Background on Becle and José Cuervo
Becle, the world’s largest tequila producer and owner of the renowned José Cuervo brand, experienced a significant surge in its stock value on the Mexican Stock Exchange (BMV). The company’s net profit soared by 354.6% in the third quarter, rising from 907 million pesos in 2024 to 4,123 million pesos this year.
Stock Performance
On Thursday, Becle’s shares jumped 13.08%, closing at 23.86 pesos per unit, marking its highest level since July 29 when it reached 24.01 pesos. Although this represents a decline of 53.78% from its historical maximum of 51.62 pesos on January 13, 2022, the recent performance is noteworthy.
As of 2025, Becle’s stock has only shown a modest increase of 1.83%. However, the company’s market capitalization has grown to 85,685 million pesos, an increase of nearly 10,000 million pesos.
Positive Financial Data
Becle, which also owns brands like 1800, Gran Centenario, and Maestro Tequilero, reported positive results in its third-quarter financial report submitted to the BMV.
The company’s net profit skyrocketed 354.6%, increasing from 907 million pesos in 2024 to 4,123 million pesos this year. The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also reached a record high of 3,459 million pesos, marking a 63.3% growth compared to the same period last year.
These achievements were made despite a slight dip in consolidated sales, which fell 0.2% to 10,922 million pesos, mainly due to currency conversion issues.
“Throughout the quarter, we achieved solid results and further strengthened our financial position despite ongoing global spirits industry volatility. The expansion of margins, robust cash generation, and disciplined portfolio management reflect our ability to maintain operational efficiency amidst a challenging environment,” explained the company.
Expert Analysis
Financial experts and analysts from Barclays and Banco Bx+ have praised Becle’s financial performance.
Barclays analysts highlighted that “the financial results showed significant improvement due to lower interest expenses, a favorable exchange rate impact, and most importantly, an additional gain from financial instruments related to the sale of Lalo Spirits Holdings participation.”
Banco Bx+ analysts noted that Cuervo exceeded consensus expectations in all areas, demonstrating volume recovery and maintaining margin expansion.
“Becle presented a positive report, showing its first consolidated volume increase, though still weak in the US. Supported by low agave costs, this allowed margin operational and net expansion. Additionally, there was the effect of divestments offsetting currency impacts,” explained analysts from Valmex.
Analysts also pointed out the positive factors of completely selling off its stake in Lalo Spirits and agreeing to sell its b:oost brand.
North America: Becle’s Primary Market
A significant portion of Becle’s revenue, through its parent company, comes from the United States and Canada, which together represent the largest market for the company.
From July to September, Becle sold 54.3% of its alcoholic beverages in North America; Mexico accounted for 26.5%, and the rest of the world made up 19.2%.
José Cuervo was the star product, accounting for 35.9% of total sales. Other tequila brands represented 24.2%, and other spirits brands made up 17%.
The Beckmann Family
Juan Francisco Beckmann Vidal took charge of the company 50 years ago at the age of 30. He married Doris Legorreta, and they had three children: Juan Domingo, Karen, and Doris. Juan Domingo Beckman has been the company’s director general for the past 20 years.
The Beckmann family, according to the Forbes list, ranks 11th among Mexico’s wealthiest families.
Key Questions and Answers
- Who is Becle? Becle is the world’s largest tequila producer and owner of the famous José Cuervo brand.
- What led to the surge in Becle’s stock? The stock surged following a strong third-quarter financial report that exceeded market expectations.
- What are Becle’s primary markets? North America, specifically the United States and Canada, is Becle’s primary market, accounting for a significant portion of its revenue.
- Who are the Beckmann family? The Beckmann family, led by Juan Francisco Beckmann Vidal, has controlled Becle for decades and is one of Mexico’s wealthiest families.
