BeFra Revenue Jumps 43.1% in Third Quarter on Tupperware Addition
Key Facts
BeFra reported record revenue of 4,832 million Mexican pesos in the third quarter of 2026, up 43.1% from a year earlier, according to its official earnings statement. Management attributed the revenue surge to the "first full-quarter contribution" from Tupperware operations, which joined the group after the acquisition closed in June. In the existing businesses, organic revenue growth, which excludes Tupperware and includes Betterware and Jafra, was limited to 2.3% during the period. Jafra's revenue alone fell 2.8% year on year amid weak productivity, according to the company's earnings release. Management pointed to a need for more targeted promotions for the brand amid the sales decline. The results were thus driven by the addition of Tupperware, alongside more modest growth in the combined revenue of the other two brands.
BeFra's net profit rose to 390,300 thousand Mexican pesos in the third quarter of 2026, according to the earnings table published by the company. The group compared that with net profit of 314,205 thousand Mexican pesos in the third quarter of 2025, representing a year-on-year increase of 24.2%. Earnings before interest, taxes, depreciation and amortization also grew 39.6% from the same period last year. However, the group's EBITDA margin fell to 20.9% from 21.4% a year earlier, according to the official disclosure. EBITDA grew more slowly than revenue as the consolidated margin declined. The year-on-year increase in net profit was also slower than the increases in both sales and EBITDA.
Tupperware, whose addition helped drive the jump in group revenue, recorded a 6.8% year-on-year decline in total revenue, according to the historical combined comparison BeFra provided for the third quarter. The company attributed the decline to exceptional sales in the comparison period through channels discontinued after the acquisition. Those earlier sales were included in the year-on-year comparison of the brand's total revenue, while the channels were discontinued after the operations transferred to BeFra. Meanwhile, revenue from Tupperware's core direct-selling channel rose 14.0% from the same period a year earlier, according to the earnings statement. Mexico led growth in this channel, which recorded higher sales as the brand's total revenue declined on the combined comparison basis.
BeFra completed the purchase of Tupperware's Latin American operations in June 2026 for $250 million, according to the announcement of the deal's closing. The consideration included $215 million in cash that the company financed with debt, making borrowing part of the funding for its acquisition-led expansion. The remaining $35 million was paid in new shares issued by BeFra as part of the transaction. The acquisition funding thus combined debt-financed cash consideration with new shares in the acquiring group. The deal also gave BeFra a perpetual, exclusive, royalty-free license to use the Tupperware brand in Latin America, according to the terms the company announced when the acquisition closed.
For the full year 2026, BeFra raised its post-acquisition revenue growth forecast to a range of 24% to 26%, according to the earnings statement. Its previous guidance called for growth of 18% to 22%, before the increase announced with the third-quarter results. In a separate announcement in October 2026, the company declared a cash dividend of approximately $0.3424 per share. That amount represents the dividend before tax withholdings, as specified in the company's announcement to shareholders. The dividend is payable to shareholders of record on November 5, 2026. Payment is scheduled for November 19, 2026, according to the timetable announced by BeFra.