Sobering quarter for Jose Cuervo distiller as profit slumps (updated)

Becle SAB de CV

28/10/2026 22:21

Details Jose Cuervo volumes
MEXICO CITY, Oct 28 (Reuters) - Mexico's Becle CUERVO.MX, the world's biggest tequila maker and owner of Jose Cuervo, reported a steep drop in third-quarter profit on Wednesday, missing market expectations as weaker demand, a stronger peso and a tougher selling environment weighed on results.
Net profit plunged 85% from a year earlier to 633 million pesos ($35 million), well below the 1.07 billion pesos forecast by analysts polled by LSEG.
The weak quarter adds to concerns that the tequila boom may be losing some momentum, especially in the United States, Becle's most important market
Revenues fell 15% to 9.25 billion pesos, also missing the LSEG estimate of 9.96 billion pesos
Volumes fell 9% to 5.7 million nine-liter cases
In the United States and Canada, volumes slipped 3%, though Becle said trends improved from earlier in the year as changes to its distributor network moved forward
In Mexico, volumes dropped 12%, largely because of the sale of the b:oost energy drink brand
In the rest of the world, volumes fell 20%, mainly because some shipments were delayed into the fourth quarter
Volumes of Jose Cuervo - which made up for more than a third of the firm's total volumes in the quarter - fell 11% from a year earlier
The company said results were also hurt by the stronger Mexican peso, which reduced the value of overseas sales when converted back into the local currency 
($1 = 18.0808 pesos at end-September)

 (Reporting by Natalia Siniawski; Editing by Kylie Madry)
 ((natalia.siniawski@thomsonreuters.com;))