Assaí (ASAI3) reported reported net income of R$ 427 million in 3Q26 (pre-IFRS 16 view, which excludes the effects of the lease accounting standard), up 119% from 3Q25. Recurring net income was R$ 248 million, an increase of 55.2%. The recurring result excludes R$ 179 million in extemporaneous PIS/COFINS tax credits.
Gross revenue reached R$ 21.3 billion (R$ 21,325 million), up 2.7% from 3Q25. Net revenue was R$ 19 billion, up 0.2%. Same-store sales grew 0.1%, and customer traffic rose 2.1%, with more than 40 million customers per month. The company attributes its sales performance to a constrained consumer environment, with high household debt and high interest rates.
Gross margin, excluding the PIS/COFINS credits, was 17.2%, up 0.45 percentage point. Expenses totaled R$ 2.2 billion, up 4.2%, below the accumulated 12-month inflation of 4.4%. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was R$ 1.1 billion (R$ 1,081 million), with a stable margin of 5.7%. Net financial result was negative R$ 551 million, an improvement from negative R$ 604 million in 3Q25.
Leverage, measured as net debt plus discounted receivables over adjusted EBITDA, fell to 2.15x, from 3.03x in 3Q25 and 2.37x in 2Q26. Net debt totaled R$ 10.8 billion. Operating cash generation was R$ 3.3 billion over the last 12 months, and total cash availability closed at R$ 6.8 billion, up 12.2% from 3Q25.
In October, same-store sales grew 3.9%, during the 52nd anniversary campaign. The company also announced the purchase of 18 fuel stations located at stores in São Paulo, with its own operation expected to begin in August 2027.
