EarningsQ3 2026 Earnings Report
MX:GCARSOA1 Q3 2026 EPS Results
Actual EPS$1.14
Consensus EPS―
Beat/Miss―
One Year Ago EPS$0.29
MX:GCARSOA1 Q3 2026 Revenue Results
Actual Revenue$47.63B
Expected Revenue$47.30B
Beat/MissBeat by +$326.92M
YoY Revenue Growth+4.60%
Earnings Announcement Details
QuarterQ3 2026
Date10/26/2026
TimeTBA
Conference CallMonday, October 26, 2026
MX:GCARSOA1 Upcoming Earnings
Grupo Carso SAB de CV 1's next earnings date is estimated for February 1, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:GCARSOA1 Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Q3 2026
Earnings Call Date:Oct 26, 2026|
% Change Since:
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Earnings Call Sentiment|Positive
The call was broadly positive, with Grupo Carso reporting 4.6% sales growth, a 51.3% increase in operating income, 21.5% EBITDA growth and a substantial improvement in net income. Condumex, infrastructure, Zamajal and Sanborns delivered growth or improved profitability, while the company also highlighted a strong backlog, ongoing Ixachi well deliveries and the completed El Salvador divestment. These positives outweighed lower Elementia and Fortaleza sales and significant declines at Carso Energy, where exchange-rate effects and lower water inflows in Panama remained challenges.Company Guidance
Infrastructure and Construction Sales Growth
Carso Infraestructura y Construccion recorded sales of MXN 7.4 billion, up 5.6% year-over-year. Infrastructure division sales increased 81%, mainly due to the start of construction of the Saltillo-Santa Catarina Train, while Pipelines division sales increased 8%.
Improved Infrastructure and Construction Profitability
Carso Infraestructura y Construccion operating income and EBITDA reached MXN 259 million and MXN 490 million, respectively, posting significant improvements compared with the same period of 2025.
Jack-Up Rig Lease Commenced
The lease of the jack-up rigs commenced during the quarter for a term exceeding one year.
Strong Construction Backlog
Carso Infraestructura y Construccion backlog totaled MXN 36.9 billion as of September 2026.
Elementia and Fortaleza Profitability Increased Despite Lower Sales
Elementia and Fortaleza operating income increased to MXN 1.8 billion from MXN 1.1 billion in the third quarter of 2025, while EBITDA reached MXN 2.1 billion.
Zamajal Surge and Strong Margins
Zamajal sales totaled MXN 3 billion, increasing significantly from MXN 546 million in the third quarter of the prior year. The periods are not directly comparable due to the execution of the Ixachi well drilling services agreement with Pemex. Operating income reached MXN 736 million with a 24.7% margin, while EBITDA totaled MXN 1 billion with a 34.6% margin.
Ixachi Well Deliveries Progressing
Eight wells have been delivered to Pemex at Ixachi, and between two and four additional wells are expected to be delivered by year-end 2026.
Fortaleza El Salvador Divestment Completed
By the end of August, Fortaleza Materiales completed the sale of its subsidiary in El Salvador. The transaction included a 65% interest in Cementos Fortaleza El Salvador and was completed at an enterprise value of MXN 75 million, subject to customary adjustments.
Strong Consolidated Sales Growth
Grupo Carso sales totaled MXN 47.6 billion in the third quarter of 2026, increasing 4.6% compared with the same period of the prior year despite the impact of the peso appreciation. Most divisions posted growth, led by Zamajal and Condumex.
Significant Operating Income and EBITDA Growth
Operating income reached MXN 4.8 billion, compared with MXN 3.2 billion in the third quarter of 2025, an increase of 51.3%. The performance was mainly driven by Elementia, Condumex and Zamajal, with growth recorded across all business segments. EBITDA totaled MXN 6.8 billion, 21.5% above the third quarter of 2025.
Net Income Improvement
Net income attributable to the controlling interest reached MXN 2.6 billion, compared with MXN 651 million in the third quarter of 2025, reflecting the improvement in operating performance.
Sanborns Profitability Improvement
Grupo Sanborns revenue increased 1.4% to MXN 16.1 billion, while operating income rose 19.1% to MXN 528 million and EBITDA increased 12.3% to MXN 1.1 billion. The company described these as solid results despite subdued consumer spending as reflected in ANTAD indicators.
Condumex Growth Driven by Cable Demand and Exports
Despite the stronger peso, Condumex sales increased 12.3% to MXN 14.9 billion, mainly driven by a 27.9% increase in Cable division sales, including cables for data centers, together with higher exports. Operating income rose 14.5% to MXN 1.1 billion and EBITDA increased 5.7% to MXN 1.3 billion.
MX:GCARSOA1 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed