Uniao Pet Participacoes (AUAU3) Q1 2026 earnings summary

Executive summary

• First quarter post-merger delivered strong operational and financial performance across brands and channels, before full synergy capture.

• Integration plan is progressing on schedule, with over 600 activities underway and robust governance supporting execution, including high adherence to the 100-day plan.

• Revenue growth and operating leverage driven by omnichannel strategy, private label expansion, and disciplined efficiency.

• Gross revenue grew 10.2% year-over-year to R$1.11 billion, driven by B2C and digital sales, with continued expansion in physical stores and private-label brands.

• Net income surged 942.2% year-over-year to R$7.9 million, reflecting operational efficiency and margin improvement.

Financial highlights

• Gross revenue reached R$2.0 billion, up 9.7% year-over-year; Petz +10.2%, Cobasi +9.6%.

• Adjusted EBITDA grew 37.8% year-over-year to R$166.6 million, with a margin of 9.8%.

• Adjusted net profit increased 45.3% year-over-year, with net margin up 0.8pp.

• Gross margin expanded by 0.4 percentage points to 46.8%.

• Digital channel revenue grew 12.7%, offline channel grew 8%.

Outlook and guidance

• Guidance reaffirmed for capturing R$200–260 million in incremental EBITDA annually over five years, with 0–10% expected capture in 2026.

• Five-year synergy capture plan in place, with major gains contingent on ERP migration and legal entity consolidation.

• Store expansion pace in 2026 to match 2025, with acceleration planned for 2027.

• Management emphasizes sustainable growth, operational efficiency, and margin preservation, with continued focus on digital and private-label expansion.