EarningsQ2 2026 Earnings Report

Braskem S.A. (BRKM3) Q2 2026 Earnings Report

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Previous Report: Q1 2026

BR:BRKM3 Q2 2026 EPS Results

Actual EPSR$4.14

Consensus EPSR$3.10

Beat/MissBeat by +R$1.05

One Year Ago EPS-R$0.41

BR:BRKM3 Q2 2026 Revenue Results

Actual RevenueR$21.71B

Expected RevenueR$22.06B

Beat/MissMissed by -R$348.20M

YoY Revenue Growth+21.60%

Earnings Announcement Details

QuarterQ2 2026

Date08/13/2026

TimeAfter Close

Conference CallThursday, August 13, 2026

BR:BRKM3 Upcoming Earnings

Braskem S.A.'s next earnings date is estimated for November 12, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

No earnings call audio is available for this earnings event.

Q2 2026 Earnings Slide Deck

No slide deck is available for this earnings event.

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Aug 13, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call presented a mix of strong tactical results and clear execution progress (notably a large consolidated EBITDA, substantial Brazil segment earnings rebound, material cash generation, green product growth, and near-complete Alagoas remediation milestones). However, management repeatedly emphasized that Q2 benefits were driven by a temporary supply shock and that the petrochemical sector remains structurally challenged (overcapacity, moderate demand) with expected normalization of spreads. The company also faces ongoing capital-structure pressures and working-capital volatility, and has taken liquidity-preservation actions in Mexico while pursuing creditor negotiations. Overall, positive quarter-to-quarter operational and financial performance is balanced by material medium-term risks and an active financial restructuring agenda.

Company Guidance

Guidance for H2‑2026/2027: external consultants expect spreads to normalize to a moderate base with occasional upside but specifically forecast a 59% decline in Brazilian PE‑naphtha spreads from Q2→Q3‑2026 as trade flows re‑direct, against a backdrop of excess supply (≈20 million tonnes PE oversupply, ~15% of capacity at end‑2025) and ongoing volatility; Braskem’s forward priorities are preserving liquidity, executing a consensual capital restructuring (including Braskem Idesa), strict capital‑allocation discipline, and capturing cash/EBITDA via an operational‑excellence/transformation plan. Key metrics and operating guidance cited: 2026 global asset CapEx (ex‑Idesa) $485M with ~35% spent YTD (company run‑rate historically ≈$500M and expects H2 catch‑up), readiness to capture market opportunities while keeping utilization disciplined, and continued focus on synergies; Q2 context: consolidated recurring EBITDA $1.043B (24% margin), Brazil EBITDA $869M (+261% QoQ), US/Europe $147M, Mexico $57M, operating cash generation $385M, recurring cash gen ≈$210M, net cash consumption ≈$15M after Alagoas disbursements, Alagoas provision implemented BRL18.2B (BRL14.6B disbursed; balance BRL3.2B), relocation ~99.9% complete, and green PE sales +49% in Q2.

Strong Consolidated EBITDA and Margin

Consolidated recurring EBITDA of $1.043 billion in Q2 2026 with an EBITDA margin of 24%, a notable increase versus the prior quarter driven by materially wider international spreads.

Brazil Segment EBITDA Surge

Brazil segment recurring EBITDA reached $869 million, up 261% quarter-over-quarter, supported by approximately a 50%+ increase in resin and major chemical spreads and a $115 million (BRL 578 million) positive impact from PIS/COFINS feedstock credits under REIQ Insumos.

Significant Spread Improvements Captured

International spreads materially improved in Q2: average resin and main chemical spreads in Brazil/South America rose by ~82% and ~98% respectively; polypropylene spreads in the U.S./Europe increased ~28%; U.S. polyethylene spread was nearly 40% higher than the 2016–2025 average; Mexican polyethylene-ethane spreads rose ~73% — enabling attractive export netbacks and higher margins.

Cash Generation and Liquidity Results

Operating cash generation totaled $385 million; recurring cash generation was approximately $210 million. After Alagoas disbursements and lease-purchase payments, net cash consumption was modest at about $15 million for the quarter.

U.S. & Europe and Mexico EBITDA Contributions

U.S. & Europe recurring EBITDA was $147 million (improved quarter-over-quarter from stronger PP spreads). Mexico recurring EBITDA was $57 million, benefiting from higher international PE spreads despite lower utilization.

Green Products Momentum

Green ethylene utilization rose by 2 percentage points quarter-over-quarter and green polyethylene sales increased 49% in the quarter, supported by stronger commercial opportunities in Europe and renewal of a partnership with New Balance for bio-based EVA in footwear.

Progress on Alagoas Commitments

Relocation and compensation program reached ~99.9% completion; ~99.7% of compensation proposals accepted and paid. Total provision implemented of ~BRL 18.2 billion, of which ~BRL 14.6 billion was disbursed; provision balance was BRL 3.2 billion at quarter end, showing active fulfillment of commitments.

Operational Agility and Commercial Capture

Management highlighted the company's ability to capture short-term export and market opportunities created by the Middle East supply disruption and adjust production and commercial strategies quickly to capture value.

BR:BRKM3 Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 12, 2026	2026 (Q3)	-0.03 / -	0.76	―
Aug 13, 2026	2026 (Q2)	3.10 / 4.14	-0.415	1098.31% (+4.56)
May 13, 2026	2026 (Q1)	0.50 / 1.81	0.87	108.16% (+0.94)
Mar 26, 2026	2025 (Q4)	-2.65 / -12.90	-7.09	-81.96% (-5.81)
Nov 10, 2025	2025 (Q3)	-1.56 / 0.76	-0.741	202.56% (+1.50)
Aug 06, 2025	2025 (Q2)	-1.65 / -0.41	-4.688	91.15% (+4.27)
May 09, 2025	2025 (Q1)	1.39 / 0.87	-1.688	151.54% (+2.56)
Feb 27, 2025	2024 (Q4)	-2.52 / -7.09	-1.98	-258.08% (-5.11)
Nov 07, 2024	2024 (Q3)	-0.48 / -0.74	-3.034	75.58% (+2.29)
Aug 08, 2024	2024 (Q2)	-2.90 / -4.69	-0.967	-384.80% (-3.72)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed