Q2 2026 Becle SAB de CV Earnings Call Transcript
Key Points
- Becle SAB de CV (BCCLF) reported mid-single-digit organic volume growth outside of the US, demonstrating resilience in challenging market conditions.
- The company maintained a strong EBITDA margin on a constant currency basis, indicating solid operational efficiency.
- Becle SAB de CV (BCCLF) continues to gain market share in Mexico across both the tequila category and total spirits in both volume and value.
- The ultra-premium segment of Becle's portfolio is growing strongly, supporting the company's mix as it scales.
- Becle SAB de CV (BCCLF) has a strong balance sheet with adjusted net leverage of 1.1 times, providing financial flexibility for future growth opportunities.
- Consolidated net sales decreased by 13.9%, primarily due to foreign currency effects from the appreciation of the Mexican peso against the US dollar.
- Gross profit decreased by 21.2% in the second quarter, with gross margin declining from 55.1% to 50.4%, impacted by unfavorable foreign currency effects and adverse geographic mix.
- Shipments in the US and Canada declined by 8.7% due to ongoing distribution transition and inventory reductions.
- The tequila category in the US experienced a decline, with Proxima Tequila volumes down 6.6% against an industry decline of 4.1%.
- The competitive environment remains challenging, with aggressive pricing strategies from competitors impacting market dynamics.
Good morning and thank you for joining Becle's second quarter unaudited financial results call. During this call, you may hear certain forward-looking statements. These statements may relate to our future prospects, developments, and business strategies, and may be identified by our use of terms and phrases such as anticipate, believe, could, estimate, expect, intent, and similar terms and phrases, and may include references to assumptions.
Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy, and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual results may differ materially from those in forward-looking statements.
Before we begin, we would like to remind you that the figures discussed on this call were prepared in accordance with International Financial Reporting Standards, or IFRS, and published in the Mexican Stock Exchange. The information for the
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