Walmex stock posts Q3 profit drop as digital sales accelerate

Walmart de México y Centroamérica reported third-quarter results on October 27, 2026, showing continued digital momentum but weaker profitability. According to Morningstar, citing Dow Jones, revenue rose 3.0% year over year to MXN 248.83 billion in the July-September quarter, while net profit declined 6.1% to MXN 11.03 billion.

Digital growth meets higher spending

Expense growth outpaced sales growth. General expenses increased 5.7% and reached 17.4% of sales, compared with 17.0% a year earlier. Walmex said the increase largely reflected investments in new stores, e-commerce, technology and staffing, partly offset by productivity and efficiency measures.

Operating profit fell 1.8% to MXN 18.68 billion, while EBITDA edged up 0.4% to MXN 25.37 billion. The resulting pressure reduced the EBITDA margin by 30 basis points to 10.2%, highlighting the near-term cost of the retailer's expansion and digital investment program.

Digital channels remained a key counterweight. E-commerce sales in Mexico increased 16%, while goods delivered from stores rose 21%. In Mexico, same-store sales gained 1.7%, supported by a 1.6% increase in the average ticket, while customer traffic was little changed. Central American same-store sales rose 4.8%.

Guidance remains unchanged

Management reaffirmed its 2026 forecast for consolidated sales growth of 3.5% to 4.5% in constant currency. The company expects the EBITDA margin to finish slightly below the prior year's level. For investors, the unchanged outlook indicates that management is maintaining its growth plan despite the quarterly earnings decline, while margin performance remains the central near-term issue.

Walmex opened 42 stores during the quarter, including 39 in Mexico and three in Central America. The expansion adds to the investment base that is supporting future sales but also contributes to the expense pressure visible in the latest results.

Walmex stock traded at 2.41 euros on Lang & Schwarz at 12:27 CET on Monday, November 2, 2026. Investors can follow the real-time quote of Walmex stock.

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