Braskem (BRKM3, BRKM5 and BRKM6) posted a net loss attributable to shareholders of R$ 1.1 bi (R$ 1,068 mi, or US$ 206 mi) in 3Q26. The result reflects lower gross profit, after petrochemical spreads (the difference between the prices of products and raw materials) normalized in the international market, returning to levels close to those before the geopolitical tensions in the Middle East, and a negative foreign exchange variation of R$ 100 mi. In 2Q26, the company had posted a profit of R$ 3.3 bi.
Net revenue was R$ 19.6 bi (US$ 3.8 bi), down 10% from 2Q26 and up 13% from 3Q25. Gross profit totaled R$ 2.0 bi, compared with R$ 5.3 bi in 2Q26. Recurring EBITDA (earnings before interest, taxes, depreciation and amortization) was US$ 382 mi (R$ 1,961 mi), 63% lower than in 2Q26 and 154% higher than in 3Q25, when it was US$ 150 mi. Net financial result was negative R$ 1.6 bi.
By segment, recurring EBITDA was US$ 267 mi in Brazil/South America, US$ 15 mi in the United States and Europe, and US$ 2 mi in Mexico (Braskem Idesa). The company cites increased resin sales in Brazil (+12%), resin exports (+37%) and PE sales in Mexico (+28%) as partial offsets.
Operating cash generation was R$ 2.2 bi, helped by a commercial credit limit of about R$ 1.6 bi for purchasing raw materials from Petrobras and by a R$ 475 mi positive effect from inventories. Cash generation before debt was R$ 2.0 bi. Adjusted net debt reached US$ 9.9 bi, up 5% from 2Q26, and leverage (adjusted net debt over recurring EBITDA) stood at 6.36x, versus 6.74x in 2Q26.
Planned investment for 2026 was revised from US$ 465 mi to US$ 496 mi (R$ 2.7 bi), with the Operational Excellence 360° program. Fitch revised the credit rating to RD on the global scale on August 14, 2026. The earnings conference call will be on November 13, at 11 a.m. (Brasília time).
Is BRKM5 worth investing in?
- Price
- R$ 2.92
- as of 11/11/2026
- Dividend yield
- 0.00 %
- P/L
- N/A
- P/VPA
- N/A
