Q1 2026 Grupo Carso SAB de CV Earnings Call Transcript
Key Points
- Grupo Sanborns division showed a revenue increase of MXN 574 million, indicating strong commercial activity.
- The Pipelines division contributed approximately 67% of revenues, showcasing growth in this segment.
- Zamajal's revenues increased significantly to MXN 2.84 billion, driven by the Ixachi project.
- Grupo Carso completed the acquisition of an additional stake in the Zama field, enhancing its strategic positioning in hydrocarbons.
- The company entered into a binding agreement to sell part of its US cement business for approximately USD 310 million, expected to close in the second quarter of 2026.
- Consolidated operating income decreased to MXN 2.95 billion from MXN 3.43 billion due to the conclusion of major infrastructure projects and inflationary pressures.
- EBITDA declined to MXN 4.86 billion from MXN 5.45 billion in the first quarter of 2025.
- Grupo Condumex experienced a decline in sales due to the appreciation of the peso and inflationary pressures.
- Carso Energy's revenues decreased by 13.5%, impacted by foreign exchange effects and lower electricity sales in Panama.
- Elementia and Fortaleza's sales decreased by 8.6%, mainly due to lower activity in the US market and peso appreciation.
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Good morning, everyone, and welcome to this webinar to discuss Grupo Carso's results for the first quarter of 2026.
Before we begin, I would like to remind you that this event is being recorded and that information discussed today may include forward-looking statements regarding the company's financial and operating performance. All projections are subject to risks and uncertainties, and actual results may differ materially. Hosting today's conference are Mr. Arturo Spinola, Chief Financial Officer of Grupo Carso; and I, Rogelio Barradas, from Investor Relations.
We will first provide a brief overview of the first quarter financial results, where all figures are expressed in Mexican peso, and then proceed to the Q&A session. Consolidated sales of Grupo Carso totaled MXN 44.1 billion, remaining broadly in line with the first Q '25. Grupo Sanborns was the division with the largest positive impact in revenues, increasing MXN 574 million. Consolidated operating income reached MXN 2.95 billion
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