Ag Growth International Q3 adjusted EBITDA fell 45% to CAD 39.01 million on Commercial weakness
Ag Growth International said Q3 2026 adjusted EBITDA fell 45% to CAD 39.01 million, primarily due to weakness in its Commercial segment. Free cash flow was CAD 26.75 million, and net debt declined for a second consecutive quarter to CAD 954.05 million.
1. Commercial weakness
Commercial revenue fell 29% to CAD 181.02 million, reflecting the wind-down of financed projects in Brazil, geopolitical disruption and cautious North American customer spending. Brazil earnings included CAD 5.4 million in bad debt expense and CAD 4.7 million in higher estimated project completion costs.
2. Farm and cash flow
Farm adjusted EBITDA rose 38% to CAD 37.88 million, supported by stronger portable-equipment demand, normalized dealer inventories and lower costs. Free cash flow reached CAD 26.75 million as working capital improved, while net debt fell for a second consecutive quarter to CAD 954.05 million.
