Grupo Mateus, a Brazilian supermarket and wholesale chain, said on Thursday, 12 November 2026, that third-quarter net profit fell 36.1% to R$322.4 million (about US$57 million). Sales were flat, so the drop came from thinner margins rather than lost revenue.
Key Facts
—Who. Grupo Mateus, a food retailer and wholesaler listed on Brazil’s B3 stock exchange.
—What. Third-quarter net profit of R$322.4 million (about US$57 million).
—Number. Profit down 36.1% on an adjusted year-earlier base; revenue R$10.7 billion (about US$1.9 billion), down 0.4%.
—Why it matters. Shoppers are spending less in existing stores, which squeezes profit.
—Next. Investors will look for the company’s explanation on its earnings call.
—Power Index. Brazil ranks 1st of 14 in The Rio Times Latin America Power Index, with 74.2 points (November 2026 edition).
One of Brazil’s biggest grocery groups kept its sales steady but kept less of each real it took in.
What Happened
Net revenue came to R$10.7 billion (about US$1.9 billion), down 0.4% from the third quarter of 2025. Net profit of R$322.4 million (about US$57 million) was 36.1% lower than a year earlier on an adjusted basis.
Earnings before interest, tax, depreciation and amortisation (EBITDA), a measure of operating profit, were R$767.7 million (about US$137 million). That is 9.5% less than a year ago, and the margin slipped to 7.2% from 7.9%.
Same-store sales, which compare shops open in both periods, fell 4.7%. All conversions use the central bank’s 12 November reference rate of R$5.6143 per US$1, rounded.
Why It Matters
Falling same-store sales with flat total revenue means shops open in both periods sold less. When sales per shop shrink, fixed costs such as rent and wages take a bigger share, and profit drops faster than revenue.
Grocery sales are a close gauge of how households are coping. Readers can follow wider conditions on our Brazil news page and in business coverage.
Live Company IntelligenceGrupo Mateus S.A — the full investor dossier
What It Means for You
For a US investor, this is a Brazilian-listed stock with no US listing that we have confirmed, so exposure is mostly through emerging-market funds. For other readers, it is one more sign that Brazilian consumers are cautious.
What Is Not Known
The company has not explained the causes of the margin squeeze in the figures confirmed here. Guidance, store counts and any dividend decision are not known.
Frequently Asked Questions
Why did Grupo Mateus profit fall?
Third-quarter net profit fell 36.1% to R$322.4 million (about US$57 million) while revenue slipped 0.4%. EBITDA margin narrowed to 7.2% from 7.9%.
How much did Grupo Mateus earn in the third quarter?
Net profit was R$322.4 million (about US$57 million) on net revenue of R$10.7 billion (about US$1.9 billion). The company reported on 12 November 2026.
What are same-store sales?
They compare sales in shops open in both periods, which strips out the effect of new openings. Grupo Mateus said they fell 4.7% in the quarter.
Sources: Grupo Mateus investor relations, third-quarter 2026 results (Thursday, 12 November 2026); exchange rate from the Central Bank of Brazil.
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
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