Raia Drogasil (RADL3) Q2 2026 earnings summary

Executive summary

• Achieved gross revenue of R$12.8 billion in 2Q26, up 18.3% year-over-year, with robust digital and retail growth across all categories and regions.

• Expanded to 3,687 pharmacies, opening 76 new stores and reaching 684 cities and 53 million active customers in the last 12 months.

• Digital sales surged 52%–55.2% year-over-year to R$3.9 billion, representing 31% of retail sales, with rapid delivery and high app penetration.

• National market share increased by 1.7 percentage points to 19.7%, with gains in all regions and 34.3% in São Paulo.

• Completed acquisition of Stix, consolidating Brazil's largest loyalty ecosystem.

Financial highlights

• Adjusted EBITDA reached R$1.0–1.02 billion, up 17.9%–18%, maintaining an 8.0% margin.

• Adjusted net income was R$432–433 million (including 4Bio), up 7.4% year-over-year, with a 3.4% margin; excluding 4Bio, net income was R$424 million (+23.4%).

• Free cash flow totaled R$550 million, with total cash generation of R$1.19 billion including 4Bio.

• Gross profit was R$3.7 billion, with a gross margin of 28.9%, slightly down 0.1 pp year-over-year.

• Adjusted EBT increased 33.4% to R$543 million, with a 4.2% margin.

Outlook and guidance

• Reiterated guidance of 330–350 gross pharmacy openings for 2026, targeting expansion to 4,000 units and maintaining a 10% annual growth pace.

• Continued focus on digital and omnichannel strategies to drive customer engagement, sales, and market share gains.

• GLP-1 segment expected to remain resilient, with volume offsetting price declines and new product launches anticipated.

• Ongoing focus on improving gross margin and SG&A efficiency, leveraging AI and digital investments.

• Positioned to capture growth from the emerging GLP-1 market, supported by a robust development pipeline and improving accessibility.