Carrefour (CA FP) Q3 2026 (EUR): Revenue 22.7bln (exp. 22.71bln, prev. 22.6bln Y/Y); cuts outlook amid the unrest in France
Carrefour lowered its FY outlook for operating-margin growth, adjusted EPS, net FCF and CAPEX; its report described solid European consumer momentum alongside energy-driven inflation pressure.
News detail
Commentary: In Europe, consumer momentum remained solid, despite a rebound in headline inflation driven by higher energy costs, which weighed on household purchasing power, while food inflation remained contained. FY Guidance: Growth in ROI with 0 to 15bps growth in operating margin (prev. +25bps) Stable to slight growth in adj. EPS vs. 2025 (prev. high single-digit growth) Slight decline in net FCF (prev. slight growth). Against this backdrop, the Group is reducing its investments in France until the end of the year and is now targeting annual CAPEX of EUR 1.6bln (prev. 1.7bn).
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