El Puerto de Liverpool Revenue Reaches 49.115 Billion Pesos, Missing Estimates
Key Facts
Mexican retailer El Puerto de Liverpool reported revenue of 49.115 billion pesos in the third quarter of 2026, up from 48.062 billion in the same period last year, according to company results cited by MarketScreener from S&P Capital IQ. Revenue fell short of Investing.com’s estimate of 49.62 billion pesos, according to the results table published on October 27. However, the table did not show an actual revenue figure at the time it was viewed, so it alone does not establish the size of the gap between the result and the estimate. The figures show year-over-year growth of about 2.2%, with a clear divergence in performance across the company’s businesses. The company said consumers were cautious during the quarter and sales growth remained modest amid persistent macroeconomic headwinds in 2026.
Real estate led revenue growth, rising 16.3% year over year, followed by financial services, up 6.9%, while retail revenue increased just 1.1%, the company said. The divergence leaves stores weaker than the other two businesses, although still growing. At existing stores, Liverpool sales rose 0.8%, while Suburbia sales fell 0.5%. The company attributed comparable-store performance at both brands to higher average transaction values. The results are consistent with management’s description of sales growth as modest in a cautious consumer environment.
Digital channels continued to expand, with the gross merchandise value of digital sales rising 8.7% during the quarter. Digital sales accounted for 30.3% at Liverpool, compared with 7.4% at Suburbia, the company said. But the company said digital business growth since the start of the year had slowed in part because of the transition to a new e-commerce platform. In retail, the gross margin widened 186 basis points to 32.8%. The company linked the improvement to a better sales mix, disciplined promotions and lower costs for imported goods as the peso strengthened.
Improved margins flowed through to EBITDA, which rose 8.5% to 6.929 billion pesos in the quarter. The EBITDA margin climbed to 14.1%, from 13.3% a year earlier, according to the company’s results. The company maintained its focus on merchandise margins and expense control to support operating profit growth. The available information here does not include a figure for net income that would allow its direction to be determined or explained. The results therefore show a mix of limited sales growth and improved operating profitability and margins.
In financial services, the share of accounts more than 90 days past due was 5.2%, up 80 basis points year over year. Portfolio coverage by provisions rose to 12.0%, compared with 10.7% a year earlier, the company said. The figures show delinquencies rising alongside increased coverage, while the financial business recorded revenue growth of 6.9%. For the nine months ended in September, revenue totaled 151.823 billion pesos, compared with 150.013 billion in the same period a year earlier. The nine-month performance places quarterly growth within a broader pattern of limited annual revenue expansion.
Markets in Mexico are awaiting the release of the preliminary estimate of third-quarter GDP on October 30, 2026, according to the National Institute of Statistics and Geography’s calendar. The data are due after the company described the consumer environment as cautious and linked modest sales growth to persistent macroeconomic pressures during 2026. Mexico also recorded year-over-year export growth of 37.9% and import growth of 33.1% in September, according to the institute. These indicators provide economic context for the period covered by the company’s results, but do not by themselves determine their impact on retail sales. The upcoming GDP report is the next milestone in tracking Mexico’s economic performance during the quarter.