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Becle’s logistics headache passes, pandemic still weighs on exports

Consumer Staples 683 Earnings 583 Mexico 787 Quote Watch 351

Becle, producer of the Jose Cuervo tequila brand, reported Q4’20 revenues which included a 1.2% dip in volumes sold. While sales in the U.S. and Canada increased on home consumption of its products, the pandemic-related closure of bars in the rest of the world held sales back. Mexican exports of tequila linked to the firm increased by just 0.8% year over year in Q4’20 after a surge in Q3’20. The firm “did see a cost creep there in distribution” but is implementing a new logistics facility which will “achieve savings as it ramps up” according to CFO Fernando Suárez Gerard. Other tequila e...

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