Homebuilder Tenda reported a consolidated net profit of R$ 179 million for the second quarter on Tuesday, beating market expectations despite a 12.2% decline from the same period in 2025. Data from LSEG showed analysts had expected an average net profit of R$ 134.5 million for the company, which focuses on the low-income segment.
Adjusted Ebitda reached R$ 275.2 million, up 65% from a year earlier and above average market forecasts of R$ 213 million. Net revenue rose 30.1% year-on-year to R$ 1.29 billion, surpassing the analyst consensus of R$ 1.24 billion. The company had a net margin of 13.9% in the second quarter compared to 20.6% in the second quarter of 2025.
Consolidated launches reached R$ 1.77 billion in the second quarter, up 59.1% year-on-year, while net sales rose 17.2% to R$ 1.40 billion. The builder recorded consolidated operational cash generation of R$ 52.5 million.
Full-Year Forecasts
Tenda raised its projections for the year following robust results in the first half of 2026 and a more benign inflation outlook. Adjusted Ebitda guidance for the Tenda segment moved from between R$ 950 million and R$ 1.05 billion to between R$ 1.1 billion and R$ 1.2 billion.
Estimated net sales for the Tenda segment increased from between R$ 5 billion and R$ 5.5 billion to between R$ 5.5 billion and R$ 6 billion. The group also revised its expectation for consolidated net result this year from between R$ 520 million and R$ 600 million to between R$ 600 million and R$ 660 million.
