)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
San Miguel (SMC) investor relations material
San Miguel Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary19 Nov, 2025
Executive summary
Achieved strong profitability and operational resilience for the nine months ending September 2025, with net income surging 112% year-over-year to PHP 78.6 billion, driven by a one-time gain from fair valuation and improved operations in key segments.
Margin expansion and cost discipline offset lower revenues, with food, hard liquor, power, and infrastructure segments leading improvements.
Sustainability initiatives recognized, with ESG impact assessments integrated into capital expenditure reviews and climate risk evaluations completed.
Continued focus on nation-building, food and energy security, and sustainable development through infrastructure and energy expansion.
Sales declined 7% to PHP 1.1 trillion, mainly due to lower average selling prices and volumes in Fuel and Oil and Energy, partially offset by strong Food and Beverage and Infrastructure performance.
Financial highlights
Consolidated revenues declined 7% to PHP 1.1 trillion, mainly due to lower crude and commodity prices and deconsolidation of certain power assets.
Operating income increased 13% to PHP 137.4 billion, with margins rising from 10.3% to 12.6%.
Net income rose to PHP 78.6 billion, supported by fair valuation gains and forex gains; core net income (excluding one-offs and forex) up 54% to PHP 60.3 billion.
Gross profit increased 7% to PHP 208.4 billion, while cost of sales dropped 10% due to lower input costs and deconsolidation of certain energy assets.
Consolidated EBITDA up 16% to PHP 194.3 billion.
Outlook and guidance
Growth and expansion strategy continues, supported by solid operating performance amid political and economic challenges.
Full-year EBITDA for power expected to reach PHP 70 billion in 2026, with full contribution from battery projects.
No significant price increases planned for Q4 in food, beer, or spirits; focus remains on volume growth and market share.
Renewable energy portfolio expanding, with major hydropower and solar projects awarded and under development.
No material liquidity or cash flow issues anticipated in the next 12 months; the Group remains in compliance with all debt covenants.
Explain the P21.9B gain from energy asset revaluation
Purpose of recent preferred share restructuring
FX risk sensitivity impact on PBT and equity
Meralco claim resolution timeline update
Renewable energy CapEx and funding plan
Power segment core profitability drivers
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next San Miguel earnings date
Q4 202517 Apr, 2026
Next San Miguel earnings date
Q4 202517 Apr, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage