BrasilAgro Cia Brasileira de Propriedades Agricolas (52BA) Q4 2026 Earnings Report
DE:52BA Q4 2026 EPS Results
- Actual EPS
- -EUR 0.02
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- EUR 0.10
DE:52BA Q4 2026 Revenue Results
- Actual Revenue
- EUR 44.81M
- Expected Revenue
- ―
- Beat/Miss
- ―
- YoY Revenue Growth
- +27.99%
Earnings Announcement Details
- Quarter
- Q4 2026
- Date
- 09/03/2026
- Time
- TBA
- Conference Call
- Thursday, September 3, 2026
Q4 2026 Earnings Call Audio
Q4 2026 Earnings Slide Deck
Q4 2026 Earnings Call Summary
The call was cautiously optimistic. Management acknowledged a difficult year marked by a BRL 90 million loss, lower sugarcane and cotton performance, higher financial expenses, weather disruptions and elevated capital costs. However, these challenges were balanced by strong soy and corn productivity, disciplined cost and currency management, land-portfolio value creation, an improving sugarcane outlook, planned debt reduction and confidence in improved results in the next harvest.
Management said they “should expect a recovery in these numbers” and a “positive harvest situation,” with “significant sale impacts” next year that would “bring stability to our operational results from a recurring manner”; sugarcane harvesting was expected to finish “by November 30th or even a little before,” with “BRL 625 million, about 40 something” considered in the first part, while cost expectations were “incrementing marginally” and costs had been stabilized; the company expected to perform farm sales “in the next period,” could be “more of a buyer,” and said it was “not going to sell BRL 2 billion in the next five unless we have a major acquisition”; it also expected to reduce debt, including finishing with “BRL 160 million, BRL 150 million less in debt,” after an investment of “about BRL 300 million, BRL 400 million” and resuming “about BRL 200 million and some,” while CapEx was being reduced from “about BRL 150 million per year”; the proposed dividend was “about $0.30 per share,” representing “BRL 30 million” in reserves.
- Record Harvest Area and Substantial Land PortfolioBrasilAgro reported an all-time-high harvest of 167,000 hectares planted and a portfolio value of BRL 3.1 billion, later described as approximately BRL 3.34 billion after land appreciation and portfolio changes.
- Land Transformation Continued to Create ValueManagement said portfolio value benefited from regional diversification, land appreciation, area maturity and the cancellation of a customer transaction that returned unpaid land to BrasilAgro. Area maturity generated almost BRL 95 million of value, and the company expects to announce new business opportunities.
- Soy and Corn Production GrowthSoy production increased 19%, primarily due to higher productivity, while corn production increased 30% with higher productivity and slightly less planted area. Total production increased from approximately 360,000 tons to 416,000 tons.
- Improved Productivity in Beans and CottonThe company reduced its bean area by 70% because it considered the crop too risky for capital allocation, while still increasing bean productivity by almost 40%. Cotton productivity increased by almost 50% year-over-year after a significant reduction in area and the reduction of the off-season harvest.
- Strong Soy Economics and Forward PositioningSoy generated BRL 109 million of results, supported by higher volume, productivity, favorable currency positions and a lower cost per ton. Management said soy prices for the next harvest had already been locked in above $12, compared with $11 in the prior harvest, representing more than 10% higher pricing.
- Effective Currency and Commodity HedgingBrasilAgro closed the harvest with the U.S. dollar at BRL 5.72, Chicago soy at 1094, cotton currency positions at BRL 6.75, and soy receivables at BRL 5.57. For the next harvest, soy was cited at $12.02 with the dollar at BRL 5.57, cotton at 74.23 with the dollar at BRL 5.92, and receivables at BRL 5.54.
- Cost Management and Internal Seed ProductionManagement said the cost base increased only slightly year-over-year. Soy cost per hectare was expected to increase by about 2%, or approximately BRL 100 and some reais per hectare. The company increased its own seed production at the Chaparral unit from about 1.5 million to almost 3 million, contributing to cost management.
- Fertilizer Purchasing DisciplineMAP prices increased from approximately BRL 580-BRL 600 per ton during the prior harvest to around BRL 800-BRL 850 per ton, with management citing low sulfur availability. Approximately 70% of summer-harvest fertilizer purchases had already been completed, while the company was waiting on some second-harvest purchases to avoid anticipating purchases when prices were moving sideways and the cost of capital was about 14%.
- Positive Sugarcane Harvest OutlookMore than 50% of the sugarcane harvest had been completed with strong adherence between projected and harvested volumes. Management said the current harvest was progressing positively, with the Northeast expected to finish by November 30 or slightly earlier and the Midwest performing well.
- Improved Operational EBITDA in Soy and CornOperational EBITDA was described as behaving similarly to the prior year, while soy and corn performed positively through higher tons, margins, productivity and costs that were similar to prior pricing assumptions. Corn benefited from increased planted area and sales opportunities with ethanol companies.
- Farm Sales and Capital Allocation StrategyThe company reiterated its strategy of buying, transforming and selling land. Management said BrasilAgro expects to perform land sales in the next period, remain active in potential acquisitions and work with financial groups on opportunities involving liquidity and solvency for creditors.
- Debt Reduction FocusBrasilAgro reported debt of BRL 1.2 billion and receivables of BRL 500 million. Management said receivables would be used to reduce debt, the company intended to pay its CRA financial instrument rather than renew that debt instrument, and the company expected to finish with approximately BRL 150 million to BRL 160 million less debt.
- Long-Term Platform and Shareholder Base ExpansionBrasilAgro marked its 20th anniversary, reported more than 320,000 hectares over its history, more than BRL 2 billion in land sales, more than BRL 1 billion in dividends paid and over 500 employees working on farms. Management said the individual shareholder base grew from approximately 5,000 a decade ago to about 138,000 and later approximately 150,000.
- Share Repurchases and Dividend CommitmentManagement said the company had already repurchased 10% of its shares and proposed paying approximately $0.30 per share in dividends from reserves, describing the payment as a commitment and a signal of recurring shareholder value creation.
DE:52BA Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Nov 03, 2026 | 2027 (Q1) | ―- | -0.11 | ― | |
| Sep 03, 2026 | 2026 (Q4) | ―-0.02 | 0.1 | -125.93% (-0.12) | |
| May 07, 2026 | 2026 (Q3) | ―-0.02 | 0 | -1250.00% (-0.02) | |
| Feb 05, 2026 | 2026 (Q2) | ―0.00 | -0.03 | 114.71% (+0.03) | |
| Nov 06, 2025 | 2026 (Q1) | ―-0.11 | 0.16 | -167.05% (-0.26) | |
| Sep 03, 2025 | 2025 (Q4) | ―0.10 | 0.4 | -75.95% (-0.30) | |
| May 13, 2025 | 2025 (Q3) | ―-0.00 | -0.05 | 96.72% (+0.05) | |
| Feb 06, 2025 | 2025 (Q2) | ―-0.03 | -0.01 | -183.33% (-0.02) | |
| Nov 06, 2024 | 2025 (Q1) | ―0.16 | 0.06 | 183.87% (+0.10) | |
| Sep 03, 2024 | 2024 (Q4) | ―0.40 | 0.44 | -9.48% (-0.04) |
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.
