Betterware de Mexico, S.A.B. de C.V. Q3 2026 Earnings Recap

BeFra’s shares fell 1.9%, a roughly flat reaction. Revenue and net income grew, but the quarter showed uneven performance: Jafra revenue declined, consolidated EBITDA margin narrowed year over year, and organic growth guidance was narrowed to 4%–5%.

Key Takeaways

• Consolidated revenue rose 43.1% year over year to MXN 4,832 million, while organic revenue grew 2.3%.
• Jafra revenue fell 2.8%; management cited weaker commercial execution and lower associate activity. Betterware Mexico revenue increased 8.5%.
• Tupperware core direct-selling revenue increased 14%; its Mexico business grew 23%, while Brazil declined 3.3%.
• EBITDA rose 39.6% to MXN 1,008 million, but consolidated margin slipped to 20.9% from 21.4%. Net income increased 24.2% to MXN 390 million.
• BeFra narrowed organic revenue growth guidance to 4%–5%, raised post-acquisition revenue growth guidance to 24%–26%, and maintained its 19% full-year EBITDA margin expectation.