Correios Reports R$ 5.55 Billion Loss for First Half of 2026

The Brazilian state postal service, Correios, reported a net loss of R$ 5.55 billion for the first half of 2026. This represents a nominal increase in losses compared to the R$ 4.26 billion deficit recorded during the same period in 2025. Despite the overall semester loss, the company saw a reduction in losses during the second quarter of 2026, which totaled R$ 2.4 billion. This figure is a 5.5 percent decrease from the R$ 2.53 billion loss in the second quarter of 2025 and a 24.4 percent decrease from the R$ 3.16 billion loss recorded in the first quarter of 2026.

The company is currently undergoing a restructuring plan under the leadership of President Emmanoel Rondon, who took office in September 2025. This plan includes reviewing expenses and contracts, increasing operational efficiency, and implementing voluntary resignation programs. These measures contributed to a reduction in personnel costs, which fell to R$ 6.9 billion in the first half of 2026 from R$ 7.2 billion in the same period last year. However, the company faced increased costs from a R$ 12 billion loan contracted last year and an increase in provisions for legal losses.

Revenue from sales and services for the first half of 2026 was R$ 7.87 billion, a 3.9 percent decline from the R$ 8.2 billion earned in the first half of 2025. While international shipping revenues dropped significantly, the logistics sector saw growth, increasing from R$ 205 million to R$ 423 million. To address its financial crisis, the company is in advanced stages of structuring a new R$ 7 billion loan with the Union acting as guarantor. Additionally, the government has committed to a capital injection of R$ 6 billion by the end of 2027.

Outlets with a center lean focused on the operational details of the recovery and the specific impact of cost reductions. The center left outlet emphasized the historical nature of the crisis, noting that this is the 16th consecutive quarter of deficits and highlighting the impact of the Remessa Conforme tax program on international revenue.