Walmart's Mexico unit wipes $3.3 billion off market value after weak Q2 margins

Reuters
07-17
Walmart's Mexico unit wipes $3.3 billion off market value after weak <a href="https://laohu8.com/S/QTWO">Q2</a> margins

MEXICO CITY, July 17 (Reuters) - Shares in Walmart's Mexico and Central America unit, known as Walmex WALMEX.MX, slid 6% on Thursday morning, wiping off 60.9 billion pesos ($3.25 billion) from the firm's market capitalization after posting weaker-than-expected margins.

Walmex on Wednesday posted an earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 9.5%, 81 basis points below the year-ago quarter and the lowest since the same quarter in 2020.

($1 = 18.7527 Mexican pesos)

(Reporting by Kylie Madry and Aida Pelaez-Fernandez; Editing by Brendan O'Boyle)

((Kylie.Madry@thomsonreuters.com;))

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