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Suzano Posts Solid 1Q26 Operations but Stronger Real Compresses EBITDA

Story Highlights
  • Suzano’s 1Q26 results showed higher pulp sales and firmer export prices, but paper volumes slipped and seasonality weighed on performance.
  • Revenue, EBITDA and cash generation declined year on year, leverage stayed above three times, and key return metrics softened despite cost efficiencies.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Suzano Posts Solid 1Q26 Operations but Stronger Real Compresses EBITDA

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An update from Suzano Papel e Celulose SA ( (SUZ) ) is now available.

On April 29, 2026, Suzano reported its consolidated results for the first quarter of 2026, highlighting solid operating performance in a firmer pulp market marked by stronger paper demand and higher export pulp prices. Pulp sales rose 7% year on year to 2.835 million tonnes, while paper sales slipped 3% to 378,000 tonnes, and the company noted that a stronger Brazilian real and seasonal effects weighed on profitability.

Net revenue for the quarter fell 5% from a year earlier to R$10.97 billion, with adjusted EBITDA down 6% to R$4.58 billion and operating cash generation edging 4% lower to R$2.52 billion, leaving the EBITDA margin broadly stable at 42%. Leverage remained elevated at 3.3 times in U.S. dollars and 3.2 times in reais, while key return metrics such as ROIC and free cash flow yield declined year on year, signaling pressure on returns despite cost efficiencies in pulp production and improved pricing in the export pulp market.

The most recent analyst rating on (SUZ) stock is a Hold with a $11.00 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.

Spark’s Take on SUZ Stock

According to Spark, TipRanks’ AI Analyst, SUZ is a Neutral.

The score is driven primarily by solid financial performance (strong 2025 rebound and cash generation) but constrained by high leverage and cyclicality. Valuation is a key positive due to the low P/E, while technicals are supportive but look overextended. Earnings-call guidance was broadly constructive with clear deleveraging and cost/CapEx discipline, tempered by near-term maintenance and end-market pricing risks.

To see Spark’s full report on SUZ stock, click here.

More about Suzano Papel e Celulose SA

Suzano S.A., based in Brazil and listed in São Paulo and New York, is one of the world’s largest integrated pulp and paper producers. The company focuses on pulp, printing and writing papers, packaging, and tissue products, supplying both domestic and export markets, with a strong presence in global pulp trade and related paper segments.

Average Trading Volume: 3,761,000

Technical Sentiment Signal: Sell

Current Market Cap: $11.35B

For a thorough assessment of SUZ stock, go to TipRanks’ Stock Analysis page.

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