NEW YORK, Feb 12, 2026, 09:09 EST — Premarket
- Suzano ADRs barely budged in premarket action, following a 13.5% surge at Wednesday’s close.
- The company cleared a share repurchase plan for as many as 40 million shares, with the program stretching out until Aug. 10, 2027.
- Pulp prices and leverage are in focus for traders, with Suzano relying on cost controls and cash flow.
Suzano S.A. was flat in U.S. premarket action Thursday, coming off a sharp 13.5% jump in its ADRs the previous session. The Brazilian pulp producer had rallied on earnings and the announcement of a fresh buyback plan. Suzano’s last close landed at $11.18; quotes ahead of the open hovered near $11.19.
This jump is key for Suzano, which needs to show investors it can handle debt repayments while distributing cash. All this, despite pulp prices swinging around thanks to Chinese demand shifts, inventories, and currency fluctuations.
Suzano reported a record 50 billion reais in net revenue for 2025, driven by pulp and paper sales of 14.2 million tonnes—up 15% over 2024. Net income landed at 13.4 billion reais. The annual cash cost to produce pulp dropped to 817 reais per tonne, excluding downtime, marking the lowest figure seen since 2021. Net leverage finished December at 3.2 times. “Operational efficiency, cost management, and cash generation” remained priorities, according to chief executive Beto Abreu, even as pulp prices stayed “below historic averages.” suzano.com.br
Suzano’s board has greenlit a “February/2026 Program” to buy back as many as 40 million common shares—roughly 6.5% of its free float—according to a securities filing. Purchases are set for Brazil’s B3, executed at market prices. The buyback window opens Feb. 10, 2026, and extends through Aug. 10, 2027, giving Suzano 18 months to act. Funding will come from profits and capital reserves, and the company named XP Investimentos, Morgan Stanley, BTG Pactual, J.P. Morgan, Goldman Sachs, and Bradesco as broker intermediaries. SEC
It’s a hefty figure in theory, though just an authorization for now. Actual repurchases depend on where the stock trades, available cash, and how aggressively management continues to prioritize reducing leverage.
During the earnings call, Abreu dismissed concerns that cutting debt hinged on asset sales. “The deleverage will come from the operational side,” he told Bank of America’s Caio Ribeiro in response to a question. Investing.com
Pulp prices could make or break the market’s mood in the coming months. On Wednesday, benchmark kraft pulp prices in China nudged higher, yet they remain down compared to where they stood a month ago, Trading Economics data show.
Here’s the rub: if pulp prices dip or costs start climbing, the buyback might lose its spot near the top, and shares could lose steam in a hurry. There’s also the stronger Brazilian real—it squeezes exporters by pushing up local expenses, while revenues stick to dollars.
Eyes will be on buyback execution details and what Suzano says about demand and pricing trends heading into Q1. The company reports earnings May 7.
