BRBI BR Partners (BRBI11) Q1 2026 earnings summary

Executive summary

• Demonstrated operational resilience amid challenging geopolitical and macroeconomic conditions in 1Q26, with revenue growth and stable business lines.

• Maintained diversified activity in Investment Banking, Capital Markets, Treasury Sales & Structuring, Wealth Management, and Financial Advisory, with notable transaction volumes and continued expansion.

• Continued investment in talent, especially at junior and mid-levels, to support long-term growth.

• Global disinflation continued at a gradual pace, with Brazil initiating a monetary easing cycle due to improved inflation dynamics.

Financial highlights

• Total revenue reached R$134.8 million, up 2.7% sequentially and 5.7% year-over-year.

• Net income was R$37.7 million, down 15.3% sequentially and 12.5% year-over-year.

• Client revenues were R$106.7 million, increasing 0.9% from 4Q25 and 7.7% from 1Q25.

• ROAE stood at 19.1% for 1Q26.

• Dividend payout of R$0.18 per unit, totaling R$18.9 million (50% payout ratio).

Outlook and guidance

• Continued focus on diversifying into non-cyclical verticals to reduce business volatility.

• Ongoing investment in people and internal promotions to support long-term growth.

• M&A activity shows signs of recovery, but execution risks have increased due to macroeconomic instability and persistent high interest rates.

• The monetary easing cycle in Brazil is expected to be gradual and more restrictive than initially anticipated, reflecting persistent core inflation and fiscal uncertainties.

• The company intends to distribute dividends above the mandatory minimum, depending on annual profit calculations.