BRAZIL · COMPANY RESULTS
Key Facts
- Profit: R$264.3 million (about US$48 million) in July to September, up 42.9% on a year earlier.
- Sales: Net revenue rose 13.4% to R$2.48 billion (about US$454 million).
- Operating profit: EBITDA grew 12.2% to R$672.2 million (about US$123 million), a margin of 27.1%.
- Consumer business: Revenue from patients grew 14.1%, or 9.3% without acquisitions.
- Debt: Net debt stood at 1.0 times EBITDA, or about one year of operating profit.
- Power Index Brazil ranks 1st of 14 in The Rio Times Latin America Power Index, with 74.2 points (November 2026 edition).
Fleury profit rose 42.9% to R$264.3 million (about US$48 million) in the third quarter, the Brazilian medical testing group said. Net revenue climbed 13.4% to R$2.48 billion (about US$454 million).
Fleury runs medical testing laboratories and patient clinics across Brazil and reported on Thursday 5 November 2026, after the São Paulo market closed. Dollar figures here use the European Central Bank reference rate of R$5.4664 per US$1 on 5 November.
What Fleury Reported
Net income for controlling shareholders was R$264.3 million (about US$48 million), against R$184.9 million (about US$34 million) a year earlier. That is a rise of 42.9%.
EBITDA, a measure of operating profit before interest, taxes and depreciation, rose 12.2% from R$599.4 million (about US$110 million) to R$672.2 million (about US$123 million). The EBITDA margin was 27.1%, down from 27.4% a year earlier.
Gross revenue, before deductions, was about R$2.7 billion (about US$494 million), up 13.3%. Net revenue, after deductions, was R$2.48 billion (about US$454 million), up 13.4%.
Where the Growth Came From
The consumer business, called B2C because patients pay Fleury directly or through their insurers, grew 14.1%, or 9.3% without acquisitions. The chief executive, Jeane Tsutsui, linked the rise to more installed capacity, a wider range of exams and stronger mobile care.
The business-to-business arm, which serves other laboratories and hospitals, grew 12.7%. A third unit, called Novos Elos, which means new links, grew 8.4%.
The chief financial officer tied part of the margin dip to Femme, a clinic business counted in operating results for the first time. Femme and São Lucas are brands Fleury agreed to buy in late 2025.
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Cash, Debt and Returns
Operating cash generation was R$798.5 million (about US$146 million), up 11.1% from R$718.5 million (about US$131 million) a year earlier. Net debt was 1.0 times EBITDA, meaning the group could repay its net debt from about one year of operating profit.
Return on invested capital, which measures profit against the money put into the business, was 18.7%. The chief executive said the quarter showed consistency and discipline and that Fleury keeps generating cash.
In Plain English, Who Is Who
Fleury is a Brazilian medical testing and healthcare group, and its shares trade on the São Paulo exchange, B3, under FLRY3. It sells exams to patients directly and to other laboratories and hospitals.
In Brazil, patients pay for tests either out of pocket or through private health insurance. Fleury’s results therefore reflect how many people use private medical care.
What It Means for You
For a US investor or health-care buyer, Fleury is a read on private medical demand in Brazil, where profit is growing faster than sales. The shares trade only in Brazil, so currency moves in the real change the dollar value of its profit.
Our report on Fleury’s purchase of the Femme clinics explains the newest acquisition. Our report on its second-quarter results gives the comparison from three months earlier.
What Is Not Known
It is not yet known whether Fleury can lift its margin again, because the 27.1% figure is below last year’s 27.4%. The chief executive can address this when the group reports fourth-quarter results in early 2027.
It is also not yet known how much Femme will add over a full year, since this was its first quarter in operating results. The chief financial officer can answer when the group next reports.
More: Latin America news in English, every day from The Rio Times.
Frequently Asked Questions
How much profit did Fleury make in the third quarter of 2026?
Fleury earned R$264.3 million (about US$48 million), up 42.9% from R$184.9 million (about US$34 million) a year earlier. Net revenue was R$2.48 billion (about US$454 million).
What does Fleury do?
Fleury is a Brazilian group that runs medical testing laboratories and patient clinics. Its shares trade in São Paulo under the ticker FLRY3.
How fast did Fleury’s sales grow?
Net revenue grew 13.4% and the consumer business 14.1%. Without acquisitions, consumer growth was 9.3%.
How indebted is Fleury?
Net debt stood at 1.0 times EBITDA at the end of September. That means about one year of operating profit would cover it.
Sources: Fleury S.A. investor relations, third-quarter 2026 results calendar (release after the market close on 5 November), Thursday 5 November 2026; Fleury S.A., third-quarter 2025 earnings report (prior-year comparison figures), November 2025; European Central Bank reference rate, R$5.4664 per US$1, Thursday 5 November 2026.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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