an independent review concluded that nothing came to its attention indicating they were not prepared, in all material respects, under IAS 34.
Net cash generated by operating activities fell to ARS 208,184,000,000 from ARS 594,389,000,000. Pampa paid ARS 1,519,436,000,000 for property, plant and equipment acquisitions, and net cash used in investing was ARS 1,540,240,000,000. The net financial result was a loss of ARS 153,101,000,000, compared with a gain of ARS 30,599,000,000.
SMP, in which Pampa holds 20%, entered into a syndicated international loan of up to US$900 million for the San Matías pipeline project; lenders had disbursed US$118 million as of September 30, 2026. The seven-year loan bears interest at Term SOFR plus a 4.25% annual margin.
Pampa Energy Inc. Vicepresident Damian Miguel Mindlin reported two direct purchases of American Depositary shares: 19,413 shares at $68.43 each on November 3, 2026, and 19,239 shares at $66.93 each on November 4, 2026. Both purchases were reported as direct, non-derivative transactions, and no Rule 10b5-1 plan is reported for them.
Pampa Energy Inc. Chief Financial Officer Adolfo Fernando Zuberbuhler purchased 3,136 common shares on November 4, 2026, at a reported $66.11 per share. His reported direct holdings after the purchase were 2,885 shares. The reported price reflects 4,440 Argentine pesos per share, converted using 1,679 Argentine pesos per U.S. dollar and multiplied by 25, the stated number of common shares per ADR. No Rule 10b5-1 plan is reported.
Pampa Energy Inc. furnished Q3 2026 results-call materials describing how certain income-statement figures are calculated in U.S. dollars and setting out forward-looking-statement cautions.
For those figures, Pampa says calculations combine its stand-alone results and power-generation and other subsidiaries’ results in transactional U.S. dollars with Transener and TGS affiliate results expressed in Argentine pesos and converted at the period-end exchange rate. The currency conversion is not a representation that amounts could be converted at that or another exchange rate.
Management identifies completion of new generation projects, tariff revision processes at distribution and transmission subsidiaries, and anticipated growth prospects among risks that could cause actual results to differ materially from forward-looking statements.
Pampa Energy Inc. (Pampa Energía S.A.)’s board approved amendments to certain key executives’ compensation agreements, including changes tied to reaching age 67 and a four-year transition in duties. Fixed compensation will continue for four years, while variable compensation will cease to accrue under the agreements’ age-related provisions. The amendments also clarify when incentive-payment acceleration is permitted and how accrued but unpaid entitlements are treated upon an executive’s death or total and permanent disability.
The company said the clarifications do not alter the originally agreed variable-compensation accrual, calculation or payment mechanisms. The Compensation Committee issued a favorable opinion, and the board unanimously approved the changes.
Pampa Energy Inc. approved a one-year renewal, beginning November 2, 2026, of its general framework for transactions with Sociedad Argentina de Construcción y Desarrollo Estratégico S.A. (SACDE), a company that shares Pampa’s controlling group. The framework covers acquiring construction and engineering services for Company projects to be carried out in the next year, provided transactions are on terms considered reasonable under prevailing market conditions.
The Audit Committee concluded that transactions following the pre-established, approved conditions could reasonably be considered arm’s-length market transactions. Directors Gustavo Mariani, Ricardo Torres and Nicolás Mindlin abstained; all other directors present voted in favor.
Pampa Energy Inc. reported that Flavia Bavilacqua resigned from her position as an alternate director. The notice spells her name Flavia Bavilacqua; the board resolution spells it Flavia Bevilacqua.
The board resolution says the resignation was effective October 6, 2026, and was unanimously approved on November 2, 2026. It states that she had been appointed at the Ordinary and Extraordinary General Shareholders’ Meeting on April 7, 2025. Pampa said the resignation was for personal reasons and would not affect the Board’s normal functioning.
PAM reported Q3 2026 sales of US$790 million, up 34% year over year, and consolidated adjusted EBITDA of US$398 million, up 23%. Net income attributable to shareholders was US$129 million, six times Q3 2025, mainly reflecting lower deferred income tax expense and improved operating margins, partly offset by lower FX gains. Power generation adjusted EBITDA rose 33% to US$160 million; petrochemicals adjusted EBITDA was US$9 million, versus a US$5 million loss a year earlier. Net cash generated by operating activities was US$153 million versus US$343 million. Net debt was US$1.731 billion as of September 30, 2026, compared with US$1.319 billion as of June 2026.
MECON approved the Fertilizer Project’s RIGI application on September 7, 2026. The project is planned for annual production capacity of 2.1 million tons of granular urea, with estimated investment of approximately US$2.7 billion and operations expected by year-end 2029. For the GPM expansion, if TGS’s request for authorization to add 4.5 mcmpd is approved, TGS will award Pampa an additional 4.3 mcmpd of transportation capacity. Pampa also secured 6 mcmpd of natural gas in October tenders at US$2.25 per MBTU, with contract periods starting in May 2028, May 2029 and May 2030.
Pampa Energy Inc. (Pampa Energía S.A.; PAM) reported nine-month 2026 revenue of US$2.109 billion, compared with US$1.491 billion a year earlier, and profit of the period of US$519 million, versus US$216 million. Basic and diluted earnings per share were US$0.38, compared with US$0.16. Revenue included US$1.007 billion from generation and US$702 million from oil and gas sales.
Net cash generated by operating activities was US$134 million, compared with US$490 million in the same period of 2025, while payments for property, plant and equipment acquisitions totaled US$1.043 billion. Borrowings were US$2.766 billion as of September 30, 2026, versus US$1.892 billion as of December 31, 2025. Installed generation capacity was 5,207 MW as of September 30, 2026, approximately 12% of Argentina’s installed capacity.
SMP, in which Pampa has a 20% interest, had received US$118 million in bank disbursements by September 30, 2026, under a syndicated loan of up to US$900 million for a pipeline project with an estimated investment of US$1.3 billion. The loan has a seven-year term, and the pipeline is expected to be commissioned in the second quarter of 2028.
Pampa Energy Inc. (PAM) reported that director and ten percent owner Marcos Marcelo Mindlin purchased 435,000 American Depositary shares at $80.78 per share on October 15, 2026. The transaction is reported as direct, and his reported holdings afterward were 7,191,339 shares. No Rule 10b5-1 plan is reported.