Natura released its financial results for the first quarter of 2026. The company gained market share in Brazil, which it said was driven by “sell-out growth” and a sequential increase in the relationship selling channel, and experienced strong performance in its Hispanic markets. As a whole, the Natura brand grew 7% in constant currency.
Net revenue during the quarter was $950 million, with an EBITDA of $70 million. Revenue overall was pressured by macro conditions in Brazil and Argentina, but following the integration with Avon, its Argentina market is showing gradual recovery. Avon’s relaunch in Brazil and Mexico is in its early stages, having just rolled out in March, but it is already generating above-expectation sales.
Brazil digital sales grew 23.6% year-over-year and was underpinned by stronger platform traffic and initiatives like live commerce and an ongoing digitalization of its consultant network. Retail revenue grew 14.3% year-over-year.
The company stated that its cash flow was broadly neutral when excluding the quarter’s “extraordinary expenses,” which it stated attested to its resilience even amid revenue pressure.
“Having implemented the new operating model without disruptions, our focus turns entirely to sustainable revenue growth and expanding profitability,” said João Paulo Ferreira, Natura CEO. “We are confident in delivering on our 2026 commitments, which include improving annual margin versus 2025 and robust cash generation, with our optimal capital structure and disciplined capital allocation translating directly into returns for shareholders.”
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