© Reuters. The logo of Walmart is pictured outside a store in Mexico City, Mexico July 27, 2023. REUTERS/Henry Romero/File photo
MEXICO CITY (Reuters) -Walmart’s Mexico unit on Wednesday posted a 12.2% year-on-year jump in its third-quarter net profit, driven mainly by stronger sales.
Walmart (NYSE:) de Mexico, or Walmex, the biggest retailer in Mexico, posted net profit of 13.63 billion pesos ($782 million).
Quarterly revenue at the chain rose 7.7% from the year-earlier period to reach 213.07 billion pesos, missing slightly the LSEG estimate of 213.34 billion pesos.
Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter rose 8.5% to 23 billion pesos.
Walmex’s earnings per share hit 0.78 pesos, beating the LSEG estimate of 0.74 pesos.
Sales increased 9.5% in Mexico and 9% in Central America, with the retailer adding 24 new stores in Mexico and another three in Central America.
Ahead of the results, analysts at Barclays said they expected solid same-store sales, but some negative impact in Central America from a strong Mexican peso.
($1 = 17.4279 Mexican pesos at end-September)
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