Sigma Foods (SIGMAF) Q2 2026 earnings summary

Executive summary

• Achieved record second-quarter volume, revenues, and comparable EBITDA, with all regions contributing to growth and year-to-date comparable EBITDA reaching $548 million, on track for $1.1 billion annual guidance.

• Advanced strategic priorities, including manufacturing investments, the acquisition of Roger Wood Foods, and progress on European capacity recovery.

• Paid first dividend installment of $76 million and executed share buybacks, reflecting disciplined capital allocation.

Financial highlights

• Revenues for 2Q26 totaled $2,435 million, up 6% year-over-year, driven by moderate volume growth and favorable FX.

• Comparable EBITDA for 2Q26 was $288 million, a 17% year-over-year increase, with margin improving to 11.8%.

• Net financial cost rose to $123 million, mainly due to lower FX gains.

• Net income for 2Q26 was $95 million; accumulated net income was $164 million, down from $209 million last year, which included extraordinary items.

• EBITDA per ton increased 16% YoY, led by Mexico, Europe, and Latam.

Outlook and guidance

• Confident in achieving full-year EBITDA guidance of $1.1 billion, supported by a diversified business model and consistent execution.

• Expect U.S. volume trends to improve in the second half, supported by new listings and a lower comparable base.

• Anticipate continued positive trends in Mexico and Europe, with seasonality favoring stronger results in the second half for Europe.