PR Newswire·Nov 11, 2026, 6:06 PM ET

Minerva Foods Reports Net Revenue of R$56.2 Billion in 12 Months

Minerva S.A. reported net revenue of R$14.5 billion for 3Q26, a 3.0% increase from 2Q26, while 12-month net revenue grew 9.5% to R$56.2 billion.
Gross margin improved to 17.1% in 3Q26, driven by higher beef prices despite a 24% year-over-year rise in cattle slaughter costs.
Quarterly EBITDA was R$1.2 billion with an 8.3% margin, down 13.6% from 3Q25, while 12-month EBITDA reached R$4.7 billion, up 2.7%.
The company posted a net loss of R$717.3 million for 3Q26 due to a R$1.6 billion negative financial result, narrowing the 12-month loss by 56.7% to R$348.2 million.
Net leverage stood at 3.2x at the end of September 2026, with R$13.9 billion in cash available to cover debt amortization through 2029.
Year-to-date, Minerva repurchased and cancelled approximately US$234.6 million of international bonds, including the 2028 Bond, plus R$66.2 million of local debt securities.
Gross revenue growth was driven by Paraguay (up 50.5% year over year), Argentina (up 44.0%), Australia (up 25.0%), and Colombia (up 27.0%).
Brazilian operations saw gross revenue decline 19.0% year over year to R$8.1 billion, reflecting lower cattle availability and reduced shipments to China following quota exhaustion.