Suzano sees 2026 net debt below $14B at R$5.40/US$
The revised pulp-cost estimate uses updated exchange-rate and Brent assumptions; net debt and leverage targets for fiscal 2027 and 2028 remain unchanged.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
6-K
Rhea-AI Filing Summary
Suzano S.A. estimates that net debt will close fiscal 2026 below US$14.0 billion, based on an assumed year-end 2026 BRL/USD exchange rate of R$5.40.
The 2026 annual average pulp cash production cost estimate, excluding scheduled maintenance downtimes, was updated from R$800 per tonne to approximately R$825 per tonne. The revised assumptions are an average BRL/USD exchange rate of R$5.20 for the year, compared with R$5.07 previously, and Brent at US$94 per barrel, compared with US$84 previously. Suzano cited changed exchange-rate and Brent assumptions and the resulting impact on input costs associated with the Middle East conflict.
The previously disclosed net debt and leverage targets expected over fiscal years 2027 and 2028 remain US$11.0 billion and below 2.5x, respectively. These projections exclude effects arising from the acquisition of Arbex on July 1, 2026. Management says the estimates are forward-looking, subject to risks and uncertainties, and are not a promise of performance.
Key Figures
Estimated net debt: Below US$14.0 billion
Assumed year-end exchange rate: R$5.40
Net debt target: US$11.0 billion
+4 more
7 metrics
Estimated net debt
Below US$14.0 billion
Fiscal 2026 estimate
Assumed year-end exchange rate
R$5.40
BRL/USD assumption for the fiscal 2026 net debt estimate
Net debt target
US$11.0 billion
Previously disclosed target expected over fiscal years 2027 and 2028
Leverage target
Below 2.5x
Previously disclosed target expected over fiscal years 2027 and 2028
Estimated pulp cash production cost
Approximately R$825 per tonne
2026 annual average, excluding scheduled maintenance downtimes; updated from R$800 per tonne
Average exchange rate assumption
R$5.20
BRL/USD assumption for 2026, compared with R$5.07 in the previous estimate
Brent price assumption
US$94 per barrel
Compared with US$84 per barrel in the previous estimate
Key Terms
net debt, leverage, cash production cost, scheduled maintenance downtimes, +1 more
5 terms
net debt financial
"its net debt will close fiscal year 2026 below US$14.0 billion"
Net debt is the total amount a company owes after subtracting the cash and assets it has that can be used to pay off that debt. It shows how much debt is truly a burden, helping investors understand if a company is financially healthy or heavily borrowed. Think of it like calculating how much money you owe after using your savings to pay part of it.
leverage financial
"net debt and leverage targets in U.S. dollars"
Leverage is the use of borrowed money or other financial tools to try to amplify the returns from an investment, like using a crowbar to move a heavier rock than you could with your hands. It can boost gains when things go well but also magnifies losses and the chances of running into trouble if income or asset values fall, so investors watch leverage to judge both growth potential and financial risk.
cash production cost financial
"estimated average pulp cash production cost for 2026"
scheduled maintenance downtimes technical
"excluding the effects of scheduled maintenance downtimes"
forward-looking statements regulatory
"These estimates represent forward-looking statements"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What net debt does SUZ estimate for 2026?
Suzano estimates that net debt will close fiscal 2026 below US$14.0 billion, based on an assumed year-end 2026 BRL/USD exchange rate of R$5.40. Its previously disclosed net debt and leverage targets expected over fiscal years 2027 and 2028 remain US$11.0 billion and below 2.5x, respectively.
What is SUZ's updated 2026 pulp cash production cost estimate?
Suzano updated its estimated 2026 annual average pulp cash production cost, excluding scheduled maintenance downtimes, from R$800 per tonne to approximately R$825 per tonne. The revised assumptions include an average exchange rate of R$5.20 for the year and Brent at US$94 per barrel.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November, 2026.
Commission File Number 001-38755
Suzano S.A.
(Exact name of registrant as specified in its charter)
(Exact name of registrant as specified in its charter)
SUZANO INC.
(Translation of Registrant’s Name into English)
(Translation of Registrant’s Name into English)
Av. Professor Magalhaes Neto, 1,752
10th Floor, Rooms 1010 and 1011
Salvador, Brazil 41 810-012
(Address of principal executive office)
10th Floor, Rooms 1010 and 1011
Salvador, Brazil 41 810-012
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☑ Form 40-F ☐
Form 20-F ☑ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Enclosures:
Exhibit 99.1 – Guidance Update
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: November 05, 2026
SUZANO S.A. | ||||||||
| By: | /s/ Marcos Moreno Chagas Assumpção | |||||||
| Name: | Marcos Moreno Chagas Assumpção | |||||||
| Title: | Vice-President of Finance and Investor Relations | |||||||
MATERIAL FACT
SUZANO S.A.
Publicly-Held Company
Corporate Taxpayer ID (CNPJ/ME): 16.404.287/0001-55
Company Registry (NIRE): 29.3.0001633-1
São Paulo, November 5, 2026 – Suzano S.A. (“Company” or “Suzano”) (B3: SUZB3 | NYSE: SUZ), in accordance with the provisions of Law No. 6,404, of December 15, 1976, as amended, CVM Resolution No. 44, of August 23, 2021, and CVM Resolution No. 80, of March 29, 2022, as amended, hereby informs its shareholders, investors, and the market in general as follows:
1. Net debt estimates
Further to the Material Fact disclosed on May 11, 2026, and in continuation of the information provided, the Company estimates that its net debt will close fiscal year 2026 below US$14.0 billion (fourteen billion U.S. dollars), based on an assumed year-end 2026 exchange rate (BRL/USD) of R$5.40.
The other projections and assumptions previously disclosed by the Company regarding its net debt and leverage estimates, which do not include the effects arising from the acquisition of Arbex on July 1, 2026, remain unchanged, namely, that its net debt and leverage targets in U.S. dollars, expected to be reached over fiscal years 2027 and 2028, are, respectively: (a) US$11.0 billion and (b) below 2.5x.
2. Pulp cash production cost estimates – 2026 annual average
Suzano also informs that, due to the revision of the assumptions regarding the average exchange rate (BRL/USD), the Brent price and the result impact on input costs associated with the conflict scenario in the Middle East, its estimated average pulp cash production cost for 2026, excluding the effects of scheduled maintenance downtimes, has been updated from R$800 per tonne to approximately R$825 per tonne. The new estimate is based on the following assumptions: i) an average exchange rate (BRL/USD) of R$5.20 for the year (compared to R$5.07 in the previous estimate); and ii) a Brent price (ICE Brent Crude) of US$94 per barrel (compared to US$84 per barrel in the previous estimate).
3. Update of Reference Form
The Company also clarifies that item 3 of the Reference Form will be duly updated within the deadline set in CVM Resolution 80/22.
By disclosing the information contained in this Material Fact notice, the Company reaffirms its commitment to transparency with its shareholders, investors and the market and will keep them adequately informed of any significant change in the estimated long-term operational performance announced.
The estimates shown here merely reflect the current estimates or expectations of the Company's management, are subject to risks and uncertainties, and in no way constitute a promise of performance. These estimates represent forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. The terms "anticipates," "believes," "expects," "foresees," "intends," "plans," "projects," "aims," "shall" and other similar terms aim to identify such forecasts, which evidently involve risks or uncertainties that may or not be foreseen by the Company. Information on business prospects, projections and financial targets constitutes mere forecasts based on management's current expectations regarding the future of the Company and its subsidiaries. These expectations depend on market conditions and on the economic scenario in Brazil and the countries where the Company operates and the sectors in which it operates. Any change in the perception or the factors described above could cause actual results to differ from the estimates presented here.
São Paulo, November 5th, 2026.
Marcos Moreno Chagas Assumpção
Executive Vice President, Finance, Investor Relations and DigitalTech