On Thursday, August 13, 2026, Três Tentos Agroindustrial (3tentos, TTEN3) released its results for the second quarter of 2026 (2Q26). The company posted adjusted net income of R$ 14.4 million for the period, a decrease of 86.3% compared to 2Q25, with an adjusted net margin of 0.3%. Net Operating Revenue totaled R$ 4,700.4 million, an increase of 31.9% year over year.
In the first six months of 2026 (6M26), adjusted net income reached R$ 245.3 million, up 14.5% versus 6M25, with an adjusted net margin of 2.8%. Net operating revenue for the half-year came to R$ 8,907.3 million, growth of 26.1% versus the same period in 2025.
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) with hedge was R$ 78.7 million in 2Q26, down 64.3% versus 2Q25, with a margin of 1.7%. In 6M26, adjusted EBITDA with hedge totaled R$ 472.9 million, growth of 12.8% compared to 6M25, with a margin of 5.3%. Adjusted gross profit with hedge was R$ 669.5 million in the quarter, an increase of 9.0%, and the adjusted gross margin with hedge was 14.2%.
By segment, Inputs revenue totaled R$ 487.3 million in 2Q26, an increase of 24.6% versus 2Q25, with adjusted gross profit of R$ 96.3 million and a margin of 19.8%. In Grains, revenue was R$ 2,202.9 million, up 76.0%, with adjusted gross profit of R$ 188.5 million and a margin of 8.6%. In Industry, revenue reached R$ 2,010.1 million, an increase of 4.7%, while adjusted gross profit fell 41.2% to R$ 244.8 million, with a margin of 12.2%.
3tentos ended 2Q26 with net debt of R$ 3,576.3 million, an increase of R$ 1,976.2 million compared to December 2025, driven by working capital needs for building soybean inventories and by investments in industrial expansion, including the new ethanol plant that started operations in the quarter. The company also reported obtaining a prior waiver for the leverage covenant in certain debt contracts, valid for the quarters ended June 30, September 30 and December 31, 2026.
