Minerva earned R$196.9 million (US$36 million) in Q2 2026, down 57%, as debt costs from the Marfrig deal bit even as revenue hit a record.
Minerva's Q2 profit fell 57% to $36M despite record $2.6B revenue; $1.5B Marfrig debt plus FX and rate headwinds crushed margins. M&A lesson: leverage in volatile cycles erodes gains if cash flow can't service debt.
Brazil · Business
Key Facts
—The profit Minerva earned R$196.9 million (about US$36 million) in Q2 2026, down 57% from a year earlier.
—The revenue Net revenue edged up 1.3% to R$14.1 billion (about US$2.6 billion), a quarterly record.
—The core Adjusted EBITDA slipped 5.5% to R$1.2 billion (about US$220 million), an 8.7% margin.
