Teratosphaeria nubilosa severely affects young plantations of Eucalyptus globulus and E. maidenii in Uruguay. This work analyzes theeffect of this pathogen on the growth and survival of both species, based on data from a naturally infected field trial. The degree of defoliation was quantified at 21 months old, and its effects on diameter and mortality were evaluated at 62 months old. Defoliation in E. globulus was higher than in E. maidenii, with an average of 52.5 and 28.8%, respectively. Four years after the epidemic, defoliation classes of 40% or higher had significant growth losses on E. globulus, while losses in E. maidenii were significant when defoliation was 30% or higher. An average loss in DAP of 27.5 % in E. globulus and 12.5 % in E. maidenii was observed. The most affected trees, with 70-80% of defoliation in E. globulus and 60% in E. maidenii, had similar growth loss in both species, suffering a reduction in DAP of 43.9% and 42.5%, respectively. By contrast, the average mortality that occurred between 21 and 62 months old was significantly higher in E. globulus (16.7%) than in E. maidenii (3.3%). Mortality in the higher defoliation classes reached 44.7% on E. globulus and 47.1% on E. maidenii. Although E. globulus showed greater susceptibility to the disease and higher productivity losses, the significant defoliation and growth losses registered in E. maidenii suggest that this species is not as suitable as previously thought to replace E. globulus on sites with high risk of T. nubilosa.