BrasilAgro stock returns to profit as farmland sale lifts earnings
Published on 11/05/2026 at 01:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSProfit Rebound Masks Agricultural Pressure
- BrasilAgro returned to profit in the first quarter of crop year 2026/27 after a loss in the year-earlier period.
- The Bahia land sale strengthened earnings while soybean and corn margins weakened.
- Adjusted net debt declined from June, but operating profitability remained under pressure.
BrasilAgro returned to profit in the first quarter of crop year 2026/27, as a Bahia farmland sale offset weaker agricultural margins. The company reported the result for the quarter ended September 30, according to UOL.
Net income reached R$81.3 million, compared with a R$64.3 million loss in the same period of the previous crop year. Total net revenue rose 16 percent to R$351.7 million, while total adjusted EBITDA increased 47 percent to R$94.6 million.
Land Sale Drives Earnings Rebound
The sale of 2,593 hectares of the Rio do Meio farm in Correntina, Bahia, generated a R$50.8 million gain. The transaction was the main earnings catalyst, while the revaluation of receivables linked to property sales also supported the financial result.
Underlying agricultural operations were weaker. Operating revenue, excluding farmland sales, fell 1 percent to R$300.9 million, and operating adjusted EBITDA declined 32 percent to R$43.8 million. The company attributed much of the decline to a swing in derivatives results, alongside higher operating expenses and weaker soybean and corn margins.
Crop Margins Remain Under Pressure
Soybean revenue fell 7 percent to R$112.1 million as billed volume declined 13 percent. The average price rose 7 percent, but cost per ton increased 13 percent. Corn revenue almost tripled to R$55.2 million as sales volume increased, yet its gross margin fell sharply under higher costs and a lower average price.
Sugarcane revenue declined 10 percent to R$116.3 million, although its gross margin improved. Cotton revenue fell 50 percent to R$8.3 million, with the gross margin remaining negative.
Debt Falls Ahead Of Dividend
Adjusted net debt fell 51 percent from June to R$136.3 million, equivalent to 1.05 times trailing twelve-month adjusted EBITDA. BrasilAgro also ended September with R$626.2 million in receivables from property sales. A R$30 million dividend, equal to R$0.3012 per share, is scheduled for payment on November 16.
BrasilAgro Earnings Snapshot
- Company: BrasilAgro - Companhia Brasileira de Propriedades Agrícolas
- ISIN: BRAGROACNOR7
- Reporting period: First quarter of crop year 2026/27, ended September 30, 2026
- Net income: R$81.3 million
- Total net revenue: R$351.7 million
- Total adjusted EBITDA: R$94.6 million
- Adjusted net debt: R$136.3 million at September 30, 2026
Brazilian equities remain linked to developments in the Bovespa and the country's agricultural and currency outlook.
