Cury Q2 Profit Up 14.3% to US$53.1 Million on Strong Sales
Brazil · Business
Key Facts
- —Net income R$270.5 million (US$53.1 million), up 14.3% y/y
- —Net revenue R$1.691 billion (US$332.2 million), up 25.5% y/y
- —Gross margin 39.5%; 39.8% adjusted for capitalized interest
- —Adjusted EBITDA R$387 million (US$76.0 million) per Estadão; R$392.3 million per UOL
- —Interim dividends R$190 million (US$37.3 million), payable Sept. 8
- —Semester launches 21 projects; net sales R$3.6 billion (US$707.3 million)
- —Reported by Valor, Estadão, SpaceMoney, UOL, InfoMoney, Money Times on Aug. 11
Brazilian homebuilder’s net revenue rose 25.5% year on year, driven by mid-income launches.
Cury Construtora e Incorporadora (B3: CURY3) reported Cury Q2 results with net income of R$270.5 million (US$53.1 million) for the second quarter of 2026. Up 14.3% from a year earlier.
This information comes from the company’s earnings release, as cited by several Brazilian financial outlets on August 11, 2026.
Cury: Q2 Profit and Revenue Beat Expectations
Net revenue rose 25.5% year on year to R$1.691 billion (US$332.2 million), according to Valor Econômico and Estadão. The company credited strong sales in the mid-income housing segment, its main market.
This continues the growth seen in the first quarter, when profit and revenue also rose by double digits. Analysts expected a strong quarter, but the actual figures were higher than the average forecasts from local brokerages.
Gross margin (the share of revenue left after direct costs) was 39.5%, or 39.8% after adjusting for capitalized interest. The margin stayed broadly stable from the previous quarter, thanks to efficient cost control despite higher construction material prices in some regions.
Adjusted EBITDA (a rough measure of cash profit) was R$387 million (US$76.0 million) per Estadão, while UOL reported R$392.3 million. The difference likely comes from varied calculation methods, but both figures indicate healthy operations.
Launches and Sales Momentum in First Half
In the first half of 2026, Cury launched 21 projects and recorded net sales of R$3.6 billion (US$707.3 million), according to UOL. These numbers are preliminary and may change in the full earnings report, but they show steady demand for affordable homes.
The company focuses on the mid-income segment, serving families in a specific monthly income range. This strategy helps Cury stand out from rivals that target lower-income or high-end buyers.
Analysts at Genial Investimentos predicted second-quarter launch sales of R$1.258 billion and launched VGV (a measure of the potential sales value of new projects) of R$2.2569 billion. But these are just forecasts.
The company has not yet released full launch details for the quarter. Despite strong sales, Cury faces tough competition from other homebuilders in urban areas.
Its ability to keep up the sales pace will depend on land costs and how quickly projects get approved. According to sector analysts.
Dividends Approved for September Payment
The board approved interim dividends (a partial profit payment to shareholders) of R$190 million (US$37.3 million), according to InfoMoney and Money Times. Payment will be made in one installment on September 8, 2026.
This payout follows the company’s habit of giving back a big part of profits to shareholders while keeping money for growth. In the past year, Cury paid two rounds of interim dividends and has consistently rewarded investors since its initial public offering.
The dividend yield (annual dividend compared to share price) represents a payout of about 70% of net income. Shareholders listed on the record date will be eligible.
But the ex-date (the day new buyers no longer get the dividend) has not been announced. Investors holding shares on the record date will receive the payment automatically through their brokerage accounts, with no extra steps.
Management said this interim dividend fits its promise to keep a steady, growing distribution.
Market Reaction and Broader Context
The results came out after market close on August 11. And shares were expected to rise on August 12, according to analysts cited by SpaceMoney.
However, no specific price change has been confirmed yet. Cury is doing well in a competitive Brazilian housing market, with peers also reporting earnings.
Its focus on the mid-income segment has helped it keep growing, per the company’s presentation. The housing sector benefits from lower interest rates, making financing easier for middle-class buyers.
But higher construction costs and slow permit approvals remain challenges for the whole industry. Management remains confident in the market’s long-term strength, citing a national housing shortage.
The company keeps adding to its land bank in big cities like São Paulo and Rio de Janeiro. Investors will watch the next quarterly report for details on project timelines and profit margins.
The company hasn’t given official full-year guidance, but executives are optimistic about the second half.
Verification Note on EBITDA Figures
The reported adjusted EBITDA figure varies: R$387 million (per Estadão) and R$392.3 million (per UOL). The difference suggests possible variations in adjustments or reporting periods, so check the official earnings release for the exact number.
Other key numbers, such as net income, revenue, and margin, match across all outlets. The company’s investor relations page did not clear up the matter by press time.
The gap may come from how non-recurring items or stock option expenses are treated in calculations. Both publications rely on the company’s own numbers but may apply slightly different methods.
For the final figure, look at the audited financial statements filed with the Brazilian securities regulator. The difference is small and doesn’t change the overall picture of the company’s performance.
More: Brazil news in English, every day from The Rio Times.
Frequently Asked Questions
What was Cury’s net income in Q2 2026?
Cury reported net income of R$270.5 million (US$53.1 million) for the second quarter of 2026, up 14.3% from a year earlier. The figure was widely reported by Brazilian financial media on August 11, 2026.
When will Cury pay dividends and how much?
Cury approved interim dividends of R$190 million (US$37.3 million), payable on September 8, 2026. The ex-dividend date has not been formally announced yet.
What is Cury’s gross margin for Q2 2026?
The gross margin was 39.5%, or 39.8% adjusted for capitalized interest. These figures were reported by the company and echoed by Valor Econômico and Estadão.
How much revenue did Cury generate in Q2 2026?
Cury’s net revenue reached R$1.691 billion (US$332.2 million), up 25.5% from the same quarter last year. This growth was driven by strong sales in the mid-income housing segment.
Sources: Valor Econômico, Estadão, SpaceMoney, UOL, InfoMoney, Money Times, Genial Investimentos
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