Grupo Mateus stock falls 1.02 percent as margins face pressure

Published on 09/28/2026 at 17:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Grupo Mateus stock traded at BRL 4.85 on September 28, 2026, while second-quarter revenue rose 12.2 percent year over year. Net income fell 39.3 percent to BRL 237.0 million.

Grupo Mateus, BRGMATACNOR3, Illustration mit AI erstellt.

Grupo Mateus stock (ISIN BRGMATACNOR3) was trading at BRL 4.85 on B3 on September 28, 2026, down 1.02 percent from the prior close of BRL 4.90. The market is weighing double-digit revenue growth against a sharp decline in quarterly profit and an ongoing operational restructuring.

Revenue grows while profit contracts

In the second quarter of 2026, Grupo Mateus generated net revenue of BRL 9.85 billion, up 12.2 percent from the same period a year earlier, according to IG on September 9, 2026. Gross profit reached BRL 2.31 billion, an increase of 10.4 percent over the same quarter.

The pressure appeared below gross profit. Net income was BRL 237.0 million in Q2 2026, down 39.3 percent year over year, although it rose 11.2 percent from Q1 2026, while same-store sales declined 8.0 percent, IG reported.

Restructuring changes the growth model

The company closed 28 stores and reduced its workforce by 6,600 employees between 2025 and the first quarter of 2026, with the changes concentrated in the Eletro Mateus business, according to IG. The figures show the central tradeoff for the retailer: sales are still expanding, but the earnings base is absorbing restructuring costs and weaker productivity in mature stores.

Grupo Mateus also completed a share buyback program on September 6, 2026, purchasing 5,000,000 ordinary shares at market prices, according to Visno Invest. The stated purpose was to support long-term share-based compensation obligations.

Stock trades below yearly high

TradeMap identifies Grupo Mateus as GMAT3, listed on B3 in BRL, with activities spanning food retail, wholesale formats, furniture and appliances, according to TradeMap. The stock's September 28 intraday range was BRL 4.79 to BRL 4.90, with volume of 562,700 shares, while its 52-week range stood at BRL 3.43 to BRL 7.02.

At BRL 4.85, Grupo Mateus had a market capitalization of BRL 11.2 billion on September 28, 2026. For investors, the key test is whether revenue growth can translate into recovering margins after the store closures and portfolio changes.