Fleury (FLRY3) Q1 2026 earnings summary

Executive summary

• Gross revenue reached R$2.41 billion in Q1 2026, up 10.1% year-over-year, driven by strong B2C and regional brand performance, and supported by stable B2B growth.

• EBITDA grew 10.7% to R$606 million, maintaining a stable margin of 27.3%.

• Net income increased 12.2% to R$201.2 million, with a net margin of 9.1%.

• ROIC improved to 17.0%, up 300 basis points from Q2 2023, reflecting disciplined capital allocation.

• Celebrated 100-year anniversary with the launch of Milestone 100 unit and Fleury Life Care, targeting premium longevity services.

Financial highlights

• Net revenue was R$2.22 billion, up 10.3% year-over-year.

• Gross profit reached R$628.1 million (+9.8%), with a margin of 28.3%.

• Operating expenses rose 8.9% to R$260.3 million, representing 11.7% of net revenue.

• CapEx for the quarter was R$60.6 million, down 9.4% year-over-year, with focus on new PSCs and technology.

• Operational cash flow was R$264.6 million, down 17.9% due to seasonality.

Outlook and guidance

• Positive outlook for 2026, with expectations of continued market share gains and growth, supported by investments in service expansion, digital innovation, and disciplined M&A.

• Management emphasizes sustainable growth, integration of patient journey, and readiness for inorganic expansion.

• Anticipates stronger cash generation in subsequent quarters, following typical seasonality.