On Thursday, August 6, 2026, Grendene (GRND3) reported adjusted net income of R$ 95.3 million in the second quarter of 2026 (2Q26), a decrease of 48.6% compared to 2Q25. In the same period, net revenue totaled R$ 552.8 million, a 0.4% year-over-year decline, in an environment the company described as one of more selective consumption in the domestic market and a cautious global backdrop.
In 2Q26, total volume sold reached 26.8 million pairs, down 0.9% from the previous year, while net revenue per pair rose 0.5% to R$ 20.64. Gross profit came to R$ 234.5 million, up 0.6%, with a gross margin of 42.4%, 0.4 percentage point higher than in 2Q25. Adjusted EBIT (earnings before interest and taxes) was R$ 15.8 million, a drop of 48.2%, with a margin of 3.3%, and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) totaled R$ 40.7 million, down 27.4%, with a margin of 8.4%.
In the half-year, Grendene recorded net revenue of R$ 1.09 billion, down 2.9% from the first half of 2025, and adjusted net income of R$ 217.4 million, a decline of 37%. The adjusted net margin for the period fell from 33.4% to 22.1%. Cost of goods sold remained practically stable at R$ 622.2 million year to date, but came to represent 57.3% of net revenue, versus 55.6% a year earlier.
The company also announced a proposal for a second early distribution of dividends and Interest on Equity (JCP) related to profit between January 1 and June 30, 2026, totaling R$ 58.6 million, of which R$ 28.6 million in dividends and R$ 30.0 million in JCP. Payment is scheduled from September 9, 2026, for shareholders of record on August 21, 2026, and the shares will trade ex-dividends and ex-JCP as of August 24.
At the end of June 2026, Grendene reported net cash of R$ 1.5 billion, compared to R$ 2.2 billion on June 30, 2025, a reduction mainly attributed to dividend and JCP distributions, partially offset by R$ 336.4 million in cash generated from operating activities in the first half of 2026. Investments in property, plant and equipment and intangible assets totaled R$ 31.2 million in 2Q26 and R$ 48.5 million in the half-year.
