Becle, S.A.B. de C.V. (CUERVO) Earnings Call Transcripts

Becle, S.A.B. de C.V.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Becle, S.A.B. de C.V. reported a significant 23.1% decline in consolidated net sales to MXN 7.4 billion, primarily due to a distributor transition in the U.S. and adverse foreign currency effects. Earnings per share dropped to MXN 0.11, down from MXN 0.32 in the prior year. Management maintained its guidance for a low single-digit decline in consolidated net sales on a constant currency basis for the full year, indicating a cautious outlook amid ongoing challenges in the U.S. market.

Reported metrics

Guidance from management

Management confirmed guidance for a low single-digit decline in consolidated net sales on a constant currency basis for 2026, indicating a cautious outlook amid ongoing transitions.

What management said

Yes. How are you, Froylan? The comment I made on -- in regards to stable input cost basically relates to the fact that we see market prices on agave being stable, and we have no expectations of significant changes to the current situation or the situation we've had in the last couple of quarters. That's basically the comment. There's nothing more to that.

The right way to think about it is we have continued to benefit from lower agave spot prices in the proportion we do leverage that part of the market, and we expect no changes going forward.

What analysts pressed on

Analysts expressed concerns about the significant gap between shipments and depletions in the U.S. market, questioning the potential long-term impact of the distributor transition on market share. There were also inquiries regarding the sustainability of margins given the competitive pricing environment and operational challenges.

Main topics on the call

• Distributor Transition Impact — The U.S. distributor transition led to a 13.4% volume decline and a 23.8% drop in shipments, reflecting both intentional inventory reductions and ongoing adjustments. Management stated, "this impact does not reflect the ...
• Strong Performance in Mexico — Despite industry pressures, Becle's Mexican operations showed resilience with a 6.1% volume growth, outperforming the industry. Management noted, "our brands not only held their ground but consistently gained market shar...
• EBITDA and Margin Compression — EBITDA declined by 52.5% to MXN 1.03 billion, with EBITDA margin contracting to 13.9%. Management attributed this to unfavorable foreign exchange impacts and operational deleverage, stating, "the decrease in gross margin...
• Long-term Growth Confidence — Management expressed confidence in long-term growth, particularly in the U.S. spirits market, stating, "we remain confident in the long-term strength of the U.S. spirits market and in our ability to deliver sustainable g...

Read the full Becle, S.A.B. de C.V. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 27 Becle, S.A.B. de C.V. earnings call transcripts on record, spanning February 28, 2020 to July 24, 2026. Based on this history, Becle, S.A.B. de C.V. reports quarterly. The most recent call on file is dated July 24, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

CUERVO

Exchange

BMV

Country

MX

Sector

Consumer Staples

Industry

Beverages

Calls on record

27

First call

February 28, 2020

Most recent

July 24, 2026

Reporting cadence

quarterly