BRBI BR Partners (BRBI11) Q2 2026 earnings summary

Executive summary

• Demonstrated operational resilience amid challenging geopolitical and macroeconomic conditions, maintaining profitability above the cost of capital and investing in people and business lines.

• Recognized as Brazil's Best Investment Bank for M&A by Euromoney in 2026, with a robust pipeline and improved deal conversion.

• The company’s Financial Advisory area announced 7 transactions, Capital Markets structured 15 operations totaling R$1.9 billion, and Wealth Management managed R$6.2 billion in assets.

• M&A and capital solutions activity increased, with 14 announced deals in 6M26, up from 3 in 6M25.

• Global market volatility, Middle East conflict, and inflationary pressures impacted oil prices and inflation worldwide.

Financial highlights

• Total revenue for 6M26 was R$264.9 mn, down 0.7% year-over-year; 2Q26 revenue was R$130.1 mn, down 6.6% from 2Q25.

• Net income for 6M26 was R$72.8 mn, down 17.6% year-over-year; 2Q26 net income was R$35.1 mn, down 22.4% from 2Q25.

• Client revenues for 6M26 reached R$211.2 mn, up 5.2% year-over-year, accounting for 80% of total revenue.

• Wealth Management managed R$6.2 bn in assets at June 2026, with revenues up 22.8% year-over-year.

• Net margin declined to 27.5% in 6M26 from 33.1% in 6M25.

Outlook and guidance

• Emphasis on further diversifying into recurring revenue verticals and maintaining a strong pipeline in Investment Banking and Capital Markets.

• M&A activity is expected to remain robust, especially in telecom, financial services, and retail sectors.

• Capital markets activity is anticipated to stay selective and opportunistic due to high interest rates and credit risk concerns.

• Management is assessing the impact of upcoming IFRS/CPC standards and Brazilian tax reform, with no expected significant effect.

• The outlook for the second half of the year remains uncertain, with volatility expected from the electoral environment and macroeconomic factors.