SUZ Q2 2025 Earnings Report — Suzano S.A. Revenue & Financial Results | Market Cap Arena

Q2 2025 Earnings

Reported August 6, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2025	Q1 2025	Q2 2024	QoQ Change	YoY Change
Revenue	$2.7B	$2.3B	$2.3B	15.1%	15.7%
Op. Income	$614M	$455M	$929M	34.9%	-34.0%
Gross Margin	35.3%	33.1%	47.0%	2.2pp	-11.7pp
Net Margin	37.7%	54.9%	-32.8%	-17.2pp	70.5pp
EPS (Diluted)	$0.82	$1.03	$-0.59	-20.4%	238.1%
Free Cash Flow	$229M	$270M	$357M	-15.0%	-35.8%

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$1.7B
GROSS PROFIT	$944M
R&D Expenses	$0
Selling & Marketing	$169M
General & Administrative	$130M
SG&A Expenses	$299M
Other Expenses	$31M
Operating Expenses	$331M
Cost & Expenses	$2.1B
OPERATING INCOME	$614M
Interest Income	$77M
Interest Expense	$324M
Other Income/Expenses	$857M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$461M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$572M
EBIT	$1.8B
EBITDA	$2.4B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$1.7B
GROSS PROFIT	$944M
R&D Expenses	$0
Selling & Marketing	$169M
General & Administrative	$130M
SG&A Expenses	$299M
Other Expenses	$31M
Operating Expenses	$331M
Cost & Expenses	$2.1B
OPERATING INCOME	$614M
Interest Income	$77M
Interest Expense	$324M
Other Income/Expenses	$857M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$461M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$572M
EBIT	$1.8B
EBITDA	$2.4B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.0B
Depreciation & Amortization	$572M
Stock-Based Compensation	$0
Deferred Income Tax	$412M
Other Non-Cash Items	-$930M
Change in Working Capital	-$189M
OPERATING CASH FLOW	$874M
Capital Expenditure	-$645M
Acquisitions (Net)	-$1M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$698M
NET CASH FROM INVESTING	-$979M
Net Debt Issuance	$625M
Common Stock Repurchased	-$31M
Common Dividends Paid	-$3M
Other Financing Activities	$31M
NET CASH FROM FINANCING	$622M
FREE CASH FLOW	$229M
Net Change in Cash	$477M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.5B
Short-Term Investments	$1.6B
Net Receivables	$1.8B
Inventory	$1.7B
Other Current Assets	$422M
TOTAL CURRENT ASSETS	$8.0B
PP&E (Net)	$14.2B
Goodwill	$1.7B
Intangible Assets	$1.1B
Long-Term Investments	$367M
Tax Assets	$479M
Other Non-Current Assets	$6.3B
TOTAL NON-CURRENT ASSETS	$24.1B
TOTAL ASSETS	$32.1B
Account Payables	$1.2B
Short-Term Debt	$581M
Deferred Revenue	$30M
Other Current Liabilities	$292M
TOTAL CURRENT LIABILITIES	$2.5B
Long-Term Debt	$17.9B
Deferred Revenue NC	$15M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.8B
TOTAL NON-CURRENT LIABILITIES	$20.9B
TOTAL LIABILITIES	$23.4B
Common Stock	$3.9B
Additional Paid-In Capital	$0
Retained Earnings	$2.3B
Treasury Stock	-$304M
Accum. Other Comp. Income	$2.8B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.7B
Minority Interest	$27M
TOTAL EQUITY	$8.7B
TOTAL LIABILITIES & EQUITY	$32.1B
Total Debt	$19.8B
Net Debt	$17.4B