Over the 12-month period from April 2025 to March 2026, the company sold 12.7 million tonnes of pulp, the highest volume ever recorded in its history.
April 30, 2026 - Suzano announced its results for the first quarter of 2026, achieving a new all-time record in pulp sales. Over the 12-month period from April 2025 to March 2026, the company sold 12.7 million tonnes of pulp, the highest volume ever recorded in its history. During the same period, Suzano also sold 1.7 million tonnes of paper across the packaging, printing and writing, specialty, and tissue segments.
This unprecedented sales level mainly reflects the increase in production capacity following the start-up of the Ribas do Rio Pardo pulp mill in the state of Mato Grosso do Sul, as well as Suzano's strong operational efficiency across its production lines and supply chains, serving customers in more than 100 countries worldwide.
In the first quarter of 2026, Suzano sold a total of 3.2 million tonnes, comprising 2.8 million tonnes of pulp and 378 thousand tonnes of paper. Net revenue amounted to BRL 11.0 billion, while adjusted EBITDA reached BRL 4.6 billion. Net income totaled BRL 4.3 billion in 1Q26.
The quarterly results reflect the competitiveness and resilience of Suzano's operations. Operating cash generation reached BRL 2.5 billion, amid a more challenging macroeconomic environment marked by the appreciation of the Brazilian real against the U.S. dollar and ongoing geopolitical tensions in the Middle East. Pulp prices in U.S. dollars posted a slight recovery during the period.
"We have delivered a solid first quarter, with pulp prices trading above our expectations at the end of 2025," said Beto Abreu, CEO of Suzano. "The business remains fully focused on operational efficiency, cost discipline and deleveraging, pillars that provide resilience and will help to further strengthen our competitiveness in a challenging operating environment."
Potential impacts from geopolitical tensions in the Middle East on global oil prices represent a cost pressure for Suzano and the industry as a whole. However, the company maintains hedging policies to mitigate the effects of higher energy costs on its operations. In the first quarter, cash cost of pulp production, excluding downtime, totaled BRL 802 per tonne.
Suzano's net leverage in U.S. dollars ended March 2026 at 3.3 times. Net debt totaled USD 13.0 billion.
The pulp market experienced positive performance in the first quarter, with successive price increases driven by stronger paper demand, despite seasonality and geopolitical uncertainties. In this context, despite the price recovery during the period, the company's pulp business results compared to 4Q25 were impacted by lower sales volumes due to seasonality and by the depreciation of the US$ against the average R$. When compared to the same period of 2025, the company recorded higher sales volumes and increased pulp prices, which were offset by the strong currency appreciation. Cash production costs, excluding downtimes, performed in line with expectations, with a slight increase versus the previous quarter and no impact from the Middle East conflict.
On a year-over-year basis, cash production costs declined. This combination of factors resulted in a reduction in Pulp Adjusted EBITDA both quarter-over-quarter and year-over-year. In the paper business unit, sales volumes declined primarily due to seasonality versus 4Q25, while lower prices — also impacted by the stronger average R$ — affected results versus 1Q25, leading to a reduction in Adjusted EBITDA in both comparisons. As a result, consolidated Adjusted EBITDA for the quarter totaled R$4.6 billion, down 18% compared to 4Q25 and 6% versus the same period of 2025.
Operating cash flow generation reached R$2.5 billion in the quarter, representing a 31% decrease versus 4Q25 and a 4% decline year-over-year.
Suzano is the largest hardwood pulp producer in the world, operating eight pulp mills in Brazil with a combined production capacity of 13.5 million tons per year of pulp. Based in Brazil, the company also produces paper and tissue.
SOURCE: Suzano