BrasilAgro

LND

Market cap $377M

BrasilAgro (LND) reported weak 3Q26 results, reflecting bottom-cycle profitability amid falling crop prices and rising input costs. LND's revenues and adjusted EBITDA declined sharply, with negative R$30 million EBITDA and a 26% YoY revenue drop driven by lower fair value and volumes. Management warns of elevated input costs, challenging climate risks (El Niño), and potential cash flow strain for the next planting season.

Brasilagro Cia Brasileira De Propriedades Agricolas NYSE: LND reported a weaker first nine-month period as lower commodity margins, sugarcane volume pressure and higher financial expenses weighed on results, while management emphasized the company's land liquidity, hedging position and efforts to control input costs.

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) Q3 2026 Earnings Call Transcript

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BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) Q2 2026 Earnings Call Transcript

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas ( LND ) Q1 2026 Earnings Call November 7, 2025 8:00 AM EST Company Participants Ana Paula Zerbinati Gama - Investor Relations Manager & Institute Director André Guillaumon - CEO & Member of Board of Executive Officers Gustavo Lopez - CFO, Investor Relations Officer & Member of Board of Executive Officers Conference Call Participants Pedro Fonseca Presentation Ana Paula Zerbinati Gama Investor Relations Manager & Institute Director Hello. Good morning.

BrasilAgro posted 4Q25 results, showing continued operational losses excluding land sales amid a tough agricultural cycle. FY26 outlook remains challenging for LND, with crop prices still low and input costs on the rise, complicating profitability. Despite short-term uncertainty, a long-term cyclical perspective does not reveal an attractive opportunity in LND shares.

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (NYSE:LND ) Q4 2025 Earnings Call September 4, 2025 9:00 AM EDT Company Participants Ana Paula Zerbinati Gama - Investor Relations Manager & Institute Director André Guillaumon - CEO & Member of Board of Executive Officers Gustavo Lopez - CFO, Investor Relations Officer & Member of Board of Executive Officers Conference Call Participants Thiago Duarte - Banco BTG Pactual S.A., Research Division Pedro Fonseca Presentation Ana Paula Zerbinati Gama Investor Relations Manager & Institute Director Good morning, everyone.

I reiterate my buy recommendation on BrasilAgro despite weak Q4 results, citing a 26.5% upside based on my DCF valuation. The company's unique model—improving and selling farmland—remains resilient, with management projecting crop recovery and operational improvement in the coming quarters. LND's position in the perennial, globally competitive Brazilian agribusiness sector and attractive valuation support a favorable long-term risk-return profile.

BrasilAgro is a financially healthy Brazilian agriculture company with industry-leading margins that has historically been a solid compounder. The stock is currently fairly valued as its growth potential is balanced by a high degree of volatility from commodity prices and currency fluctuations. The company's performance is heavily influenced by a combination of Brazilian politics, interest rates, exchange rates and China's demand for agricultural exports.