Walmart de México reports third-quarter profit decline

Walmart de México y Centroamérica (Walmex) reported a 6.1% decrease in net profit for the third quarter, falling to 11.03 billion pesos (approximately US$590 million). This result missed analyst expectations of 12.26 billion pesos.

While revenue grew by 3.0% to 248.83 billion pesos, the company faced pressure from rising administrative and distribution costs, which increased to 17.4% of sales. Higher tax rates due to one-time adjustments also impacted the bottom line. The EBITDA margin saw a slight decline of 30 basis points to 10.2%.

Despite the profit dip, management highlighted operational progress. Comparable sales in Mexico rose by 1.7%, and customer frequency remained stable for the first time in nine quarters. In Central America, comparable sales grew by 4.8%. Digital growth remains a key driver, with online merchandise value in Mexico increasing by approximately 15% and store-to-home deliveries rising by over 20%. Walmex confirmed its 2026 sales growth guidance of 3.5% to 4.5% in constant currency.