Q2 2026 Americanas SA - Em Recuperacao Judicial Earnings Call (English, Portuguese) Transcript
Key Points
- Gross revenue grew 9.3% in the first half of 2026, with same-store sales up 17.8% in January and double-digit growth in May and June.
- Gross profit margin improved by 0.5 percentage points to 20%, driven by strong performance in physical stores.
- Digital O2O (online-to-offline) sales surged 74.6% in the semester, contributing to overall growth.
- Adjusted EBITDA improved by BRL251 million year-over-year, reflecting a significant operational turnaround.
- The company reduced general expenses by 4.5% and improved employee productivity by 12%, enhancing operational efficiency.
- The company still does not generate a net profit, with adjusted EBITDA remaining negative at BRL297 million.
- Operational cash flow is still negative, though the consumption of cash has been decreasing semester over semester.
- The company faces ongoing extraordinary expenses, including BRL430 million used to reduce liabilities, impacting cash generation.
- Hortifruti Natural da Terra stores are being sold due to deficits, and the remaining six stores are still under negotiation.
- The company is still in judicial recovery, with the first debenture payment of BRL19 billion due in October 2026, adding financial pressure.
Good morning, everyone, and thank you for waiting. Welcome to the Americanas SA conference call to discuss the company's second-quarter 2026 results. I would like to highlight for those who require simultaneous interpretation that this feature is available on the platform. To access it, simply click on the interpretation button through the global icon at the bottom of the screen and select the preferred language, Portuguese or English. For those listening to the conference call in English, there is an option to mute the original Portuguese audio by clicking on mute original audio.
Please note that this conference call is being recorded and it will be made available on the company's Investors Relations website where the complete earning release materials can also be found. This presentation can also be downloaded through the chat icon, including the English version. (Operator Instructions)
We would like to emphasize that the information contained in this presentation, as well as any statements that may be made during the video conference regarding Americanas' business outlook, projections
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