On Monday, August 10, 2026, JSL S.A. (JSLG3) released its results for the second quarter of 2026 (2Q26). The company reported adjusted net income of R$ 30.2 million for the period, on net revenue of R$ 2.5 billion, of which R$ 2.4 billion came from services and R$ 89.4 million from asset sales.
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) reached R$ 493.7 million in 2Q26, with a margin of 19.8%, practically stable compared to 1Q26. Reported EBITDA was R$ 486.2 million, and the EBITDA margin stood at 19.5%. Adjusted EBIT totaled R$ 305.4 million, with a margin of 12.2%.
In the quarter, JSL generated R$ 164 million in cash after growth, already considering interest payments, right-of-use leases and acquisitions of companies. Asset sales totaled R$ 91.9 million, exceeding gross capex of R$ 69.0 million and contributing R$ 22.9 million to cash. Leverage, measured by net debt/EBITDA, was 2.74x in 2Q26, below the 3.18x in 2Q25.
Gross debt ended 2Q26 at R$ 6.9 billion, while net debt stood at R$ 5.4 billion, with an average annual cost of 15.9% before taxes and 10.5% after taxes. JSL held R$ 1.5 billion in cash and financial investments, in addition to R$ 233 million in committed and undrawn credit lines, totaling R$ 1.8 billion in liquidity sources.
In the first half, net revenue totaled R$ 4.9 billion, and adjusted EBITDA reached R$ 964.9 million. The company also reported a ROIC (return on invested capital) over the last 12 months of 14.6% in 2Q26 and released a gross revenue projection of R$ 21.4 billion for calendar year 2030, equivalent to an average annual growth of 14% compared to 2025.
