Financial Data and Key Metrics Changes - The company reported a revenue of R$470 million and an adjusted EBITDA of R$71.3 million, with a loss of R$61.8 million for the semester, indicating a challenging period due to high incurred expenses and low asset classification [11][30][31] - The company experienced a significant reduction in sugarcane productivity, which was a major detractor from overall performance, with losses attributed to adverse weather conditions and operational issues [30][34][38] Business Line Data and Key Metrics Changes - Sugarcane production faced challenges due to frost and fire incidents, leading to lower maturity levels and productivity, with a drop from 140 kg of sugar per ton last year to 131-132 kg this year [22][38] - Cotton production was adjusted to focus on irrigated areas in Bahia, with a shift from high-cost production in volatile regions, aiming for higher productivity levels [46][48] Market Data and Key Metrics Changes - Brazil is expected to have a super harvest of soy, with stocks exceeding 50 million tons, impacting market prices and premium perspectives [12] - The company noted a favorable ratio for corn compared to soy, with corn prices benefiting from logistical changes in the ethanol market [13] Company Strategy and Development Direction - The company is focusing on reducing operational volatility and improving productivity through better resource allocation and technology implementation, including telemetrics [10][15] - There is a strategic emphasis on diversifying crop production to mitigate risks associated with commodity price fluctuations [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of sugarcane production in the next harvest, citing improvements in management practices and fertilizer application [50][54] - The company is cautious about pricing in the sugarcane and ethanol markets for the upcoming year but anticipates a potential recovery in the following cycles [53][54] Other Important Information - The company has a debt of R$886 million, with a net cash position of R$802 million, indicating a stable financial position despite the seasonal cash flow challenges [40][42] - The company is actively monitoring input costs and currency fluctuations to optimize operational efficiency and reduce expenses [16][17] Q&A Session Questions and Answers Question: Can you provide more information on the shift in productivity for cotton? - The company has reduced reliance on cotton in high-cost regions and is focusing on irrigated agriculture in Bahia to improve productivity [46][48] Question: What is the outlook for sugarcane recovery in the next harvest? - Management is optimistic about sugarcane recovery due to improved management practices and a focus on reducing the average age of plantations [50][54] Question: Is there a potential adjustment for the reduction of planted areas in Brazil? - The company acknowledges external factors affecting planted areas and believes that a more rational approach will emerge as external pressures are alleviated [62]

Financial Data and Key Metrics Changes - The company reported a revenue of R$470 million and an adjusted EBITDA of R$71.3 million, with a loss of R$61.8 million for the first six months of the fiscal year 2025-2026 [12][33] - The previous year’s loss for the same period was R$77 million, indicating an improvement in financial performance despite ongoing challenges [33] Business Line Data and Key Metrics Changes - Sugarcane production faced significant challenges, resulting in a productivity drop to 970,000 tons compared to 1.3 million tons the previous year, primarily due to adverse weather conditions and operational issues [40][41] - Soy and corn showed positive performance, with soy contributing R$3.7 million and corn R$20 million to the overall results, while cotton also had a positive impact of R$9.9 million [36] Market Data and Key Metrics Changes - Brazil is experiencing a super harvest with soy stocks exceeding 50 million tons, leading to lower prices but also better premium perspectives for corn due to regional market dynamics [13][14] - The cattle market is recovering, with expectations of improved prices due to limited supply, while sugar prices have decreased from $0.22 to $0.15 per pound [15][24] Company Strategy and Development Direction - The company is focusing on diversifying its crop portfolio to mitigate risks and improve operational stability, with a strategic emphasis on irrigated agriculture for cotton production [26][50] - There is an ongoing effort to enhance productivity through technology implementation, such as telemetrics, to improve operational efficiency across all units [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of sugarcane production in the next harvest, citing improved management practices and fertilizer application as key factors [56][57] - The company anticipates challenges in pricing for sugarcane and ethanol in the near term but expects a potential recovery in the following cycles due to improved productivity and market conditions [56][62] Other Important Information - The company has a debt of R$886 million, with a net cash position of R$802 million, indicating a stable financial position despite the seasonal cash flow challenges [43][45] - The company is actively monitoring input costs and has achieved savings of about 7% to 8% on certain commodities through strategic purchasing [16][18] Q&A Session Questions and Answers Question: Can you provide more information on the shift in productivity for cotton guidance? - The company has reduced reliance on cotton in high-cost regions and is focusing on irrigated areas in Bahia to enhance productivity, with expected yields of 370-380 kg per hectare [48][50] Question: What is the outlook for sugarcane production in the next harvest? - Management is optimistic about sugarcane recovery due to improved management practices and accelerated plantation efforts, despite acknowledging challenges in the current market [51][56]

2Q26 | 6M26 RESULTS PRESENTATION André Guillaumon CEO Gustavo Lopez CFO & IRO Ana Paula Zerbinati IR and Capital Market Head 6M26 EARNINGS CALL PORTUGUÊS Essa videoconferência será em português, com tradução simultânea para o inglês. Alteração de Idioma: para acessar a tradução simultânea, clique no botão Interpretation, na parte inferior direita da tela, e escolha o idioma "Inglês". Para fazer perguntas: clique no ícone Q&A e escreva seu nome e empresa ou levante a mão para entrar na fila. Ao ser anunciado ...

Core Viewpoint - Alico is transitioning away from capital-intensive citrus production towards land monetization and management, reflecting improved profitability metrics and a focus on real estate development opportunities [5][7][21] Financial Performance - Alico reported total revenue of $1.9 million for Q1 fiscal 2026, a significant decline from $16.9 million in the prior-year period, primarily due to the conclusion of its citrus business [3] - The net loss attributable to common stockholders was $3.5 million, or $0.45 per diluted share, an improvement from a net loss of $9.2 million, or $1.20 per diluted share, in the prior-year quarter [2][4] - Adjusted EBITDA for the quarter was $2.7 million, compared to negative $6.7 million in the previous year [2] Land Sales and Utilization - Alico generated $7.7 million in land sales during the first quarter, with year-to-date land sales totaling approximately $34.5 million [4][10] - The company achieved 97% utilization of its approximately 32,500 farmable acres, reflecting a strategic shift towards land management [7][12] Development Pipeline - The Corkscrew Grove stewardship district was approved, with four near-term projects covering about 5,500 acres and an estimated present value of $335–$380 million [6][19] - Alico anticipates a decision from Collier County in 2026, with potential construction starting as early as 2028, contingent on federal permits [6][19] Balance Sheet and Liquidity - Alico ended the quarter with $34.8 million in cash and a current ratio of 14.39 to 1, with total debt at $85.5 million and net debt at $50.7 million [13][14] - The company expects to end fiscal 2026 with approximately $50 million in cash and reduce net debt to around $35 million [15] Shareholder Returns - Since 2015, Alico has returned over $190 million to shareholders through dividends, share repurchases, and voluntary debt reduction [21]

Core Viewpoint - The article emphasizes the importance of investing in safe-haven assets and undervalued dividend-paying consumer staples stocks during periods of market volatility and geopolitical tension [1][2]. Group 1: Investment Strategy - Safe-haven assets like gold, silver, and U.S. Treasuries are recommended for hedging risks, although their effectiveness may vary [1]. - Consumer staples and utilities are considered safe investments due to their inelastic demand and established history of returning capital to shareholders [2]. Group 2: Selected Companies - **United Breweries Co. (CCU)**: - Benzinga Edge Value Score of 98.14, with a current dividend yield of 2.8% and a dividend payout ratio (DPR) of 58.9% [4]. - The stock trades at 16 times earnings and 0.85 times sales, showing positive price action [4]. - CCU shares have increased over 11% recently, with bullish indicators such as a Golden Cross and favorable MACD signals [7]. - **NuSkin Enterprises Inc. (NUS)**: - Benzinga Edge Value Score of 86.96, with a market cap of $540 million and a dividend yield of 2.08% [8]. - The company reduced its dividend payout from $0.39 to $0.06, but the current payout allows for future increases [8]. - NUS shares have risen 15% at the start of the year, indicating bullish momentum [11]. - **Cresud SACIF y A (CRESY)**: - Benzinga Edge Value Score of 93.82, with a dividend yield of over 5% and a DPR of 23.4% [12]. - The company operates in agriculture and real estate, providing diversification during geopolitical tensions [12]. - CRESY shares have formed a Golden Cross, with the 50-day SMA acting as support [15]. - **Weis Markets Inc. (WMK)**: - Benzinga Edge Value Score of 89.87, with a market cap of $1.68 billion and a dividend yield of 2% [16]. - The DPR is 35.79%, allowing potential for future dividend increases [16]. - WMK shares have shown bullish signals, with a breakout above the 50-day SMA and an RSI indicating upward momentum [18]. - **Calavo Growers Inc. (CVGW)**: - Benzinga Edge Value Score of 80.91, with a dividend yield of 3.09% and a DPR of 72% [19]. - The company operates in the fresh produce sector, which is less affected by tariffs [19]. - CVGW shares have surged nearly 20% recently, breaking above key moving averages [21].

Financial Performance - Net Revenue decreased by 37% from R$457.208 million to R$286.644 million[34] - Adjusted EBITDA decreased by 62% from R$169.357 million to R$64.349 million[34] - Net Income decreased from a profit of R$97.457 million to a loss of R$64.275 million[34] - Revenues from Operations decreased by 7% from R$325.296 thousand to R$302.969 thousand[34] Commodity and Input Prices - Soybean prices increased by 2%[17] - Corn prices increased by 17%[17] - Cotton prices decreased by 14%[17] - Cattle Raising prices increased by 43%[17] - Ethanol prices increased by 20%[17] - Sugarcane prices decreased by 21%[17] - Average price of KCL BRASIL increased by 11%[18] - Average price of MAP BRASIL increased by 13%[18] - Average price of UREIA US GOLF increased by 8%[18] Planting Status - 34% of planting was completed as of November 10th[29]

Group 1 - The article discusses the sugarcane harvest in Lanxi, Zhejiang, highlighting the agricultural practices and the significance of this crop for the local economy [1][2][3] Group 2 - The harvest is expected to contribute positively to the region's agricultural output, reflecting the effectiveness of local farming techniques [1][2][3] - The article emphasizes the importance of sugarcane as a cash crop, which supports farmers' livelihoods and boosts local economic development [1][2][3]

Financial Performance (9M25) - Net revenue reached R$870.5 million[13], a 57% increase compared to the previous year[26] - Adjusted EBITDA was R$195.3 million[13], with an adjusted EBITDA margin of 22%[26] - Net income amounted to R$76.7 million[13], a significant turnaround from the previous year's net loss[26] Production and Sales (24/25 Harvest) - Soybean production is estimated at 251,788 tons[19], but projected to be 216,111 tons[19], a 14% decrease[19] - Corn production is estimated at 42,033 tons[19], and projected to be 47,527 tons[19], a 13% increase[19] - Cotton production is estimated at 31,170 tons[19], but projected to be 20,553 tons[19], a 34% decrease[19] Commodity and Input Prices - Soybean prices decreased by 2% from June 2024 to April 2025[15] - Corn prices increased by 31% from June 2024 to April 2025[15] - Cattle raising prices increased by 46% from June 2024 to April 2025[15] - The price of KCL fertilizer for the 25/26 harvest is projected at USD 635 per ton[17], a 24% increase compared to Mar-24[17] Hedging - 20% of the 24/25 soybean harvest and 22% of the 25/26 harvest are hedged for commodity prices[25] - 72% of the 24/25 corn harvest and 83% of the 25/26 harvest are hedged for commodity prices[25] - 39% of the 24/25 ethanol harvest is hedged for commodity prices[25] - 71% of the 24/25 cotton harvest is hedged for commodity prices and 47% is hedged for exchange rates[25] Indebtedness - Total indebtedness is R$884.98 million[36], a 30% increase compared to June 30, 2024[36] - Adjusted net debt is R$779.403 million[36], a 65% increase compared to June 30, 2024[36]

Company Overview - CRESUD has been investing in real assets for over 30 years[2] - The company manages 865,600 hectares through CRESUD, BrasilAgro & Subsidiaries, with 71% owned, 14% leased, and 15% under long-term concessions[11] - CRESUD's agribusiness strategy focuses on farming activity, farmland real estate, and agricultural commercial services[15] Farmland Portfolio and Production - The company's farmland portfolio has evolved since 1994, expanding from Argentina to the region[8] - The planted surface has increased at a CAGR of +10.3%[19] - Grain production in the region has increased at a CAGR of +14.8%[21] Farmland Real Estate - Farmland prices in Argentina have seen significant appreciation[28] - Farmland prices in Brazil have also seen significant appreciation[31] - CRESUD's stake in farmland real estate is 51.2%[34] Agricultural Commercial Services - The company complements traditional farming with services, trading, and AgTech[36] - Traded tons evolution & market share has increased over the years[39] - EBT Evolution reached USD 28.2 million in 2021-2022[41] Financial Performance and Capital Management - Agribusiness Adjusted EBITDA has evolved across farming, farmland sales, and services segments[50] - Stand-alone debt has decreased by -23.4% to USD 323 million in IIQ 25[53] - The company approved a dividend on October 28th, 2024, with a dividend yield of ~7%[58] - Shares repurchase programs were conducted from November to December 2024, with 4,522,623 ordinary shares repurchased for ARS 6,498 million (~USD 6.4 million), representing ~0.75% of Social Capital[60]