CRESUD S.A.C.I.F. y A. announces its results for the second quarter of Fiscal Year 2026 ended December 31, 2025
Rhea-AI Summary
Cresud (NASDAQ: CRESY) reported results for 6M FY2026 ended Dec 31, 2025, posting net income ARS 193,932 million versus a loss of ARS 28,851 million year-ago, driven mainly by fair value gains on IRSA investment properties. Adjusted EBITDA totaled ARS 137,967 million, down 19% YoY; agricultural revenue rose to ARS 362,192 million.
The company planted 316,000 hectares (+5.8%), declared a dividend of ARS 93,782 million (~8% yield), issued local notes totaling USD 117.2 million, and reported market cap ~USD 819.4 million.
Positive
- Net income ARS 193,932 million (6M FY2026)
- Agricultural revenue ARS 362,192 million (+~34% YoY)
- Record wheat harvest in Argentina
- Dividend ARS 93,782 million (~8% yield)
- Planted area 316,000 hectares (+5.8% vs 2025)
Negative
- Adjusted EBITDA declined 19.0% YoY
- Non-current liabilities increased to ARS 2,599,843 million (+~21% vs Jun 30)
- Summer crops facing localized lack-of-rain challenges
News Market Reaction – CRESY
On the day this news was published, CRESY gained 1.50%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
CRESY was down 1.17% with modest volume. Two peers, TRC (-0.12%) and BOC (-0.32%), also traded lower, while FIP (+3.31%), CODI (+1.88%) and TTI (+0.43%) rose, showing a mixed but partially aligned sector backdrop.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 10 | Q1 FY2026 earnings | Positive | +0.8% | Swing to large net income despite lower adjusted EBITDA year-over-year. |
| May 09 | Q3 FY2025 earnings | Positive | +4.2% | Nine-month profit and strong adjusted EBITDA across agri and urban segments. |
| Feb 10 | Q2 FY2025 earnings | Negative | -5.5% | Net loss and weaker adjusted EBITDA driven by IRSA fair value changes. |
| Nov 08 | Q1 FY2025 earnings | Neutral | -0.1% | Net loss but sharply higher adjusted EBITDA and planned acreage expansion. |
| Sep 05 | FY2024 results | Positive | +2.4% | Full-year net gain, higher adjusted EBITDA, and strong asset sale activity. |
Earnings-related headlines have typically resulted in modest but mostly positive price reactions, with both strong and weak bottom-line periods seeing aligned market moves.
Over the past five earnings and results announcements, Cresud has alternated between net losses and substantial profits, often driven by fair value changes in IRSA investment properties. Adjusted EBITDA has fluctuated but remained significant across agribusiness and urban segments. Market reactions around these events have generally been aligned with the tone of the results, with moves after earnings typically modest (average around 0.37%). Today’s second-quarter FY2026 release fits into this pattern of results-driven trading.
Historical Comparison
Across the last five earnings or results releases, Cresud’s average next-day move was about 0.37%. Today’s -1.17% move is modestly larger but still within the historically low-volatility range around earnings.
Earnings releases show a progression from FY2024 net gains with rising adjusted EBITDA to FY2025 and FY2026 periods marked by swings between losses and sizeable profits, heavily influenced by IRSA property revaluations, while planted area and agribusiness scale have generally expanded.
Market Pulse Summary
This announcement highlights a sharp swing to net income of ARS 193,932 million for the first half of FY 2026, driven largely by IRSA investment property revaluations, alongside a 19.0% decline in adjusted EBITDA. Agricultural and urban revenues increased, planted area expanded to 316,000 hectares, and a sizeable ARS 93,782 million dividend was recently paid. Investors may focus on EBITDA trends, capital structure, and weather and commodity price conditions in upcoming campaigns.
Key Terms
adjusted EBITDA financial
dividend yield financial
market capitalization financial
ADS financial
AI-generated analysis. Not financial advice.
HIGHLIGHTS
- Net income for the first half of fiscal year 2026 reached ARS 193,932 million, compared to a loss of
ARS 28,851 million in the same period of 2025. This result was mainly driven by the gain from changes in the fair value of IRSA investment properties. - Adjusted EBITDA for the period totaled ARS 137,967 million,
19.0% lower than in the same period of 2025. Adjusted EBITDA from the agribusiness segments amounted toARS 15,350 million , while the urban properties and investments business (through IRSA) contributedARS 132,333 million . - The 2026 regional agricultural campaign is progressing with good weather conditions and stable international commodity prices, although still at historically low levels. We planted 316,000 hectares in the region,
5.8% more than 2025 campaign. - In
Argentina , we achieved a record wheat harvest, while summer crops are developing under some weather-related challenges—mainly lack of rains in certain areas—although with signs of improvement in recent weeks. - The livestock business continues to benefit from firm prices and strong margins, driven by stronger international demand and a domestic market aligned with this trend.
- During the quarter and subsequently, we issued Series L and Series LI Notes in the local market for a total amount of
USD 117.2 million . - On November 7, 2025, we distributed a dividend of ARS 93,782 million, consisting of
ARS 65,080 million in cash andARS 28,702 million in IRSA shares (~8% dividend yield).
Financial Highlights
(In millions of Argentine Pesos)
6M FY 2026 ended December 31, 2025
Income Statement | 12/31/2025 | 12/21/2024 Restated |
Agricultural Business Revenue | 362,192 | 269,767 |
Agricultural Business Gross Profit | 61,254 | 29,949 |
Urban Properties Revenues | 234,536 | 223,819 |
Urban Properties Gross Profit | 182,884 | 173,544 |
Consolidated Gross Profit | 242,435 | 201,901 |
Consolidated results from Operations | 306,696 | (178,388) |
Result for the Period | 193,932 | (28,851) |
Attributable to: | ||
Cresud's Shareholders | 74,448 | (25,103) |
Non-Controlling interest | 119,484 | (3,748) |
EPS (Basic) | 119.00 | (41.76) |
EPS (Diluted) | 110.18 | (41.76) |
Balance Sheet | 12/31/2025 | 06/30/2025 |
Current Assets | 1,568,619 | 1,424,897 |
Non-Current Assets | 4,732,610 | 4,391,316 |
Total Assets | 6,319,229 | 5,816,213 |
Current Liabilities | 1,112,451 | 1,144,974 |
Non-Current Liabilities | 2,599,843 | 2,141,011 |
Total Liabilities | 3,712,294 | 3,285,985 |
Non-Controlling Interest | 1,503,300 | 1,420,908 |
Shareholders' Equity | 2,606,935 | 2,530,228 |
The Company's market capitalization as of December 31, 2025, was approximately
Cresud, leading Argentinean agricultural company with a growing presence in Latin American countries, cordially invites you to participate in its second quarter of the FY 2026 Results Conference Call on Tuesday, February 10, 2026, at 04:00 PM Eastern Time / 06:00 PM BA Time.
To access the Webinar:
https://us02web.zoom.us/webinar/register/WN__KWGdjfyTW-MBjAFmDPfEQ
Webinar ID: 859 0167 8018
Password: 015129
In addition, you can participate by dialing the following numbers:
US: +1 719 359 4580 or +1 929 205 6099 or +1 253 205 0468 or +1 253 215 8782 or +1 301 715 8592
Investor Relations Department.
https://www.cresud.com.ar/home-inversores.php?lng=en
Cresud S.A.C.I.F. y A.
+5411 4323-7449
Follow us on Twitter: @cresudir
View original content:https://www.prnewswire.com/news-releases/cresud-sacif-y-a-announces-its-results-for-the-second-quarter-of-fiscal-year-2026-ended-december-31-2025-302683830.html
SOURCE Cresud S.A.C.I.F. y A.
FAQ
What drove Cresud's ARS 193,932 million net income in 6M FY2026 (CRESY)?
How did Cresud's Adjusted EBITDA and segment contributions look for 6M FY2026 for CRESY?
What dividend did Cresud declare and when was it distributed for CRESY shareholders?
How is Cresud's agricultural campaign progressing and what acreage was planted for FY2026 (CRESY)?
Did Cresud raise financing during the quarter and what was the market capitalization at Dec 31, 2025 for CRESY?
