Grupo Fleury (FLRY3) reported net income of R$ 264.3 mn in 3Q26, up 42.9% from 3Q25, when it totaled R$ 184.9 mn. The net margin rose from 8.4% to 10.6%. The effective tax rate was 17.3%, 556 bps below 3Q25, reflecting a better expectation of using the Lei do Bem tax benefit and JCP (Interest on Equity) during the year.
Gross revenue reached R$ 2,695.5 mn, up 13.3% (9.9% organic) versus 3Q25. Net revenue was R$ 2,485.0 mn, an increase of 13.4%. B2C grew 14.1% (9.3% organic), B2B advanced 12.7% and Novos Elos rose 8.4%.
EBITDA (earnings before interest, taxes, depreciation and amortization) totaled R$ 672.2 mn, up 12.2%, with a 27.1% margin, versus 27.4% in 3Q25. Gross profit was R$ 718.1 mn, with a 28.9% margin. In the 9M26 cumulative period, net income was R$ 687.4 mn, up 33.1%, and gross revenue totaled R$ 7,620.3 mn.
Operating cash flow was R$ 798.5 mn, up 11.1%. Net debt ended September at R$ 2,275.5 mn, equivalent to 1.0x EBITDA for the last 12 months. The average cost of debt is CDI + 0.68%. ROIC (return on invested capital) was 18.7%. Capex (capital expenditures) totaled R$ 102.8 mn, down 18.4%.
The company completed the acquisition of Femme in May 2026 and announced in October the purchase of Unilab, a laboratory chain in Atibaia (SP), for R$ 55 mn. The earnings conference call will be held on November 6, 2026, at 11 a.m.
