Adecoagro raised its EBITDA to 471.7 million dollars in the first nine months of 2026, from 378.0 million in the same period of 2025, driven by Profertil, which contributed 283.0 million, 148% more year over year. The Argentine agricultural business added just 18.8 million.
Adecoagro, a company controlled by Tether, increased its profits in the first nine months of fiscal year 2026 thanks to the incorporation of the fertilizer business, which offset the meager results of the agricultural business in Argentina. According to its latest earnings report, total EBITDA reached 471.7 million dollars, compared with 378.0 million in the same period of 2025.
The Profertil unit, acquired from Argentina's state-owned YPF, was the star of the report: it generated EBITDA of 283.0 million dollars between January and September 2026, 148% higher than in the same period last year.
The second most important business was the sugar and bioethanol unit located in Brazil, which in the first three quarters of the year contributed EBITDA of 194.9 million dollars, against 218.4 million in the same period of 2025.
The “food and agriculture” segment, concentrated in Argentina, generated EBITDA of just 18.8 million dollars and dragged down the figures in the report. Although it accounts for 37% of total revenue, it explained only 4% of EBITDA.
That result comes from a large-scale business that processes part of its production at six rice mills and a rice snacks plant, peanut and sunflower processing units, and two grain conditioning and storage plants. Add to that four dairy farms with a herd of more than 14,400 cows and two industrial dairy plants with export capacity. The company highlighted the “strong performance of our dairy brand in the domestic market, driven by higher UHT milk prices, coupled with an acceleration in rice sales as prices gradually recovered.”
“Results were also favored by a year-over-year increase in the value of biological assets, stemming from better yields in corn and peanut crops during the 2025/26 harvest,” the company added.
“Harvest work for the 2025/26 campaign has been completed, with total production exceeding 1.2 million tonnes, thanks to yields above those of the previous campaign. Planting for the 2026/27 campaign is already underway; as of the date of this report, 57.4% of the planned area has been planted,” the report states.
The company expects to reach a planted area of 245,400 hectares in the new campaign, a year-over-year increase of 2.9%. “This is mainly due to a larger area devoted to rice and peanuts, offset by a marginal reduction in the area dedicated to other traditional crops, such as soybeans and corn.” In addition, Alejandro López Moriena anticipated that the company plans to double Profertil's production and is analyzing further investments in dairy, rice and peanuts.
