Key Takeaways
- For the trailing 12 months ended June 30, 2026, Minerva Foods logged a record R$57.2 billion in net revenue, a 29.1% jump from the prior 12-month period.
- Net revenue for the second quarter of 2026 came in at R$14.1 billion, up 1.3% year-over-year and 5.2% above the first quarter of 2026.
- EBITDA over the trailing 12 months climbed 22.1% to R$4.9 billion, an 8.6% margin, while second-quarter EBITDA hit R$1.2 billion at an 8.7% margin.
- Quarter over quarter, net income more than doubled, rising to R$196.9 million in the second quarter from R$87.3 million in the first.
- Net leverage dropped to 2.9x net debt over trailing 12-month adjusted EBITDA, down from 3.2x a year prior, following the repurchase of US$232.9 million in bonds and the issuance of US$600 million in new 2036 notes.
Minerva Foods Reports Record Net Revenue for the Trailing 12 Months
Minerva Foods (Minerva S.A., BM&FBOVESPA: BEEF3, OTC: MRVSY), the São Paulo-headquartered beef producer, said on Aug. 12, 2026 that it recorded net revenue of R$57.2 billion for the 12 months ended June 30, 2026 — a record for the company. The figure marks a 29.1% increase over the prior 12-month period, driven by stronger export volumes and pricing across its South American operations.
Second-Quarter 2026 Highlights
Second-quarter net revenue alone reached R$14.1 billion, up 1.3% from the same period last year and 5.2% above the first quarter of 2026. Gross revenue for the quarter totaled R$15.1 billion, with exports accounting for 57% of that figure. The company supplies beef and other proteins to buyers across more than 100 countries on five continents, operating production facilities in Brazil, Paraguay, Argentina, Uruguay, Colombia, Chile and Australia.
Minerva Foods Narrows Leverage as Debt Costs Ease
Quarterly EBITDA came to R$1.2 billion, an 8.7% margin and a 10% increase from the first quarter of 2026. Over the trailing 12 months, EBITDA rose 22.1% year-over-year to R$4.9 billion, for an 8.6% margin. Net leverage — net debt divided by trailing 12-month adjusted EBITDA — declined to 2.9x by the end of June 2026, down from 3.2x a year earlier.
In the first half of 2026, Minerva Foods repurchased US$232.9 million of its bonds and redeemed US$166.0 million tied to its 2028 notes, bringing total repurchases since early 2025 to US$617.7 million. The company also issued US$600 million in new bonds maturing in 2036, with demand for the offering running 2.5 times oversubscribed.
Net Income Doubles Quarter Over Quarter
Net income for the second quarter came to R$196.9 million, more than double the R$87.3 million recorded in the first quarter of 2026. First-half net income totaled R$284.2 million, while the trailing 12-month figure reached R$489.2 million. The company’s shares trade on Brazil’s B3 exchange, with ADRs available on the OTC market.
