Grupo Mateus (GMAT3) surged nearly 18% in August, defying broader market volatility that pushed the Ibovespa to a 7% loss on August 18 and a 1.2% monthly decline.
The rally followed the company's August 13 second-quarter 2026 earnings release, which highlighted operational efficiency gains and margin expansion. Revenue totaled R$ 9.85 billion, while gross margin increased to 23.5%, up 0.6 percentage points sequentially. Operational expenses declined from 17.4% to 16.4% of revenue, and adjusted EBITDA reached 7.3%, excluding non-recurring ICMS effects of R$ 35 million.
Cash flow metrics also improved, with the cash conversion cycle narrowing from 57 to 42 days. Same-store sales fell 8%, with approximately 85% of the decline attributed to the counter channel. The company's shares rose 0.42% on August 28, while the Ibovespa advanced 0.3%.
Grupo Mateus is included in three of the four AI-selected stock strategies available to InvestingPro subscribers through the ProPicks AI predictive analysis model. The August composition of these strategies contributed to the stock's outperformance during the month.
Management projected stronger third-quarter 2026 sales, citing a more favorable comparison base, a gradual rebalancing of the counter channel, and promotional campaigns marking the company's 40th anniversary.
