Boa Safra stock reports 56 percent gross margin in Q2 2026

Published on 09/30/2026 at 19:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Boa Safra stock enters the second half with a 56 percent gross margin in Q2 2026 and a R$ 1.804 billion order book. Citi raised its target to R$ 7.50.

Boa Safra, BRSOJAACNOR8, Illustration mit AI erstellt.

Boa Safra stock is backed by a 56 percent gross margin in the second quarter of 2026, while the company increased net revenue 23.1 percent year over year to R$ 124.68 million. The figures frame the central test for the seed producer: converting a record order book into second-half sales.

Margin improves in Q2 2026

According to TraderNews on September 18, 2026, Boa Safra reported second-quarter revenue of R$ 124.68 million, compared with R$ 101.25 million in the comparable period. Gross profit reached R$ 69.69 million versus R$ 38.17 million, lifting gross margin from 38 percent to 56 percent.

The improvement came as the company completed production for the 2025/26 seed crop. Adjusted EBITDA rose to R$ 27.70 million from R$ 4.59 million in the comparable period, but the financial result remained negative at R$ 38.28 million, keeping earnings quality in focus.

Order book reaches R$ 1.804 billion

Boa Safra's order book stood at R$ 1.804 billion on June 30, 2026, up 4 percent from R$ 1.727 billion in the comparable base, while seed inventories totaled R$ 622 million, according to TraderNews. The order book is the key operating checkpoint because the second half typically carries the company's highest sales concentration.

Credit remains a measurable counterweight. Money Times reported on September 1, 2026, that overdue receivables had increased 188 percent year over year and expected-loss provisions had risen 86 percent. The same report said Boa Safra had collected R$ 99 million of R$ 213 million in overdue receivables after the second quarter.

Citi lifts target to R$ 7.50

As Money Times reported on September 1, 2026, Citi raised its Boa Safra price target from R$ 6.90 to R$ 7.50 and kept a neutral recommendation. The bank cited tighter seed supply and potential margin improvement, while pointing to leverage and demand uncertainty.

Boa Safra is scheduled to publish third-quarter 2026 results on November 11, 2026, according to TraderNews. That release should show whether the R$ 1.804 billion order book is translating into revenue, margin and cash flow.

Market value reaches R$ 1.1 billion

Boa Safra had a market capitalization of R$ 1.1 billion as of September 29, 2026, on the B3. Its business centers on certified seed production and wholesale distribution, with operations spanning soybean, corn and other agricultural seeds.