América Móvil (AMXL) Q1 2026 earnings summary

Executive summary

• Revenue rose 2.1% year-over-year in MXN terms to MXN 237 billion, with service revenue up 0.6% and equipment revenue up 7.4%.

• EBITDA grew 3.8% in MXN, outpacing revenue growth, with margin reaching 39.9%, among the highest recorded.

• Net income increased 25.1% year-over-year to MXN 23.4 billion, or MXN 0.39 per share.

• Strong postpaid subscriber growth (8.8%) and broadband accesses (6%) compared to the prior year.

• Major acquisition announced for 73% of Desktop S.A. in Brazil, pending regulatory approval.

Financial highlights

• Operating profit reached MXN 50.5 billion, up 12% year-over-year.

• Free cash flow for the quarter was MXN 3.3 billion after covering MXN 22 billion in capital expenditures.

• Share buybacks totaled MXN 1.4 billion, and net debt was reduced by MXN 1 billion.

• At constant exchange rates, revenue rose 6.1%, service revenue 4.6%, equipment revenue 11.3%, and EBITDA 8%.

• CapEx for the quarter was MXN 21.6 billion.

Outlook and guidance

• CapEx for 2026 expected to be around $7 billion, subject to exchange rate fluctuations.

• Continued focus on expanding postpaid and broadband subscriber base and balancing deleveraging, buybacks, and M&A opportunities, targeting net debt/EBITDA of 1.3x.

• Operating leverage is expected to continue driving EBITDA growth faster than service revenue.

• Investor Day scheduled for May 27th in New York City.