Sigma Foods (SIGMAF) Q3 2025 earnings summary

Executive summary

• Completed first full quarter as a streamlined, global, branded food business after the Alpek spin-off and corporate simplification, with a rebranding initiative underway and a name change proposal to be presented to shareholders.

• Achieved record quarterly revenues in Mexico, driven by selective price actions and resilient retail volume.

• Board approved a $35 million dividend, bringing year-to-date dividends to $119 million.

• Maintained a strong focus on shareholder returns and advanced sustainability initiatives, surpassing 80% responsible sourcing and improving S&P CSA rating.

• Innovation recognized with Tastech® winning LATAM's Best Corporate Venturing Program for the second year.

Financial highlights

• Third-quarter revenues reached a record $2.42 billion, up 8% year-over-year and 5% sequentially, mainly from price actions and stable volume.

• 3Q25 EBITDA was $245 million, down 11% year-over-year and 20% sequentially; comparable EBITDA was $250 million, down 10% year-over-year but up 2% sequentially.

• Nine-month comparable EBITDA totaled $722 million, tracking in line with full-year guidance.

• Net income for 3Q25 was $75 million, down from $242 million in 3Q24, mainly due to normalized taxes and absence of prior year non-recurring gains.

• Net debt at quarter-end was $2.71 billion, up $22 million from 2Q25, mainly due to working capital and capex investments.

Outlook and guidance

• Guidance for full-year EBITDA reiterated, with expectations for significant year-over-year growth in the fourth quarter and sequential improvement supported by revenue management and cost mitigation.

• Anticipates continued improvement in turkey supply and cost, with raw material prices expected to ease in 2026.

• Expects further business interruption insurance reimbursements in Q4, supporting results.

• New product launches and innovation initiatives planned, including the GRILL HOUSE launch in the U.S. in 4Q25.