Brazilian high-end real estate developer Lavvi Empreendimentos Imobiliários (LAVV3) reported mixed second-quarter (2Q26) results, with net income falling 30% year-over-year (YoY) to R$ 82.6 million, even as key operational metrics like sales and gross margins showed strength. The profit contraction was primarily driven by a significant ramp-up in commercial and financial expenses associated with the launch of the company’s largest-ever project, *Jardim da Hípica*. Following the earnings release, the stock experienced a notable dip, reflecting investor concern over the near-term bottom-line pressure, with the B3-listed shares trading near yesterday's close.