Americanas (AMER3) Q1 2026 earnings summary

Executive summary

• Consolidated gross revenue grew up to 19.8% year-over-year, reaching as high as R$3.7 billion in 1Q26, with same-store sales up 22.2% and digital/020 sales surging 50–56% year-over-year, driven by omnichannel strategy and strong Easter sales.

• Adjusted EBITDA improved by R$41 million year-over-year to R$15 million, with adjusted EBITDA ex-IFRS 16 at -R$186 million, a R$56 million improvement.

• Net loss reduced by 34% year-over-year to negative R$329 million, reflecting improved financial discipline and efficiency.

• SG&A as a percentage of net revenue decreased by 4.3 percentage points year-over-year, reflecting cost discipline and operational efficiency.

• The company filed to exit judicial reorganization in March 2026 after fulfilling plan obligations, with favorable opinions from the Public Prosecutor and Judicial Administrator.

Financial highlights

• Gross revenue reached up to R$3.7 billion (+19.8% YoY); net revenue up to R$3.1 billion (+20.2% YoY); gross profit up to R$834 million (+16.6% YoY); gross margin ranged from 27.0% to 28.3%.

• Same-store sales grew 22.2% year-over-year and 7.8% over the four-month period.

• SG&A expenses increased 3.9% year-over-year, but as a percentage of net revenue, improved by 4.3 percentage points to 27.6%.

• Net loss for the period was R$329 million, improved from a loss of R$496 million year-over-year.

• Financial services revenue grew 29%, insurance sales increased 9%, and financial result improved by R$48 million year-over-year.

Outlook and guidance

• Strategic plan for 2026–2029 focuses on operational excellence, commercial transformation, digital growth, and sustainable margin improvement.

• Ongoing investment in digital transformation, loyalty programs, and new revenue streams such as financial services and advertising.

• Management expects continued operational improvements and cash generation, but no formal guidance or forecasts provided for future quarters.

• Upcoming events such as Black Friday, Christmas, and global football tournaments are expected to drive further sales growth.