Braskem (BRKM5) Q3 2026 earnings summary

Executive summary

• 3Q26 recurring EBITDA was US$382m, down 63% QoQ as spreads normalized; commercial volume gains partly cushioned the decline.

• 3Q net revenue was R$19.584bn, up 13% YoY, while consolidated net loss widened to R$1.2bn from R$174m.

• Operating cash generation was R$2.2bn; adjusted leverage ended at 6.36x.

• Material going-concern uncertainty persists amid negative equity, debt covenant issues, liquidity pressure and restructuring processes in Brazil and the U.S.

Financial highlights

• 3Q gross profit was R$2.003bn, down 62% QoQ; operating profit before financial result was R$626m.

• Net loss attributable to shareholders was R$1.068bn, versus R$3.325bn net income in 2Q26.

• 9M net revenue was R$56.787bn, up 4% YoY; net income attributable to shareholders was R$3.703bn versus R$405m.

• 9M recurring EBITDA was R$8.220bn, up 220% YoY.

• 9M consolidated financial results included R$3.629bn in net derivative and exchange gains, against R$5.118bn in financial expenses and R$732m in financial income.

Outlook and guidance

• 2026 corporate investment estimate, excluding Braskem Idesa and REIQ Investments, rose to US$496m from US$465m after launch of Operational Excellence 360°.

• 2026 Braskem Idesa investment plan was US$42m, mainly for maintenance and operation of the complex.

• No quantified earnings guidance was included; liquidity and capital-structure restoration initiatives remain priorities.