#Brazil #São Paulo #Minerva Foods #Cabaña Las Lilas #Estância 92

Minerva Foods Reports Impressive Financial Results

Minerva Foods has recently disclosed its financial outcomes for the third quarter of 2026, revealing a remarkable net revenue of R$14.5 billion, marking a 3.0% increase compared to the previous quarter. This upswing comes during a difficult period characterized by reduced cattle availability in Brazil and lower exports to China due to the exhaustion of Brazil's quota under China's safeguard measures. In total, the company's net revenue for the past twelve months reached R$56.2 billion, reflecting a solid growth of approximately 9.5% year-over-year.

The third quarter saw a gross margin rise to 17.1%, compared to 16.5% from the same timeframe last year and 16.6% from the previous quarter. Gross profit also reflected this trend, amounting to R$2.5 billion. Such progress can be attributed to rising beef prices that impacted both exports and domestic distribution, although the cost of ready-to-slaughter cattle surged by around 24% year-on-year, presenting challenges for the company.

In terms of profitability, Minerva reported an EBITDA of R$1.2 billion for the quarter, correlating to an 8.3% margin, which unfortunately showed a decline of 13.6% from the third quarter of 2025 and a 2.6% drop from the prior quarter. Over the past year, however, the EBITDA reached R$4.7 billion, which signifies a modest growth of 2.7%, retaining an 8.4% margin.

Despite these accomplishments, the company recorded a net loss of R$717.3 million in Q3 2026, contrasted with a net income of R$120.0 million in the same quarter last year. This outcome was heavily influenced by a negative financial result of R$1.6 billion. Nevertheless, it's noteworthy that the net loss for the previous twelve months decreased by 56.7%, amounting to R$348.2 million, down from R$803.9 million.

A closer look at revenue sources reveals significant growth driven by operations in Paraguay, which reported R$2.5 billion in gross revenue—an astonishing 50.5% increase year-over-year—as well as Argentina demonstrating a 44.0% increment with R$1.7 billion. Other contributors included Australia and Colombia, which registered increases of 25.0% and 27.0%, respectively. On the contrary, Brazilian operations faced a decline of 19.0%, yielding R$8.1 billion in gross revenue, primarily due to the aforementioned challenges.

Chief Executive Officer Fernando Galletti de Queiroz addressed the unique challenges faced by the company, stating, "We closed the first nine months of 2026 in a challenging market environment, marked by changes in international trade flows and by different stages of the global cattle cycle. In this context, Minerva Foods' geographic diversification and operational flexibility were essential to adapt our activities to supply and demand conditions and to preserve the competitiveness of the business."

Minerva Foods stands out as a leading entity in South America's beef export sector, also recognized as one of the largest global food companies, actively engaging in over 100 countries. The firm specializes in the production and marketing of beef, lamb, and their derivatives, striving to achieve a perfect blend of scale, geographic diversification, and operational excellence to meet varied market demands. The company's portfolio boasts esteemed brands such as Cabaña Las Lilas, Estância 92, and Pul, as well as a diverse range of operations, including biodiesel, casings, energy, ingredients, leather, and eco-initiatives like MyCarbon.

To further bolster its competitiveness, Minerva continues to invest in operational efficiency and traceability, enhancing its commitment to sustainability and responsible food production. With more than 40,000 employees and a robust operational presence across Argentina, Australia, Brazil, Chile, Colombia, Paraguay, and Uruguay, Minerva Foods remains at the forefront of the industry, poised for continued growth and adaptation in an ever-evolving market landscape.