# Três Tentos Agroindustrial: Revenue Growth and Record Cash Flow Offset Margin Pressure as Ethanol Reached Full Capacity

> Três Tentos Agroindustrial reported third-quarter 2026 revenue up 17.2% year on year, while adjusted EBITDA including hedges fell 38.5% on margin and logistics pressure. The company posted record free cash flow of R$1.1 billion, cutting leverage to 2.44x, and its ethanol operations reached full capacity.

- Date: 2026-11-12 · published 2026-11-13T00:20:22.077Z
- Category: report · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/96768-tres-tentos-agroindustrial-revenue-growth-and-record-cash-flow-offset-margin
- Commodities: [Ethanol](https://feedsoft.ai/c/ETHANOL.md), [DDGS](https://feedsoft.ai/c/DDGS.md)

## Why it matters

Full ethanol capacity at a Brazilian grain processor signals firm ethanol output and corn-based co-product supply, though company-level results have little direct effect on feed prices.

## Read by commodity

- DDGS: neutral
- ETHANOL: neutral

## Sources

- tradingview.com: https://www.tradingview.com/news/urn:summary_document_report:quartr.com:3691231:0-tr-s-tentos-agroindustrial-revenue-growth-and-record-cash-flow-offset-margin-pressure-as-ethanol-reached-full-capacity/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.