Kepler Weber (KEPL3.SA) reported a 56.1% year-over-year drop in second-quarter net income to R$6.3 million. The grain storage leader attributed the sharp decline to persistent market price pressures.
Consolidated net revenues fell 3.9% to R$299.1 million during the period. Growth in the Agribusiness and Replacement & Services segments partially offset weaker demand in the Farms unit.
Macroeconomic headwinds primarily impacted the company's Farms segment. Kepler Weber maintained a net cash position of R$29.3 million despite the challenging environment.
The company released the results after the market close on August 12. Management will host a conference call for investors and analysts on August 13.