Grupo Bimbo, S.A.B. de C.V. (BMBOY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everyone. Thank you for joining us. Connected on the line today are our CFO, Diego Gagiola, and Executive Vice President, Mark Bendix, along with several members of our finance team. During the third quarter, we delivered growth in both sales and EBITDA, and so improved sequential volume trends, driven primarily by disciplined pricing strategies, strong geographical diversification, and material operational efficiencies. At the same time, we continue to demonstrate the resilience and breadth of our portfolio by gaining or maintaining market share in five out of our six categories. In North America, we posted very solid results with three quarters in a row with sequential margin improvements. In fact, we went back to double-digit EBITDA margin due to the excellent work of our associates throughout the transformation program. Overall, this performance underscores our ability to maintain profitability and agility, adapt and compete effectively, and stay connected with consumers supported by a diversified global footprint that spans through 91 countries worldwide, including 39 where we operate directly, enabling us to navigate the challenging and fluctuating market dynamics. Despite a challenging environment in some markets, our diversified geographic footprint continues to pay off. In Mexico, while consumption was soft, the business has demonstrated notable resilience and reached the highest level of sales, while continuing to report strong EBITDA margins at above 20%, even with a very tough basis of comparison. Meanwhile, we are observing encouraging signs of recovery in North America with improving price mix dynamics and trends in core categories like buns and mainstream bread. EAA also reported extraordinary results hitting records in several metrics....