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Tequila maker Becle's profit plummets, drained by lower sales in US and Canada
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Tequila maker Becle's profit plummets, drained by lower sales in US and Canada
Feb 26, 2025 3:27 PM

MEXICO CITY, Feb 26 (Reuters) - Mexico's Becle

, the world's largest tequila producer, on Wednesday

reported a fourth-quarter profit down 21% from a year earlier,

hit by a significant decline in its sales and volumes in the

United States and Canada.

Cuervo, which makes the bulk of its sales from tequila but

also produces a range of spirits such as Creyente mezcal,

Stranahan's whiskey, Kraken rum and Boodles gin, reported a net

profit of 1.55 billion pesos ($74.3 million), beating LSEG

analysts' estimate of 1.28 billion pesos.

Revenue, meanwhile, landed at 12.9 billion pesos, below

analysts' forecasts of 13.62 billion pesos.

The company's sales in foreign-exchange neutral terms in

the U.S. and Canada were down around 25% in the quarter, while

its volumes in the region decreased close to 20%, Becle said in

a statement.

On potential tariffs to be imposed on Mexico by the U.S.,

the tequila maker said that any renegotiation of trade

agreements or changes in foreign policy in the U.S. could affect

imports and exports with Mexico, and adversely affect the

company.

($1 = 20.8829 pesos at end-December)

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