On Tuesday, August 4, 2026, GPA (PCAR3) reported a consolidated net loss of R$ 252 million in the second quarter of 2026, of which R$ 204 million were related to continuing operations and R$ 49 million to discontinued operations. In the same period of 2025, the consolidated loss had been R$ 217 million.
In 2Q26, net revenue totaled R$ 4.228 billion, down 9.6% compared to 2Q25, while gross revenue was R$ 4.713 billion, a decline of 7.0%. Gross profit reached R$ 1.288 billion, virtually flat, with a gross margin of 30.5%, 3.1 percentage points higher than the previous year.
Consolidated adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) came to R$ 450 million in the quarter, an increase of 7.3% compared to the R$ 419 million a year earlier, with an adjusted EBITDA margin of 10.6%, versus 9.0% in 2Q25. Selling, general and administrative expenses totaled R$ 883 million, down 2.6% year over year.
In financial results, GPA recorded net expenses of R$ 385 million already including the effects of IFRS 16, an increase of 26.4% compared to the R$ 304 million in 2Q25. Cash and cash equivalents ended June 2026 at R$ 646 million, versus R$ 1.769 billion a year earlier.
Net debt, excluding the impact of Stix and including non-advanced credit card receivables, stood at R$ 3.647 billion at the end of 2Q26, compared to R$ 2.776 billion in 2Q25, which represents leverage of 3.9 times consolidated adjusted EBITDA pre-IFRS 16 for the last 12 months. On a pro forma basis, considering the terms of the out-of-court reorganization plan and the sale of FIC, net debt would be R$ 1.182 billion and leverage would fall to 1.3 times.
