MEXICO CITY, April 30 (Reuters) – Shares in Becle, the world’s largest tequila maker, tumbled 5% in early trading on Thursday after it reported first-quarter earnings that landed below analyst forecasts, even after Becle warned of a harsh year due to a U.S. distribution restructuring.
Becle’s first quarter was “the worst quarter in recent memory,” analysts at Scotiabank said, adding the decline was “far worse” than management had previously indicated – suggesting either a sharp recovery in the second half of this year or possible guidance cuts ahead.
Becle’s stock has lost more than a third of its value since the start of this year and last month it was struck off Mexico’s main stock index S&P/BMV IPC in favor of airline Volaris.
The company, which sells Jose Cuervo family tequilas and other liquors mainly across North America, for the first three months of 2026 posted a 67% slump in its net profit, landing at less than half the figure anticipated by analysts polled by LSEG.
Spirit vendors worldwide are facing a shrinking market as people on average drink less alcohol. Becle, which makes much of its income from the United States, also saw a stronger Mexican peso dry up the value of earnings it made abroad.
It has warned of a difficult 2026 as the firm restructures its U.S. distribution system after ending its partnership with national distributor RNDC, which is undergoing a major selloff.
(Reporting by Sarah Morland; Editing by Aida Pelaez-Fernandez)
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