MEXICO · RESTAURANTS
Key Facts
- The country Mexico is Latin America’s second-largest economy, and Alsea is the Mexican group that runs Starbucks, Domino’s and Burger King restaurants there and in Europe.
- What happened On 20 October 2026 Alsea published results for July to September, with net sales of 21.4 billion pesos (about US$1.16 billion), up 2.0%.
- The profit Net profit rose 48.5% to about US$30 million, but earnings of 0.68 pesos (about US$0.04) a share trailed analyst consensus.
- The Starbucks signal Same-store sales at Starbucks Mexico rose 3.1%, after a decline in the previous quarter.
- What it means for you Alsea sells US brands to Mexican consumers, so its sales show how willing households are to spend on American names.
- Still open Europe and South America are still weak, and share reaction on 21 October is not yet known.
- Power Index Mexico ranks 2nd of 14 in The Rio Times Latin America Power Index, with 71.4 points (October 2026 edition).
The Alsea profit for the third quarter of 2026 rose 48.5% to about 545 million pesos (about US$30 million), yet it missed forecasts. Alsea is the Mexican group that runs Starbucks, Domino’s Pizza and Burger King in Mexico, Spain and Chile.
For US readers, the Alsea profit report shows how Mexican households treat American brands in a tight economy. Pesos in this article are converted at about 18.44 to the US dollar.
What Alsea Reported
Net sales for July to September reached 21,397 million pesos (about US$1.16 billion), up 2.0% from a year earlier, El Financiero reported. Operating profit rose 4.5% to 2,135 million pesos (about US$116 million).
EBITDA, a measure of operating earnings, slipped 0.7% to 4,396 million pesos (about US$238 million). Net profit was about 545 million pesos (about US$30 million), up from 367 million (about US$20 million), per Banco Ve por Más.
Why the Alsea Profit Missed Forecasts
Earnings per share came in at 0.68 pesos (about US$0.04), while analysts had expected 0.87 pesos (about US$0.05), according to results-calendar data. Alsea profit can rise 48.5% and still trail analyst consensus.
Banco Ve por Más read the results as in line with its own expectations. It tied the gain to operating results, currency gains, lower interest and a smaller tax bill, which are less lasting than higher sales.
Starbucks Mexico Turns the Corner
Same-store sales at Starbucks Mexico rose 3.1% in the quarter, a swing of about five percentage points from the previous quarter, El Financiero reported. Same-store sales compare stores open for at least a year, so they strip out the effect of new openings.
Chief executive Christian Gurría said the group was resuming “the growth pace with which we started the year”. Our earlier report Alsea Starbucks Deal to 2046 Amid Weak Mexico Spending covers the 20-year licence renewal with the US coffee chain.
Mexico Grows While Europe Shrinks
Sales in Mexico rose 5.9% to 12,150 million pesos (about US$659 million), about 57% of the group total. Europe fell 4.6% to 6,079 million pesos (about US$330 million), though sales in euros rose 2.8%.
South America grew 1.1% to 3,169 million pesos (about US$172 million), as weaker currencies and a tough Chilean consumer weighed. Same-store sales for the whole group rose 4.2%, up from 2.6% in the second quarter.
Cash, Debt and New Stores
Free cash flow for nine months was 955 million pesos (about US$52 million), after 3,006 million pesos (about US$163 million) of store spending. Net debt fell to 2.5 times EBITDA from 2.6 times, according to Banco Ve por Más.
The group ended September with 4,835 restaurants, including 46 opened during the quarter, Cúspide México reported. Expansion remains one of the company’s main growth drivers, according to Banco Ve por Más.
What It Means for US Readers
Alsea runs Starbucks, Domino’s and Burger King under licence, so Alsea profit and sales show how Mexican families treat US brands when money is tight. A recovery at Starbucks Mexico suggests demand for US coffee is holding up, though one quarter is a short record.
Investors can follow the company’s financials in our Company Intelligence profile on Alsea. Borrowing costs and the peso also shape its results, as our Mexico Markets report for 19 October shows for the wider market.
What Is Not Known
The reaction of Alsea shares on Wednesday 21 October is not yet known. Banco Ve por Más listed the stock at 52.33 pesos (about US$2.84) on 20 October, a market value near US$2.19 billion.
The company has not given details of its full-year 2027 plan, which it is expected to present in February. Banco Ve por Más said the annual targets set earlier in 2026 were reaffirmed.
What Comes Next
Attention now turns to the fourth quarter, when holiday spending usually lifts restaurant sales in Mexico. Investors will watch whether Starbucks Mexico can keep growing.
The next full report is due early in 2027. It will show whether the Alsea profit gain came from lasting sales growth or from one-off currency and tax effects.
More: Mexico news in English, every day from The Rio Times.
Frequently Asked Questions
What is Alsea?
Alsea is a Mexican restaurant group listed on the Mexican stock exchange. It runs Starbucks, Domino’s Pizza, Burger King, Vips and other chains in Mexico, Spain, Chile, Argentina, France and elsewhere.
How much was the Alsea profit in the third quarter?
The Alsea profit was about 545 million pesos (about US$30 million), up 48.5% from a year earlier. Earnings per share were 0.68 pesos (about US$0.04).
Why did the results count as a miss?
Analysts had expected earnings per share of 0.87 pesos (about US$0.05), and the company reported 0.68 pesos (about US$0.04). Alsea profit still rose sharply because last year’s quarter was weak.
How did Starbucks Mexico do?
Same-store sales at Starbucks Mexico rose 3.1% in the quarter. That reversed the decline of the previous quarter.
Is Alsea owned by Starbucks or Domino’s?
No, Alsea is an independent Mexican company that operates these US brands under licence. It does not belong to either brand’s US owner.
Sources: El Financiero, 20 October 2026; Cúspide México, 21 October 2026; Banco Ve por Más, 20 October 2026; Europa Press via Infobae, 21 October 2026.
In depth
Editorial responsibility: Matthias Camenzind, Editor-in-Chief · Editorial standards · Report an error
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