MBRF, one of the largest global food companies, presented strong operational performance in the second quarter of 2026, with net revenue of R$ 40.7 billion, up 4.9% compared to the same period of the previous year, and growth in all business segments. Adjusted EBITDA totaled R$ 3.2 billion, a growth of 5.4%, with a margin of 7.9%, while sales volume grew, reaching 1.969 million tons, a record for a second quarter.
Even in the face of a challenging macroeconomic scenario, the company maintained its ability to generate results, with a net profit of R$ 69 million, supported by operational improvements, commercial expansion, and gains in synergy and efficiency in different markets. “The numbers presented reflect the solidity of our business model, the quality of execution by our teams, and the progress in integrating operations. We continue to strengthen our competitiveness through leading brands, global presence, broad distribution, and continuous efficiency gains, always focused on the sustainable generation of value,” says Marcos Molina, chairman of MBRF.
“The consistent progress in our results throughout the quarter, with operational and commercial improvements and synergy capture, reinforces our confidence and positions us to seize opportunities in the second half of the year,” says Miguel Gularte, CEO of MBRF.
Multiprotein platform with a global presence
In BRF’s operations, net revenue reached R$ 15.4 billion, while adjusted EBITDA grew 3.8%, with a margin of 16.8%, advancing both year-on-year and compared to the previous quarter.
In Brazil, sales volume grew 4.6% compared to the first quarter, driven by the expansion of the customer base and the maintenance of high service levels. The commercial integration enabled the expansion of the beef portfolio to more than 20,000 new points of sale, highlighting one of the main benefits and synergies of the multi-protein platform established in the business combination.
Abroad, the evolution of dollar prices for Brazilian exports and the acquisition of 34 new certifications broadened market access and value capture opportunities. In Turkey, profitability improved in the quarter, driven by increased consumption during the barbecue season and the performance of the processed product portfolio.
Sadia Halal achieves record profitability.
Sadia Halal ended the quarter with net revenue of US$590 million, a 16.6% increase compared to Q2 2025. Adjusted EBITDA reached US$95 million, a growth of 104.3%, while the adjusted EBITDA margin advanced 6.9 percentage points to 16.1%, a new record for the operation.
“With over 50 years of presence in the Middle East, we have a solid commercial platform and logistical expertise that have been fundamental in mitigating the operational challenges arising from the geopolitical context, ensuring supply and contributing to the food security of the region,” explains Fabio Mariano, CEO of Sadia Halal and Vice President of the Halal Market at MBRF.
Cattle operations advance in volume and revenue
In North America, sales volume grew 2%, from 468,000 to 477,000 tons, helping to mitigate the effects of lower cattle availability. Higher average carcass weights and firm demand kept prices high and boosted net revenue to US$3.748 billion, a 14.9% increase compared to US$3.263 billion in Q2 2025.
In South America, the expansion of production capacity, productivity gains, and strong demand for beef protein in foreign markets sustained growth in volumes and revenue. During the period, net revenue reached R$ 6.389 billion, a 26.4% increase compared to the same period of the previous year, while adjusted EBITDA advanced 22.1% to R$ 570 million.
Synergies, efficiency, and financial discipline
Business integration continued to progress as planned. In the second quarter, MBRF captured R$158 million in synergies, with progress in sales, supply chain, logistics, and corporate structure. Of particular note is the 13% year-over-year reduction in the company’s consolidated administrative expenses.
The MBRF+ program, which already encompasses the Beef South America and BRF segments, brings together initiatives for continuous improvement, productivity, and efficiency, generating R$ 328 million in the quarter and expanding the application of the methodology to the company’s different operations.
MBRF reported operating cash flow of R$2.2 billion in the second quarter, higher than the previous period. The company remains focused on improving cash conversion and disciplined working capital management. “In the second half of the year, we are concentrating our efforts on improving working capital indicators, focusing on inventory and accounts payable, with the goal of boosting the company’s cash generation,” says José Ignacio Scoseria, Vice President of Finance and Investor Relations at MBRF.
ESG and people
MBRF has been recognized with the Gold Seal of the Brazilian GHG Protocol Program, the highest certification awarded to companies that meet the criteria of excellence, transparency, and quality in the preparation and disclosure of their greenhouse gas emissions inventories.
The employee engagement survey, the first conducted after the merger, recorded a rate of 88%, four percentage points above the average for Brazilian companies and three points above the benchmark for high-performing organizations. The result highlights the strength of the culture and the high level of connection between employees and the company.
