Dimed (PNVL3) Q2 2026 earnings summary

Executive summary

• Net revenue for the first half of 2026 reached R$2,958.8 million, up 15% year-over-year, with net income of R$63.6 million, a 26% increase compared to the same period in 2025.

• Retail gross revenue in 2Q26 was R$1.63 billion, up 15.8% year-over-year, driven by digital acceleration and robust performance across all categories.

• Digital sales reached a record 33.7% of retail gross revenue, with app sales surging 155.9%.

• Same-store sales grew 13.5% and mature store sales 11.4%, both above inflation.

• Seven new stores were opened in Q2 2026, totaling 31 new stores in the last 12 months, supporting continued expansion.

Financial highlights

• Consolidated net revenue: R$2,958.8 million in H1 2026 vs. R$2,572.4 million in H1 2025.

• Adjusted EBITDA rose 26.4% to R$88.5 million, and adjusted net income increased 39.1% to R$38.9 million.

• Earnings per share: Basic R$0.43, diluted R$0.42 for H1 2026.

• Cash and cash equivalents at period end: R$59.9 million; short-term investments: R$235.2 million.

• Free cash flow: R$1.9 million; sixth consecutive quarter of positive generation.

Outlook and guidance

• Management does not expect material impacts from the ongoing Brazilian tax reform in 2026.

• Continued focus on digital expansion, store productivity, and margin improvement.

• Plans to accelerate investments in store openings and renovations in the second half of 2026.