CHILE · COMPANY RESULTS
Key Facts
- Profit: CLP 16.27 billion (about US$16.6 million) in July to September, up 5% on a year earlier.
- Sales: Net sales rose 15.5% to CLP 760.4 billion (about US$774 million), with volumes up 4.4%.
- Restructuring: A one-off cost of CLP 9.7 billion (about US$9.8 million) held back operating profit.
- Nine months: Profit fell 20.4% to CLP 49.4 billion (about US$50.3 million) from January to September.
- US shares: CCU trades on the New York Stock Exchange; each American depositary receipt represents two shares.
- Power Index Chile ranks 3rd of 14 in The Rio Times Latin America Power Index, with 62.9 points (November 2026 edition).
CCU profit rose 5% to CLP 16.27 billion (about US$16.6 million) in the third quarter, the Chilean drinks group said. Sales jumped 15.5% to CLP 760.4 billion (about US$774 million).
CCU sells beer brands such as Royal Guard and Heineken, plus soft drinks, water and wine, and its shares trade in New York. It published the July to September results on Tuesday 3 November 2026, and dollar figures use CLP 981.82 per US$1, the observed rate that day.
What CCU Reported
Net income was CLP 16.27 billion (about US$16.6 million), against CLP 15.50 billion (about US$15.8 million) in the third quarter of 2025. Earnings per share were CLP 44.0 (about US$0.045), up from CLP 41.9 (about US$0.043).
EBITDA, a measure of operating profit before interest, taxes and depreciation, rose 13.4% to CLP 83.5 billion (about US$85 million). The EBITDA margin, which is EBITDA as a share of sales, slipped 20 basis points to 11.0%.
Total volume grew 4.4% to 8.44 million hectolitres, and a hectolitre is 100 litres. Every business area sold more than a year earlier, and CCU describes the growth as mid-single-digit in each of them.
Where the Growth Came From
In Chile, net sales rose 6.0%, led by 5.0% higher volumes and 1.0% higher average prices. EBITDA in Chile grew 16.3% to CLP 73.0 billion (about US$74.4 million), helped by beer brands such as Royal Guard and Heineken.
The company says its non-alcoholic drinks, such as soft drinks and water, grew by high single digits in Chile. Average prices rose in every category through what CCU calls revenue growth management.
The International Business, mainly Argentina plus Bolivia, Paraguay and Uruguay, saw net sales climb 52.8%. EBITDA there reached CLP 11.9 billion (about US$12.1 million), up 74.1%, mostly on higher prices in Argentina, which outweighed a mid-single-digit volume drop in non-alcoholic drinks.
The wine business grew net sales 3.4%, but EBITDA fell 35.5% to CLP 7.1 billion (about US$7.2 million). Without restructuring charges the fall would have been 11.0%, and a stronger Chilean peso against the dollar cut export revenue.
Restructuring, Taxes and Debt
CCU booked restructuring expenses of CLP 9.66 billion (about US$9.8 million) in the quarter, which it says will bring synergies and efficiency gains. Without them, EBITDA would have grown 21.3% instead of 13.4%.
Taxes were a gain of CLP 718 million (about US$0.7 million), against a charge of CLP 12.3 billion (about US$12.5 million) a year earlier. That swing helps explain why profit rose even though the wine business weakened.
Net financial debt was CLP 978 billion (about US$996 million) at 30 September, up from CLP 762 billion (about US$776 million) in December. Net debt divided by EBITDA, a common measure of leverage, rose to 2.46 times from 2.03 times.
Nine Months and the Strategic Plan
For January to September, profit fell 20.4% to CLP 49.4 billion (about US$50.3 million), from CLP 62.1 billion (about US$63.2 million). Net sales for the nine months rose 6.4% to CLP 2.19 trillion (about US$2.23 billion), and EBITDA grew 9.7%.
The chief executive said CCU delivered higher financial results and strengthened its regional competitive position. Management also set out a 2027 to 2030 strategic plan called Vamos por Más, which means “Let’s go for more.”
The plan sets six priorities to accelerate sales growth. They include new drinking occasions for alcoholic drinks, “better for you” products and a faster, leaner logistics network.
In Plain English, Who Is Who
CCU, short for Compañía Cervecerías Unidas, is a Chilean company that brews and sells beer and also makes soft drinks, water and wine. It operates in Chile, Argentina, Bolivia, Paraguay and Uruguay.
An American depositary receipt, or ADR, is a certificate that lets US investors hold foreign shares on a US exchange. Each CCU ADR stands for two ordinary shares and trades on the New York Stock Exchange.
What It Means for You
US investors who hold the CCU ADR own a share of Chilean and Argentine beer sales, so currency moves matter as much as volumes. Profit is reported in Chilean pesos, and a stronger peso lifts the dollar value of CCU’s earnings while hurting its wine exports.
Our report on Chile’s September industry and retail data shows how Chilean shoppers are spending. Our Chile market report for 5 November shows how Chilean stocks and the peso traded this week.
What Is Not Known
It is not yet known whether the quarterly gain will last, because nine-month profit is still 20.4% lower than a year ago. CCU’s fourth-quarter results, due early next year, will show whether the full year ends higher or lower.
It is also not yet known what financial targets CCU will attach to its 2027 to 2030 plan. The chief financial officer, Felipe Dubernet, can answer when CCU next updates investors.
More: Latin America news in English, every day from The Rio Times.
Frequently Asked Questions
How much profit did CCU make in the third quarter of 2026?
CCU earned CLP 16.27 billion (about US$16.6 million), up 5% from a year earlier. Earnings per share were CLP 44.0 (about US$0.045).
Why did CCU’s sales rise 15.5%?
Total volume grew 4.4%, with all three business areas selling more, and average prices rose in Chile. International sales, mainly Argentina, climbed 52.8%.
Can US investors buy CCU shares?
Yes, through the American depositary receipt that trades on the New York Stock Exchange under the ticker CCU. Each receipt represents two ordinary shares.
What is CCU’s restructuring cost?
CCU booked CLP 9.66 billion (about US$9.8 million) of restructuring expenses in the quarter. Without them, EBITDA would have grown 21.3%.
Sources: Compañía Cervecerías Unidas, third-quarter 2026 earnings release (Form 6-K, US Securities and Exchange Commission), Tuesday 3 November 2026; Banco Central de Chile, observed dollar of CLP 981.82 per US$1, Tuesday 3 November 2026.
In depth
Editorial responsibility: Matthias Camenzind, Editor-in-Chief · Editorial standards · Report an error
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