Becle Reports Strong Q3 2025 Financial Performance

Becle Sab De Cv ( (BCCLF) ) has released its Q3 earnings. Here is a breakdown of the information Becle Sab De Cv presented to its investors.

Becle, S.A.B. de C.V., known as Cuervo, is a leading global spirits company and the largest producer of tequila, renowned for its extensive portfolio of over 30 spirits brands, including iconic names like Jose Cuervo and innovative brands such as 1800 and Kraken, distributed in more than 85 countries.

In its third-quarter 2025 financial report, Becle reported a modest increase in total volume by 3.7% and a slight decline in net sales by 0.2% year-over-year, attributed to currency translation effects. The company achieved significant growth in gross and EBITDA margins, with gross margin expanding by 300 basis points and EBITDA margin increasing by 1,240 basis points.

Key financial highlights include a substantial 354.6% increase in net income, reaching P$4,123 million, driven by improved operating income and favorable net financial results. The company also reported a strong cash generation of P$3.3 billion from operating activities and a reduction in lease-adjusted net leverage to 1.0x. Strategic moves included the divestment of equity interests in Lalo Spirits Holdings, Inc., and the signing of an agreement to sell its non-core b:oost brand, aligning with its focus on premium brands.

Regionally, Mexico and the Rest of the World showed robust volume growth, while the U.S. and Canada faced challenges, leading to a decline in net sales in these regions. The company’s focus on cost control and operational efficiency was evident in the reduction of SG&A expenses by 11.9%.

Looking ahead, Becle’s management remains optimistic about navigating the volatile global spirits market, focusing on deepening consumer connections and sustainable growth, supported by strategic divestments and a disciplined approach to capital allocation.