América Móvil (AMXL) Q2 2026 earnings summary

Executive summary

• Added 3.5 million postpaid subscribers in Q2 2026, led by Brazil; fixed broadband and Pay TV also saw strong growth, with broadband accesses up 531,000 units.

• Revenue rose 3.1% year-over-year to MXN 241 billion; service revenue up 5.1% at constant exchange rates.

• Net income increased 9.2% year-over-year to MXN 24.3 billion, or MXN 0.40 per share.

• Mobile postpaid and fixed broadband accesses grew 9.1% and 6.1% year-over-year, respectively.

• Acquisition of WOW Peru announced, expanding fiber broadband presence in Peru.

Financial highlights

• EBITDA grew 3.8% year-over-year to MXN 96 billion; excluding a one-off charge, EBITDA would have increased 6.7%.

• Operating profit reached MXN 52 billion, up 9.5% year-over-year.

• Free cash flow for H1 2026 was MXN 43 billion, more than double the prior year.

• Capital expenditures for H1 2026 totaled MXN 48 billion; share buybacks MXN 4.6 billion.

• Net debt decreased by MXN 31 billion, with leverage ratio at 1.31x Net Debt/LTM EBITDAAL.

Outlook and guidance

• Expecting mobile revenue growth to recover in Brazil in Q3 and more in Q4, depending on competitive intensity.

• CapEx guidance remains at $7 billion for the year, with no plans to adjust.

• Focus remains on maintaining leverage between 1.2x and 1.5x net debt/EBITDA.

• Continued focus on expanding digital connectivity, especially in Peru with the WOW acquisition.

• Open to further fiber and broadband acquisitions to drive growth and synergies.