Q2 2026 Sigma Foods SAB de CV Earnings Call Transcript
Key Points
- Sigma Foods SAB de CV (ALFFF) delivered record second-quarter volume, revenues, and comparable EBITDA, showcasing the strength of its diversified business model.
- The company made significant progress in Europe with capacity recovery plans, including new production facilities in La Bureba and Valencia.
- In the United States, the acquisition of Roger Wood Foods complements ongoing organic initiatives and expands Sigma's participation in the sausage category.
- Sigma Foods returned capital to shareholders through cash dividends and opportunistic share buybacks, reflecting confidence in the business's underlying value.
- The company reported strong performance across regions, with Mexico, Europe, and Latin America contributing to a 17% increase in comparable EBITDA.
- Net financial costs increased to $123 million, primarily due to lower foreign exchange gains and a more stable Mexican peso.
- Accumulated net income decreased to $164 million from $209 million in the first half of 2025, impacted by the absence of extraordinary items like insurance reimbursements.
- The US market showed softer performance, with a need for improvement in year-on-year volume trends during the second half of 2026.
- SG&A expenses as a percentage of sales have been rising, driven by increased marketing spend and higher freight costs.
- The company's net leverage ratio remains slightly above the long-term target of 2.5 times, limiting the extent of share buybacks.
Good morning, and welcome to the Sigma Foods Second Quarter 2026 earnings conference call. (Operator Instructions) As a reminder, today's call is being recorded. The replay will be available on Sigma Foods Investor Relations website later today. I will now turn the call over to Hernan Lozano, Sigma Foods IRO.
Thank you, operator, and good morning to everyone joining us today. Further details regarding our second-quarter results can be found in the press release and earnings presentation that were distributed yesterday. Both documents are available in the Investor Relations section of our website.
Before we begin, please note that today's discussion will include forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties.
Actual results may differ materially. Sigma Foods undertakes no obligation to update these statements. It is my pleasure to
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