BRAZIL · COMPANY NEWS
On Thursday 12 November 2026, Natura, a Brazilian beauty group selling through door-to-door consultants, reported a third-quarter profit of R$49 million (about US$8.7 million). Revenue fell and the new chief executive warned of a slow fix, which matters to US investors who once followed Natura in New York.
Key Facts
- Result Net income R$49 million (US$8.7 million), against a R$119 million (US$21 million) loss from continuing operations a year earlier.
- Revenue Net revenue about R$5 billion (US$890 million), down 3%; Brazil sales fell 9%.
- Debt Net debt about R$3.4 billion (US$605 million); leverage, or net debt relative to EBITDA (operating cash profit), 1.83 times, from 2.06 in the second quarter.
- Leadership Alessandro Carlucci became chief executive on 1 October and set no numeric guidance.
- Power Index Brazil ranks 1st of 14 in The Rio Times Latin America Power Index, with 74.2 points (November 2026 edition).
A profit after a loss a year earlier is a real change, yet sales in Brazil kept shrinking. Management says the repair will be slow, and our September retail sales report gives the wider consumer backdrop.
What Natura Reported
Natura said net income was R$49 million (about US$8.7 million) in the third quarter, against a net loss of R$119 million (about US$21 million) from continuing operations a year earlier. We convert reais at the central bank’s reference rate, known as PTAX, of R$5.6143 per US$ on 12 November.
Consolidated net revenue was about R$5 billion (about US$890 million), down 3% in reais. At constant currency, Natura’s measure that removes exchange-rate swings, the fall was 5.9%.
A year earlier revenue was R$5.194 billion (about US$925 million). Reported EBITDA, a rough measure of operating cash profit, was R$460 million (about US$82 million).
That is a 9.1% margin, up 0.2 percentage points on a year earlier. Excluding one-off items outside day-to-day operations, EBITDA was R$636 million (about US$113 million), a 12.6% margin.
In Plain English
- Consultants are independent sellers who offer Natura products door to door.
- Constant currency removes exchange-rate swings so sales can be compared fairly.
- EBITDA is earnings before interest, tax, depreciation and amortisation, a rough measure of operating cash profit.
- Leverage compares net debt with EBITDA; 1.83 times means debt of under two years of earnings.
Why It Matters
Brazil is where the pain sits: revenue there fell 9%, while Hispanic Latin America, Natura’s Spanish-speaking markets, slipped only 0.9% at constant currency. Natura called the Brazil result better than the prior quarter but below expectations.
Consultants sell door to door, so the three causes in the release hit sales directly: product unavailability, lower consultant productivity and weaker relationship selling. In Mexico, growth slowed because a sales cycle moved from the third to the second quarter.
Argentina’s recovery after the integration with Avon, a beauty brand that joined the group earlier, is still slow. Natura set no numeric target, so the next quarterly results are the first checkpoint.
Live Company IntelligenceNatura Cosmeticos S.A. — the full investor dossier
Debt and Leverage
Net debt fell to about R$3.4 billion (about US$605 million). Leverage, net debt relative to EBITDA, was 1.83 times, down from 2.06 times in the second quarter of 2026.
Natura credits R$268 million (about US$48 million) of cash generation. It adds inflows from FIDCs, Brazilian investment funds that buy a company’s unpaid customer invoices.
What the New Chief Executive Says
Alessandro Carlucci, announced on 31 August 2026, took office as chief executive on 1 October 2026. He succeeds João Paulo Ferreira, the previous chief executive, who led Natura for 10 years.
Carlucci said in the release: “Achieving our objectives requires strengthening and adjusting our foundational levers rather than relying on targeted short-term initiatives and superficial fixes.” He named three priority areas for the turnaround.
He said resolving internal bottlenecks and adjusting structural levers in Brazil will take time to yield results. He added that “a robust balance sheet, disciplined capital allocation, and cash preservation remain king across our entire strategy”.
What It Means for You
Natura’s shares trade on B3, the São Paulo stock exchange, under the ticker NATU3. They are no longer New York-listed receipts, so US holders follow the company through its Brazilian listing.
Brazil’s central bank held its policy rate, the Selic, at 13.75% on 4 November, as covered in our report on the minutes of Copom, the central bank’s rate-setting committee. Our coverage of why high rates last longer and our look at retailers preparing for a shorter week add consumer context.
Our Brazil coverage will follow the next results. Investors will look for proof that service levels are improving.
What Is Not Known
Natura’s share-price reaction on 13 November is not known, because there is no reliable close. Analyst consensus is also not known.
What drove the profit swing beyond the operating figures above is not known. It also sets no numeric guidance.
Frequently Asked Questions
How much profit did Natura make in the third quarter of 2026?
Natura earned R$49 million (about US$8.7 million), against a R$119 million (about US$21 million) loss from continuing operations a year earlier. Revenue was about R$5 billion (about US$890 million), down 3%.
Why did Natura’s revenue fall?
Brazil revenue fell 9%, and Natura cites product unavailability, lower consultant productivity and weaker relationship selling. Hispanic Latin America was down 0.9% at constant currency.
Is Natura listed in New York?
No, Natura’s shares trade in Brazil on B3 under the ticker NATU3. It is no longer a New York-listed company.
Who is Natura’s new chief executive?
Alessandro Carlucci took office on 1 October 2026, succeeding João Paulo Ferreira, the previous chief executive. He named three priority areas for the turnaround.
Sources: Natura, investor relations, third-quarter 2026 earnings release, 12 November 2026; Banco Central do Brasil, PTAX exchange-rate history.
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
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