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Metro
Metro (MRU) investor relations material
Metro Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary27 Jan, 2026
Executive summary
Q1 sales grew 3.3% year-over-year to CAD 5.3 billion ($5,285.8 million), with adjusted EBITDA up 4.7% and adjusted EPS up 5.5%.
Net earnings were $226.3 million, down 12.8% year-over-year, while adjusted net earnings rose 1.3% to $248.7 million, reflecting one-time costs and tax adjustments.
Operations at the Toronto frozen food distribution center have fully resumed after a costly temporary shutdown.
Dividend per share increased 10.1% to CAD 0.4075 ($0.4075).
Online sales surged 25.8%, driven by third-party marketplaces and expanded delivery services.
Financial highlights
Adjusted EBITDA reached CAD 504.2 million, up 4.7% year-over-year, representing 9.5% of sales.
Adjusted net earnings were CAD 248.7 million, up 1.3% year-over-year; adjusted EPS was CAD 1.16, up 5.5%.
Gross margin was CAD 1.04 billion or 19.7% of sales, flat year-over-year.
Operating expenses, excluding freezer costs, grew 1.6% year-over-year, representing 10.2% of sales; including freezer costs, operating expenses rose to 10.5%.
Capital expenditures totaled CAD 61.9 million, down from CAD 89.3 million last year.
Outlook and guidance
CapEx for fiscal 2026 expected to reach approximately CAD 550 million, focused on retail network investment.
No specific margin or EPS guidance provided, but management remains committed to long-term financial objectives.
Plans to open about a dozen new or converted discount stores and several major renovations in 2026.
Continued emphasis on value, private labels, and loyalty programs amid a challenging economic environment.
What is the total cost of the Toronto freezer issue?
Detail discount banner expansion plans
Update on ongoing class action litigation
Freezer DC resolution and future risk
Pharmacy automation: expected margin improvement?
GLP-1 generics: Pro Doc's strategy?
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Next Metro earnings date
Q2 202616 Apr, 2026
Metro
Next Metro earnings date
Q2 202616 Apr, 2026
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Frequently asked questions
Metro Inc is a food and pharmaceutical distribution company operating supermarkets, discount stores, and drugstores under various banners. It serves retail and wholesale customers primarily in Quebec and Ontario. The company is headquartered in Montreal, Canada, and its shares are listed on the TSX.
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