The highlight of the analysts for the balance of the good crop was for the advancement of the order portfolio this beginning of the year. (Photo: Disclosure)
THE Good crop (SOJA3) saw his net income more than double in the first quarter of 2025 (1T25), a 108.31% advance compared to the same quarter as last year, from R $ 8.091 million to R $ 16.854 million.
Net operating revenue grew 89.89% in the same comparison, from R $ 69.102 million to R $ 131.217 million. The result was released yesterday (13) after the closing of the market. Around 11:14 am on Wednesday (14), the shares advanced 8.45%, at R $ 11.29.
In the evaluation of BTG Pactualwhich stresses that the first quarter is unintelliged to the consolidated result of the year, as most revenue occurs when seeds are effectively sold in the second half, 1T25 offered a useful vision of how the company’s supply and marketing are evolving.
Revenue was 15% above the bank estimate, while net profit was close to the equilibrium point. “From a financial point of view, the highlight was the new issuance of R $ 500 million in CRA (Certificate of Receivables of Agribusiness) for the good crop, with the objective of stretching the company’s debt salaries – the resources will be mostly used to finance working capital needs,” says Thiago Duarte, Guilherme Guttilla and Gustavo Fabris.
BTG, which maintains its purchase and target price recommendation of R $ 21 (87%high potential), explains that the good crop has shared an operational constructive view of a better perspective for soy seeds forward. The company’s order portfolio in 1T25 reached R $ 1.4 billion, up 40% in the annual comparison.
“Although 2024 was a very difficult year for the good crop, we consistently kept the view that, in the agribusiness sector, each Safra year has its own characteristics. We also welcome the company’s focus to expand its performance to new geographies and cultures.”
https://www.youtube.com/watch?v=s8plcmeetzs
The results of SOJA3 1T25 for XP Investments
For analysts of XP Investmentsthe financial result was a positive surprise, causing the profit per action to be above estimates.
“Despite the better profits than expected, the sharp increase of 40% A in the order portfolio was the main highlight and can lead to a positive reaction in the price of action on Wednesday, although the market remains cautious about the execution of this portfolio,” says Leonardo Alencar, Pedro Fonseca and Samuel Isaak.
XP points out that the absence of production bottlenecks allowed a faster, unlike last year, when adverse weather conditions impacted the production of seeds of good crop and other players, especially in Mato Grosso.
“By 2025, we are projecting a record soybean harvest in Brazil and therefore we believe the company will not face significant challenges to meet our production estimate of approximately 280,000 big bags. Consequently, good crop accelerated its marketing pace, as we expected, which resulted in significant improvement in its 1T25 request backlog.”
Source: Moneytimes
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