Record Adjusted EBITDA at $172.5 million in 2Q26 and $258.3 million in 6M26. Higher urea production, stronger cane availability and ethanol maximization.
Adecoagro reported record Adjusted EBITDA of $172.5 million for 2Q26 and $258.3 million for 6M26, fueled by strong performance in its Fertilizers segment. The Fertilizers segment saw Adjusted EBITDA more than double year-over-year in 2Q26, driven by higher urea production and significantly improved pricing ($699/ton vs $444/ton in 2025). Leverage improved to 3.0x Net Debt/LTM Adj.
Key figures
- Guidance
- Expecting strong 2026 Adjusted EBITDA exceeding prior years; 75% of sugar production hedged at 15.7 cts/lb.
- Urea price 2q26
- $699/ton
- Urea price 6m26
- $620/ton
- Ethanol mix 6m26
- 78%
- Urea price prior
- $444/ton
- Crushing volume 2q26
- 3.5 million tons
- Crushing volume 6m26
- 5.8 million tons
- Ebitda adjusted 2q26
- $172.5 million
- Ebitda adjusted 6m26
- $258.3 million
- Urea production 6m26
- 617 thousand tons
- Cost of production 6m26
- 10.4 cts/lb
- Ebitda fertilizers 2q26
- $121.2 million
- Ebitda fertilizers 6m26
- $173.8 million
- Net debt ltm adj ebitda
- 3.0x
- Ebitda sugar ethanol energy 2q26
- $53.2 million
- Ebitda sugar ethanol energy 6m26
- $93.8 million
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.