Brasilagro Cia Brasileira De Propriedades Agricolas (LND) reported strong first-quarter earnings for its 2026-2027 harvest year, with net income reaching BRL 81 million and adjusted EBITDA at BRL 95 million. The results were boosted by a farm sale that generated approximately BRL 51 million in net income and an internal rate of return of 26% in reais. CEO André Guillaumon highlighted that the property was acquired in a 2021 transaction involving Agrifirma and indicated the company would continue pursuing farm sales under attractive terms.
Chief Financial Officer Gustavo Lopez noted that the quarter included approximately BRL 50 million from farm sales and a positive BRL 37 million financial result. He attributed the financial result to measures taken to lock in farm-sale receivables as soybean prices rose. Guillaumon added that net debt to EBITDA, including farm-sale receivables, stood at approximately 1.05 times. The company plans to reduce short-term debt by BRL 150 million over the next six to eight months using some farm-sale receivables.
Guillaumon provided an update on planting progress, stating that roughly 93% to 94% of the planned area in Mato Grosso had been planted, while overall planting across the company’s regions was 68% complete. He also mentioned that BrasilAgro had sold 57% of its future soybean production and used favorable exchange ratios to purchase fertilizer and manage costs amid significant volatility. Lopez reported that the company had sold 54,000 tons of soybeans and 70,000 tons of corn, with remaining inventory still to be sold.
Looking ahead, Guillaumon expressed optimism about gross margins recovering as selling prices improved relative to production costs. He also highlighted operating efficiencies from telemetry, which had reduced diesel consumption and helped managers identify field problems. The company remains focused on debt reduction while continuing to pay dividends, with a payment scheduled for November 16.