On Friday, August 14, 2026, Boa Safra (SOJA3) released its results for the second quarter of 2026 (2Q26), reporting net income of R$ 3 million, reversing the loss from 2Q25 in continuing operations. In the period, Net Operating Revenue came to R$ 124.681 million and EBITDA (earnings before interest, taxes, depreciation and amortization) was R$ 52.208 million, while Adjusted EBITDA reached R$ 27.697 million.
In 2Q26, Gross Operating Revenue totaled R$ 138 million, virtually flat compared to the R$ 140 million in 2Q25 (-2%), and Net Operating Revenue grew 23% over the same quarter of the previous year, up from R$ 101.250 million. Gross Profit advanced 83% on the same basis of comparison, rising from R$ 38.167 million to R$ 69.693 million, with a Gross Margin of 56%, versus 38% a year earlier.
Consolidated Adjusted EBITDA of R$ 27.697 million in 2Q26 represented a 504% increase versus the R$ 4.586 million in 2Q25, with a margin of 22%, compared to 4% in the previous period. Net financial result, in turn, went from a positive R$ 9.348 million in 2Q25 to a negative R$ 38.280 million in 2Q26, mainly influenced by interest on the Agribusiness Receivables Certificates (CRAs) issued in 2025, whose charges totaled R$ 62.136 million in the quarter, compared to R$ 38.371 million a year earlier.
At the end of June 2026, consolidated net debt stood at R$ 619.821 million, a 23% reduction compared with the R$ 800.298 million in 2Q25, while gross debt totaled R$ 1.932.561 billion. The company closed the quarter with R$ 1.312.740 billion in cash and financial investments and with only 8% of its debt maturities scheduled for the next 12 months.
In the last twelve months ended in 2Q26, Gross Operating Revenue reached R$ 2.851 billion (+34% versus LTM 2Q25), Net Operating Revenue totaled R$ 2.614.507 billion (+39%) and Gross Profit came to R$ 280.428 million (+25%). Over the same horizon, EBITDA was R$ 178.776 million, with a margin of 7%, Adjusted EBITDA reached R$ 154.001 million, with a margin of 6%, and net income totaled R$ 20.631 million, a 77% drop compared to the R$ 89.412 million in LTM 2Q25.
