Fewer solar projects push Brazil's WEG to 5.7% drop in Q1 profit
Published on April 29, 2026.
Brazilian motor manufacturer, WEG, reported a 5.7% drop in Q1 net profit to 1.46 billion reais ($293 million), below market expectations. The company attributed this to a stronger Brazilian currency and decreased demand for solar power projects in Latin America's largest economy. WEG cited a lack of new solar power generation projects, oversupply and low interest rates as reasons for its poor performance. Despite ongoing geopolitical uncertainty, the company remains confident in its business model.
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