In brief

Natura earned R$ 49 million in 3Q26 after a billion-real loss a year earlier.

Revenue, however, fell 3%.

What we know

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  1. Verified fact · material

    Natura posted net income of R$ 49 million in 3Q26, reversing a nearly R$ 2 billion loss in 3Q25.

    Return to profit.

  2. Verified fact · material

    Net revenue was about R$ 5 billion, down 3%.

    Lower sales.

  3. Verified fact

    Recurring Ebitda was R$ 460 million, down 20.2%, according to CNN.

    Lower margin.

    Sources[02]
  4. Verified fact

    Exame reports a 9% drop in Brazil revenue to R$ 2.92 billion and leverage of 1.83 times.

    Weak domestic market.

    Sources[03]

Transmission to assets

Market read-through

The small profit does not offset weaker sales in Brazil.

Portfolio impact

01
NATU3mixed

Profit with lower revenue.

Mixed effect.

What would change the view: Sales recovery.

direct30% confidence

Direction is an explanatory hypothesis, not a forecast or recommendation.

Next signals

What to watch

  • Brazil sales
  • Ebitda margin

Limits of the reporting

What remains uncertain

  • The annual comparison includes Avon restructuring effects.

Full sources

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