Sigma Foods reports 2Q26 EBITDA of US $296 million, driven by higher Volume, Revenues, and Comparable EBITDA

SAN PEDRO GARZA GARCÍA, N.L. Mexico, July 21, 2026 /PRNewswire/ — Sigma Foods, S.A.B. de C.V. (BMV: SIGMAFA) (“SIGMA FOODS”) announced today its unaudited results for the second quarter of 2026 (“2Q26”) and the first half of the year (“1H26”). All figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”).

2Q26 HIGHLIGHTS

Sigma Foods

 

  • Record 2Q Volume (+1%), Revenues (+6%), and Comparable EBITDA (+17%)
  • YTD Comparable EBITDA of US $548 million on track to reach US $1.1 billion Guidance
  • Paid first dividend installment of US $76 million, as approved by Shareholders

 

Mexico

 

  • All-time high second-quarter Volume (+2%), Revenues (+15%), and EBITDA (+25%)
  • Retail channels, Dairy and value-oriented packaged meat brands driving Volume gains
  • In local currency, 2Q26 EBITDA was up 11%, supported by improved price-cost alignment

 

Europe

 

  • Comparable 2Q26 EBITDA increased 8% YoY in euros, reaching the highest 2Q Comparable EBITDA since 2021
  • Reached key milestones in Capacity Recovery Plan: advanced start-up process of new bacon lines at La Bureba and progress on the construction of the greenfield plant in Valencia

 

United States   

 

  • 2Q26 EBITDA of US $52 million, up 12% versus 1Q26 driven primarily by summer seasonality. Accumulated EBITDA consistent with consolidated Guidance
  • Acquired Roger Wood Foods, the #1 smoked sausage company in the U.S. Southeast

 

Latam

 

  • YoY growth in Volume (+2%), Revenues (+7%), and EBITDA (+29%)
  • Fourth consecutive quarter of sequential EBITDA improvement

 

Message from the CEO

“Sigma Foods delivered another strong quarter, maintaining positive momentum in operating results and strategic priorities. Volume, Revenues and Comparable EBITDA reached their highest levels for any second quarter.

By region, Mexico once again delivered outstanding results driven by growth in Volume, Revenues, and EBITDA in local currency, with even stronger performance in U.S. dollar terms. Our European operations posted their strongest second-quarter Comparable EBITDA in five years, capitalizing on multi-year turnaround efforts and favorable market dynamics in the Fresh Meats business. In the U.S., EBITDA increased sequentially in 2Q26, exceeding US $50 million for the first time in the past year. Moreover, Latam achieved its fourth consecutive quarter of sequential EBITDA growth supported by ongoing operational initiatives.

The first half of the year was also marked by meaningful progress on our strategic priorities. In 2Q26, we acquired Roger Wood Foods (“RWF”), a U.S.-based smoked sausage producer with a strong regional brand. This bolt-on acquisition complements our ongoing organic initiatives to strengthen our position in Dinner Sausages, a category we have identified as an attractive growth opportunity in the U.S. market.

Another important strategic milestone was the continued execution of Sigma Europe’s Capacity Recovery Plan. The start-up process of new bacon production lines at the La Bureba facility advanced during the quarter to partially restore capacity lost following the Torrente plant flooding in 4Q24. At the same time, construction continued at the Valencia greenfield plant, which is expected to replace the remaining lost capacity in 2027, reinforcing the long-term profitability of our European business.

Consistent with a disciplined capital allocation strategy, we invested US $99 million in capital expenditures during the second quarter. We also paid the first dividend installment of US $76 million, as approved at our Annual Meeting. In addition, we executed opportunistic share buybacks during 2Q26 based on our view of the underlying value of the business.

We continue to actively engage with consumer-sector investors and analysts to further strengthen awareness of Sigma Foods as a leading global food company. These efforts resulted in four new equity analyst initiations during the first half of the year, bringing total analyst coverage to 13. Broader sell-side coverage enhances our ability to reach a wider investor base and supports a greater understanding of our long-term value proposition.

Looking ahead, we entered the second half of the year with increased confidence in achieving our 2026 EBITDA guidance of US $1.1 billion, supported by our diversified business model and consistent execution.

Finally, I would like to thank our teams for their continued dedication and commitment. Together, we remain focused on achieving our targets and delivering on our strategic priorities.”

Advancing with purpose,
Rodrigo Fernández

SELECTED FINANCIAL INFORMATION (US $ MILLION)

2Q26

1Q26

2Q25

(%)QoQ

(%)YoY

2026

2025

Ch. %

Volume (k Tons)

463

451

460

2

1

914

906

1

  Mexico

251

249

247

1

2

500

492

2

  Europe

91

92

90

(1)

1

183

179

2

  United States

92

83

95

12

(3)

175

180

(3)

  Latam

27

28

27

(1)

2

55

54

2

Revenue

Sigma Foods

2,435

2,372

2,297

3

6

4,806

4,388

10

Sigma Alimentos

2,428

2,366

2,270

3

7

4,795

4,334

11

  Mexico

1,266

1,252

1,100

1

15

2,517

2,108

19

  Europe

571

559

584

2

(2)

1,130

1,092

3

  United States

428

393

431

9

(1)

821

827

(1)

  Latam

164

162

154

1

7

327

307

6

Reported EBITDA1

Sigma Foods

296

260

305

14

(3)

556

576

(3)

Sigma Alimentos

289

262

312

10

(7)

551

532

4

  Mexico

199

176

160

13

25

375

306

23

  Europe

24

25

85

(6)

(72)

49

93

(47)

  United States

52

46

56

12

(7)

98

109

(10)

  Latam

15

14

12

6

29

29

25

19

Comparable EBITDA2

Sigma Foods

288

260

247

11

17

548

467

17

Sigma Alimentos

289

262

249

10

16

551

469

18

  Mexico

199

176

160

13

25

375

306

23

  Europe

24

25

22

(6)

9

49

29

66

  United States

52

46

56

12

(7)

98

109

(10)

  Latam

15

14

12

6

29

29

25

19

Consolidated Net Income   

95

69

17

38

459

164

209

(22)

Capex & Acquisitions3

99

57

61

74

62

156

108

44

Net Debt4

2,910

2,832

2,687

3

8

2,910

2,687

8

Net Debt/EBITDA5

2.7

2.6

2.6

2.7

2.6

Interest Coverage6

3.8

3.9

3.6

3.8

3.6

1 EBITDA = Operating Income (loss) + depreciation and amortization + impairment of assets.

2 Comparable EBITDA = Operating Income (loss) + depreciation and amortization + impairment of assets + extraordinary items.

3 Excludes divestments and Discontinued Operations (Alpek).

4 Net Debt adjusted for Discontinued Operations (excluding Alpek) at the beginning of 3Q24.

5 Times. LTM = Last 12 months. Ratio calculated with Discontinued Operations for all periods.

6 Times. LTM = Last 12 months. Interest Coverage = EBITDA/Net Financial Expenses with Discontinued Operations for all periods.

Notes on changes to Consolidated Financial Statements

On October 24, 2024, Shareholders approved the spin‑off of the Company’s share ownership in Alpek into a newly listed entity, “Controladora Alpek.” As a result, Alpek met the definition of a Discontinued Operation for purposes of the Company’s Consolidated Financial Statements in accordance with IFRS until Controladora Alpek shares were distributed to shareholders on April 4, 2025. The changes in the Company’s Consolidated Financial Statements are as follows:

  • The Consolidated Statement of Financial Position – Beginning in 3Q24 and through the distribution date in April 2025, Alpek’s balances are presented as: “Current Assets from Discontinued Operations” and “Current Liabilities from Discontinued Operations.”
  • The Consolidated Statement of Income presents Alpek’s net revenues and expenses as a single line item “Profit (Loss) from Discontinued Operations” as follows:
    • 2Q26: no figures presented related to Alpek
    • 1Q26: no figures presented related to Alpek
    • 2Q25: accumulated figures for the three days ended April 3, 2025
    • 2026: no figures presented related to Alpek
    • 2025: accumulated figures for the three months and three days ended April 3, 2025
  • No figures presented related to Alpek on the Change in Net Debt in the periods presented in this report.
  • Alpek’s Net Debt is disclosed as “Net Debt from Discontinued Operations” at the close of 3Q24. Prior periods are not restated, and subsequent periods do not present Alpek’s Net Debt following distribution of Controladora Alpek shares.

Table 7 | Income Statement Discontinued Operations – ALPEK (US $ Million)

2Q26

1Q26

2Q25

2026

2025

Total Revenues

0

0

57

0

1,771

Gross Profit

0

0

3

0

198

Operating Expenses and Others   

0

0

(2)

0

(69)

EBITDA

0

0

1

0

136

Operating Income (Loss)

0

0

129

0

257

Financial Cost, Net

0

0

0

0

(37)

Income Tax

0

0

(1)

0

(4)

Net Profit (Loss)

0

0

(1)

0

87

2Q26 EARNINGS CALL INFORMATION

Date:            

Wednesday, July 22, 2026

Time:            

11:30 a.m. EDT (NY) / 9:30 a.m. CST (CDMX)

Registration:         

Webinar Registration – Zoom

Replay:                  

https://www.sigmafoods.com/en/events/ 

About Sigma Foods

Sigma Foods, S.A.B. de C.V. (“Sigma Foods”) is a leading multinational consumer packaged goods company that produces, markets, and distributes high-quality foods through a portfolio of over 100 brands, 16 of which generate Revenues above          US $100 million annually, each. The company’s main categories include cooked meats, dry meats, cheese, and yogurt. Sigma Foods operates in 17 countries, divided into four regions: Mexico, Europe, the United States, and Latam, where it serves approximately 640,000 points of sale in 3 channels: Traditional, Modern, and Foodservice. The company has over 48,000 teammates and installed capacity in each region, including: 66 production plants, 191 distribution centers, and more than 8,000 vehicles. Sigma Foods shares are traded on the Mexican Stock Exchange and Latibex, the Latin American stock market of the Madrid Stock Exchange.

Disclaimer

This document contains forward-looking information based on numerous variables, expectations and assumptions that are inherently uncertain. They involve judgments with respect to, among other things, future economic, competitive and financial market conditions and future business decisions, all of which are difficult or impossible to predict accurately. Accordingly, future results are likely to vary from those set forth in this document. You should not place undue reliance on forward-looking information. All forward-looking information is made as of the date of this document, based on information available to us as of such date, and we assume no obligation to update any forward-looking information. Copyright© 2026 Sigma Foods, S.A.B. de C.V. All rights reserved.

 

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SOURCE Sigma Foods, S.A.B. de C.V.