4Q23 results: Magazine Luiza (MGLU3) and the companies that affect your pocket this week; see what to expect

The earnings season 4Q23 (fourth quarter of 2023) will rock the second half of March. In the third full week of the month, 24 more companies release balance sheets, with emphasis on Magazine Luiza (MGLU3) It is Americans (AMER3).

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For the e-commerce Brazilian, the BTG Pactual wait a trade-off between growth and profitability in the sector’s recurring dilemma. Luiz Guanais and team see three trends:

• slower gross merchandise volume (GMV) growth, reflecting less disposable income and capital constraints;
• focus on profitability and cash preservation; It is
• greater market consolidation among some players — a process that should accelerate due to the unfavorable macro scenario.

Regarding Magalu, BTG expects online GMV to grow 0.5%, with 3P volume (retailer carries out the sales and delivery process) increasing 12% and 1P (retailer sells to the marketplace, which sells and delivers) falling 6%. Meanwhile, the Ebitda margin should reach 6.8%.

A Genial Investimentos, in turn, projects a slowdown in revenue growth. But despite this, Iago Sousa, Nina Mirazon and Vinicius Esteves believe that profitability should take the spotlight this quarter.

“Since the 3rd quarter, we see Magalu at a pace of strong gross margin growth and EBITDA recovery. With sales of marketplace gaining even more penetration in the mix in this last quarter, we understand that there is room for the company to present a historic 4th quarter in terms of profitability”, they say.

See the 4Q23 results schedule for the week