Cury Construtora e Incorporadora (CURY3) Q2 2026 earnings summary

Executive summary

• Achieved record net revenue of R$1.7 billion in 2Q26, up 25.5% year-over-year, and R$3.3 billion in 6M26, up 28.9% year-over-year.

• Net income attributable to shareholders reached R$270.5 million in 2Q26 (+14.3% YoY), with some sources reporting R$311.2 million (+16.5% YoY); 6M26 net income was R$662.4 million, up 32.3%.

• Adjusted gross margin remained strong at 39.8% in 2Q26, flat versus 2Q25.

• ROE reached 73.6% in 2Q26, up 3.5 p.p. year-over-year.

• 29th consecutive quarter of positive cash generation, with R$144.9 million in 2Q26.

Financial highlights

• Gross profit for 2Q26 was R$668.4 million (+25.5% YoY), with a gross margin of 39.5%.

• EBITDA for 2Q26 was R$387.0 million (+19.8% YoY), with an EBITDA margin of 22.9%.

• Net margin for 2Q26 ranged from 16.0% to 18.4% depending on source; 6M26 net margin was up to 20.1%.

• Cash and cash equivalents stood at R$1,633.7 million, with net cash of R$290.6 million as of June 30, 2026.

• Dividend distributions in the last twelve months reached R$1,323 million, up 90.6% year-over-year.

Outlook and guidance

• Management remains focused on disciplined execution, margin protection, and strong cash generation amid macroeconomic uncertainty.

• Landbank expanded to R$26.1 billion in potential PSV, up 23.6% year-over-year, supporting future growth.

• Continued commitment to shareholder returns, with an additional R$190 million in dividends announced in August 2026.

• Monitoring potential impacts of Brazil's tax reform, with no accounting adjustments recognized yet.

• Ongoing ESG initiatives, including the publication of a new Sustainability Report and website.