Suzano S.A. Q1 2026 Earnings Release

Suzano S.A. reported its first quarter 2026 results, showing solid operating performance in the pulp market with price increases driven by stronger paper demand. However, Adjusted EBITDA was impacted by a stronger Brazilian Real (BRL). Pulp sales volume increased by 7% year-over-year to 2,835 thousand tonnes, while paper sales volume decreased by 3% to 378 thousand tonnes. Adjusted EBITDA for the quarter was R$4.6 billion, a decrease of 6% compared to the first quarter of 2025, attributed mainly to the depreciation of the US dollar against the BRL and lower average paper prices. Pulp production cash costs declined by 7% year-over-year. Net debt stood at R$68.1 billion (US$13.0 billion), with leverage at 3.3x in US$. The company also highlighted progress in its sustainability strategy, with an upgrade in its ESG rating by MSCI to BBB.