Revenue from the 100% controlled businesses (Energy, Mining, Pulp and Consumer Goods) grew 77%, driven by the expansion of the Âmbar Energia and Lhg Mining operations
J&F S.A., one of the largest private conglomerates in the world, announces its financial results for the first quarter of 2026 (1Q26). The company ended the period with consolidated net revenue of R$119.6 billion, an increase of 1.8% compared to the first quarter of the previous year. Consolidated adjusted EBITDA totaled R$7.8 billion.
Revenue growth in the period was driven by positive performance on diversified business fronts, with emphasis on Âmbar Energia, whose revenue jumped 186.8% (to R$2.3 billion) after the integration of new assets, and Lhg Mining, which recorded a 196.4% increase in net revenue (to R$1.5 billion).
In addition to the expansion in sales, the company demonstrated an evolution in efficiency: Eldorado Brasil reached a historical record production for a first quarter, with 457 thousand tons and a cash cost of R$ 680 per ton, the lowest level in two years.
Together, the Energy, Mining, Pulp and Consumer Goods business units had a 77% increase in revenue compared to 1Q25, reaching R$ 6.0 billion. “The quarter’s performance reflects the robustness of the conglomerate, in which diversification allows it to balance sectoral cycles and capture value in areas vital to the economy, such as energy and mining,” says Aguinaldo Filho, president of J&F S.A.
J&F S.A. ends the quarter with a return on capital employed (ROIC) of 17.8% and financial leverage of 2.9x (net debt to EBITDA), within the optimal level that is below 3x. “The consolidation of J&F S.A. as an operating company with centralized financial management brings more stability to cash generation and efficiency in capital allocation,” said Fernando Storchi, CFO of J&F S.A.
