Vittia (VITT3) Q3 2026 earnings summary

Executive summary

• Q3 2026 net revenue was R$281,731 thousand vs. R$324,954 thousand YoY; reported net income was R$34,045 thousand vs. R$39,434 thousand.

• 9M 2026 net revenue was R$517,693 thousand vs. R$561,834 thousand; income before net finance and taxes was R$6,244 thousand vs. R$16,526 thousand.

• 3Q26 adjusted net income was R$39.2 million, reversing the adjusted H1 loss; 9M26 adjusted net income was R$15.8 million.

• Deloitte’s review found no matter indicating material inconsistency with CPC 21 (R1), IAS 34 or CVM requirements; the review was not an audit.

Financial highlights

• Q3 gross profit was R$93,239 thousand vs. R$104,756 thousand YoY; gross margin was 33.1%, up 0.9 p.p. YoY. 9M gross profit was R$146,089 thousand vs. R$160,929 thousand.

• Q3 income before net finance and taxes was R$44,343 thousand vs. R$49,210 thousand; 9M reported net income was R$9.6 million vs. R$16.3 million, while adjusted net income was R$15.8 million.

• Adjusted EBITDA was R$68.3 million in Q3, with a 24.2% margin; 9M adjusted EBITDA was R$50.8 million, with a 9.8% margin.

• 9M adjusted SG&A was R$132.1 million, up 2.5% nominally YoY and equal to 25.5% of revenue, up 2.6 p.p.

• 9M consolidated operating cash flow was R$60,202 thousand vs. R$106,087 thousand.

Outlook and guidance

• Sales are seasonally weighted to H2, while H1 typically has lower volumes during the off-season for key crops.

• Q4 2026 and 2026/27 priorities include monitoring credit, commodity prices, weather and input sales while maintaining financial discipline.

• Plans include continued investment in biological technologies and specialty plant nutrition; 2026 CAPEX priorities include production flexibility and capacity. Inoculants capacity expanded by 1.92 million doses/month.

• Management expects compliance with debt covenants within 12 months of the reporting date; covenant tests are annual at Dec. 31.