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Adecoagro S.A.: Adjusted EBITDA reached $471.8 million in 9M26, reaching an all-time high for a nine-month period. Monthly records set for urea and ammonia production and strong cane productivity.

  • Adecoagro S.A. announced third-quarter 2026 results on November 11, 2026, with consolidated financials prepared in US dollars under IFRS.
  • Fertilizers business outperformed year-over-year driven by strong urea sales & volumes.
  • Food & Agriculture results rebounded significantly due to higher UHT milk prices & improved dairy operations in the domestic market.
  • Sugar, Ethanol & Energy segment saw continued sugarcane productivity strength despite a 5.1% quarterly crushing decline caused by above-average rainfall.
  • Adjusted Net Income decreased year-over-year for both 3Q26 & 9M26 primarily due to higher interest expenses from Fertilizers acquisition debt & increased income taxes.
  • Net Debt/LTM Adj. EBITDA ratio stood at 3.2x on a pro forma basis.
  • Sugar, Ethanol & Energy Adjusted EBITDA was $101.1 million for 3Q26 (down 16.0% YoY) & $195.0 million for 9M26 (down 10.7% YoY).
  • Year-to-date crushing in Sugar, Ethanol & Energy reached 10.4 million tons, a 5.9% increase year-over-year.
  • Cost of production for Sugar, Ethanol & Energy rose to 9.2 cts/lb in 9M26 due to Brazilian real appreciation.
  • Fertilizers Adjusted EBITDA was $109.3 million for 3Q26 (up 7.4% pro forma YoY) & $283.1 million for 9M26 (up 64.9% pro forma YoY).
  • Fertilizers urea sales increased 16.0% in 3Q26 & 25.0% year-to-date, supported by a 30.8% volume rise & higher prices.
  • Food & Agriculture Adjusted EBITDA reached $12.6 million in 3Q26 compared to $1.5 million in 3Q25.
  • Food & Agriculture achieved record quarterly cow productivity of 41 liters/cow/day in October.
  • Adecoagro expects record crushing in 2026 with mid-double-digit growth vs. 2025.
  • 100% of 2026 sugar production is hedged at an average of 16.5 cts/lb.
  • Adecoagro anticipates a conference call on November 12, 2026, at 12 p.m. US EST to discuss results.
Company
Adecoagro S.A.
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Adecoagro S.A.