Q3 2024 Betterware de Mexico SAPI de CV Earnings Call Transcript
Key Points
- Betterware de Mexico SAPI de CV (BWMX) reported a 6.6% year-over-year increase in net revenues and a 7.4% growth over the first nine months of 2024.
- Adjusted EBITDA surged by 11.7%, highlighting strong operational performance despite challenging macroeconomic conditions.
- The company announced its 19th consecutive dividend payment, reflecting a commitment to shareholder value.
- New product categories, particularly in wellness, experienced double-digit growth, contributing to overall revenue increases.
- The company successfully launched a new Shopify Plus platform in the US, expected to positively impact future growth.
- The depreciation of the Mexican peso and rising freight costs negatively impacted gross margins, which fell to 54.8% from 56.2% last year.
- Adjusted net income decreased by 8.4% compared to the third quarter of 2023, mainly due to increased tax provisions.
- The sale of a former headquarters resulted in a non-cash accounting loss of MEX435 million, affecting financial statements.
- Temporary stockouts in Q2 and gross margin pressure in Q3 are expected to place EBITDA at the lower end of the guidance range.
- The introduction of the new Shopify platform temporarily affected associate activity in September due to user adoption challenges.
Thank you and welcome forward to joining Befra third quarter, 2024 earnings conference call.
Speaking on today's call are Befra's, chief Chairman, executive Chairman Luis Campos, Chief Executive Officer Andres Campos, and Chief Financial Officer Alejandro Ulloa.
Before beginning the remarks, the company would like to remind you that today's call, a good forward-looking statements which are subject to various risks and uncertainties that could cause actual results to differ materially from expectations.
Any such statements should be considered in conjunction with the cautionary statements and the safe Harbor statement in the earnings release issued yesterday. And risk factors discussed in reports filed with the SEC pay for assumes, no obligation to update any of these forward-looking statements or information, a reconciliation of and other information regarding non GAAP financial measures discussed on today's call can be found in the earnings release as well as the investors section of the company's website.
Now, I would like to turn the call over to the company's
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
