Cury Construtora e Incorporadora (CURY3) Q1 2026 earnings summary

Executive summary

• Achieved record net revenue of R$1.6 billion in 1Q26, up 32.6% year-over-year, and net income of R$351.2 million, up 50.3% year-over-year.

• ROE reached a historic high of 79.5%, up 12.0 p.p. from 1Q25.

• Maintained positive cash generation for the 28th consecutive quarter, with R$93.4 million generated in 1Q26.

• Introduced a new executive leadership structure and celebrated 63 years of operations.

• Strong operational momentum with R$2.6 billion in launches and R$2.3 billion in net sales, both record levels.

Financial highlights

• Net revenue rose 32.6% year-over-year to R$1,612.6 million in 1Q26.

• Net income reached R$351.2 million, up 50.3% year-over-year, with a net margin of 21.8%.

• Gross profit was R$629.7 million, with a gross margin of 39.0%, stable year-over-year.

• EBITDA reached R$411.4 million, up 42.9% year-over-year, with a margin of 25.5%.

• Operating cash flow was R$93.4 million, marking the 28th consecutive quarter of positive cash generation.

Outlook and guidance

• Expansion of the Minha Casa, Minha Vida program is expected to increase eligible families and support future results.

• Management remains attentive to inflation, cost pressures, and geopolitical risks, with a focus on maintaining margins and cash generation.

• Strong sales momentum with high sell-through rates on new launches, including 100% sold at Cidade Parque Guarapiranga.

• Dividend payout policy remains unchanged, with BRL 300 million already announced for the year.