Betterware Q2 Revenue +16.8% to MXN 4.16B; Tupperware Boosts Results
Betterware de México reported strong second-quarter 2026 financial results, with net revenue increasing 16.8% year-over-year to MXN 4,161.4 million and net income rising 20.6% to MXN 394.6 million. The results were significantly boosted by the successful incorporation of Tupperware's Latin American operations, which contributed 10.8% of consolidated revenue and nearly 16% of EBITDA despite only one month of inclusion. Both Betterware and Jafra brands also showed revenue growth, with Jafra's turnaround gaining traction. The company maintained a strong balance sheet with a net debt-to-EBITDA of 2.6x and updated its 2026 net revenue guidance to 18.0%-22.0%, reflecting the positive impact of the Tupperware acquisition. A quarterly dividend of MXN 250 million (US$0.36 per share) was approved.
Key Highlights
- Net Revenue increased 16.8% YoY to MXN 4,161.4M in Q2 2026.
- EBITDA grew 15.0% YoY to MXN 780.4M in Q2 2026, with an 18.8% margin.
- Net Income rose 20.6% YoY to MXN 394.6M in Q2 2026.
- EPS increased 14.2% YoY to MXN 10.0 in Q2 2026.
- Tupperware contributed 10.8% of consolidated revenue and nearly 16% of EBITDA in one month.
- Betterware revenue increased 3.6% in Q2, Jafra revenue increased 4.5% QoQ.
- Net Debt-to-EBITDA stood at 2.6x (2.6x pro forma including Tupperware full-year EBITDA).
- Quarterly dividend of MXN 250M (US$0.36 per share) approved for Q3 2026.
- Updated 2026 Net Revenue guidance to 18.0%-22.0% (from 4.0%-8.0%).
Price Impact
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