Natura
August 10, 2026
SAO PAULO, Brazil -- August 10, 2026
Natura reported second-quarter 2026 revenue of 5.2 billion Brazilian reais, saying Brazil was pressured by product unavailability, temporary tax mismatches and a subdued consumption environment, while Hispanic America grew 7.2% in constant currency.
Consolidated EBITDA was 620 million reais with a 12.0% margin, up 470 basis points sequentially, or 13.2% excluding the tax mismatch impact. Free cash flow to firm was a positive 342 million reais, and leverage stood at 2.06 times. In Hispanic markets, Natura brand sales grew 12.3% and Avon grew 4.7%, with regional EBITDA margin of 7.6%, up 220 basis points year over year.
CEO Joao Paulo Ferreira said operational challenges stemmed from digital and logistics investments and channel realignment that caused greater product shortages than expected. The company said it no longer expects expansion versus 2025 for the adjusted margin while maintaining outlook for free cash flow to firm to exceed the prior year.