Earnings Data
Report Date
Aug 18, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
0.57Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a cautiously optimistic tone. The company delivered revenue growth across segments (consolidated revenues +6.3% in Q4; +5.2% FY), strong Food Retail and pharmacy unit performance, major logistics investments (new pharma DC) and improved liquidity (PEN 1.9bn cash, successful refinancings). However, material challenges remain: Shopping Malls experienced a significant EBITDA decline in 2025 (-15.4%) tied to the Turkiye incident, the Pharma distribution unit is intentionally shrinking (expected PEN 200m FY impact), margins face pressure from new openings and wage/logistics costs, and there were one-time refinancing costs that increased financial expenses. Management provided clear guidance and a constructive plan for 2026 (high single-digit revenue and EBITDA growth excluding the distribution decline), supported by continued store openings and CapEx. Overall, positives (growth, cash position, strategic investments, ESG progress) outweigh the negatives, but notable segment-specific headwinds persist.Company Guidance
Consolidated Revenue Growth
Consolidated revenues grew 6.3% in Q4 2025 and 5.2% for full-year 2025 despite extraordinary impacts; management expects high single-digit consolidated revenue growth in 2026 (excluding an anticipated PEN 200 million decline in distribution revenues).
Adjusted EBITDA and Net Income Performance
Adjusted EBITDA rose 4.9% in Q4 2025 (full-year adjusted EBITDA roughly flat vs. 2024). Net income in Q4 2025 increased 14.1% to PEN 335 million, aided by net FX gains (noncash).
Strong Food Retail Results and Store Expansion
Food Retail posted top-line growth of 7.4% in Q4 2025 and 7.1% for the year. Same-store sales: Mass >10%, Makro ~6%, Plaza Vea ~2%. Food Retail gross profit increased 9.8% with a gross margin of 24% and adjusted EBITDA up 7.9% in Q4. Net openings: ~300 net new Mass stores and 2 new Plaza Vea stores in 2025 (83 net Mass in Q4).
Pharma Growth, Network Expansion and Cash Generation
Pharmacies unit achieved revenue growth of 6.2% in Q4 with same-store sales +5.4%; the company opened ~109 net new pharmacies in 2025 (23 in Q4) and reached ~2,500 pharmacies nationwide. Pharma delivered positive adjusted EBITDA (Q4 +1.5%) and significant cash flow generation.
Logistics and Distribution Investments
Opened a state-of-the-art pharma distribution center (85,000 sqm, ~1 million units/day capacity) adjacent to main retail DC; opened 9 distribution centers dedicated to Mass to support scale and future growth—strengthening logistics platform to sustain expansion.
CapEx and Investment Plan
Invested PEN 401 million in CapEx in Q4 and ~PEN 1.5 billion for full-year 2025. Management plans ~PEN 2.7 billion in CapEx over the next 3 years (nearly 50% allocated to Food Retail) and expects to open >300 stores across formats in 2026 (including ~200 Mass and ~100 pharmacies).
Improved Liquidity and Capital Structure Execution
Consolidated cash position ended 2025 at PEN 1.9 billion (above prior-guidance PEN 1.5 billion). Refinanced ~PEN 2 billion of bank debt, replaced Shopping Mall bonds with new issuances ~USD 500 million aggregate, resulting in short-term debt representing ~5% of total debt.
Manageable Leverage Metrics
Consolidated net debt was PEN 5,110 million as of Dec-2025 with net debt / adjusted EBITDA ~1.7x. Segment net debt metrics: Food Retail net debt PEN 2,370m (ND/EBITDA 2.1x), Pharma net debt PEN 1,409m (ND/EBITDA 1.0x).
ESG and Social Impact Achievements
Included in S&P Global Sustainability Yearbook for the 5th consecutive year; donated >18 million food rations (~PEN 72m); Peru Pasion supported ~290 entrepreneurs generating >PEN 36m in SME sales; evaluated 795 suppliers (66% coverage); reduced carbon footprint by 12% and saved ~PEN 4m in energy.
Shopping Malls Progressive Recovery Indicators
Shopping Malls revenues showed slight growth in Q4 (+0.4%) with tenant sales up 7.5% in the quarter and gross margin ~66.8%; management expects Shopping Malls adjusted EBITDA to return close to 2024 levels in 2026 (recovery from a low comparison base).
INREF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
INREF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $26.84 | $26.84 | 0.00% |
Feb 27, 2026 | $26.84 | $26.84 | 0.00% |
Nov 13, 2025 | $26.84 | $26.84 | 0.00% |
Aug 13, 2025 | $26.84 | $26.84 | 0.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does InRetail Peru Corp. (INREF) report earnings?
InRetail Peru Corp. (INREF) is schdueled to report earning on Aug 18, 2026, After Close (Confirmed).
What is InRetail Peru Corp. (INREF) earnings time?
InRetail Peru Corp. (INREF) earnings time is at Aug 18, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
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What is INREF EPS forecast?
Currently, no data Available