Braskem posts $207.8 million loss as recurring EBITDA falls 63%
Key Facts
Braskem reported a loss of $207.8 million in the third quarter of 2026, equivalent to 52 cents per share, in results that showed a sharp decline in operating earnings despite revenue growth. Revenue reached $3.81 billion during the period, according to The Associated Press. In Reuters' coverage, recurring EBITDA fell 63% year on year to 382 million Brazilian reais. The gap between sales growth and deterioration in the operating metric is at the forefront of results at the Brazilian petrochemical company. BAK shares closed at $1.13 on November 12, according to EL7 data.
Reuters attributed revenue growth to a more favorable environment for petrochemical product spreads in Brazil, the United States and Mexico. But that improvement did not prevent recurring EBITDA from falling to 382 million reais, compared with 818 million reais in the third quarter of 2025, according to the company's data for that quarter. Braskem had said that results in the third quarter of last year remained under pressure from global economic volatility and the continued downturn in the petrochemical industry, which led to lower demand for products. In the second quarter of 2026, the company posted consolidated EBITDA of $1.043 billion and said higher chemical and petrochemical spreads in international markets were the main driver. These comparisons show differing performance across the periods, with the decline in the recurring metric remaining central to the current third-quarter results.
On debt, Braskem ended September with leverage of 6.36 times, compared with 16.21 times a year earlier and 6.74 times at the end of June, according to Reuters. This means leverage was below its level in both comparison periods, while remaining above six times. The company had reported adjusted net debt of $9.5 billion on June 30 and leverage of 6.74 times at the end of the second quarter. Debt restructuring remains an ongoing issue alongside the release of third-quarter results. These figures connect the decline in operating earnings with the course of the company's financial negotiations.
Braskem said in a filing with the U.S. Securities and Exchange Commission that the company and investors continue to exchange information and non-binding indicative proposals on the terms of the updated plan. It added that management would assess appropriate actions if an agreement could not be reached by the specified deadline. The filing puts the continuation of talks among the key anticipated developments in the restructuring, without announcing a final agreement. The negotiations are taking place as third-quarter results showed a net loss of $207.8 million and a decline in recurring EBITDA. Alongside revenue and leverage, the negotiations round out the picture of the period that investors followed in the company's stock.