Mexico · Delayed Price · Currency is MXN Grupo Carso Earnings Call Transcripts
Fiscal Year 2026
-
First quarter sales were stable at MXN 44.1 billion, with EBITDA and net income declining year-over-year due to FX and inflation. Strategic acquisitions and a major U.S. asset sale are set to reshape the portfolio.
Fiscal Year 2025
-
Sales and profitability declined year-over-year due to peso appreciation and project completions, but backlog and strategic investments in hydrocarbons and infrastructure support a positive outlook for 2026, with single-digit growth and margin improvements expected.
-
Sales and profitability declined year-over-year due to exchange rate impacts, higher costs, and project completions, but a record backlog and new contracts in infrastructure and energy signal improved performance ahead. Retail and industrial divisions showed resilience, while Pemex payment delays remain a risk.
-
Consolidated sales declined 1.6% while operating income and EBITDA rose, driven by a one-time gain from the Giant Cement sale. Net income fell sharply due to FX losses, and margin pressures persisted in retail and industrial segments. CICSA and Sanborns saw profitability challenges.
-
First quarter sales remained stable at MXN 46 billion, with strong growth in industrial and energy segments offset by declines in retail and infrastructure. Operating income and net profit fell sharply due to higher costs and startup expenses, while Zamajal hydrocarbons operations contributed new revenue but posted losses.
Fiscal Year 2024
-
Fourth quarter sales rose 6.6% to MXN 59 billion, with net income up 27.1% and EBITDA margin at 15.7%. Growth was driven by strong industrial, retail, and energy segments, while construction lagged. 2025 guidance targets continued margin strength and focused CapEx.
-
Consolidated sales grew 8.3% to MXN 49 billion, with strong industrial and construction performance offsetting lower retail profitability. Zamajal oil operations began contributing, though with startup losses, and nearshoring trends are boosting industrial demand.
-
Consolidated sales were stable at MXN 48 billion, while net income surged 34.5% to MXN 4.6 billion, driven by financial income despite lower operating results. Segment performance was mixed, with notable gains in Elementia Fortaleza and Condumex, and new investments in hydrocarbons and infrastructure.