América Móvil, S.A.B. de C.V. Q1 FY2026 earnings call

Discussed currency movements including the peso appreciating versus other currencies, subscriber growth trends (postpaid up 8.8% y-o-y, broadband up 6% y-o-y), revenue breakdown by segments, EBITDA growth, CapEx plans around $7 billion for 2026, M&A activities like closing Azteca network in Colombia, challenges in Argentina's fixed line deployment in Buenos Aires, discussions on Starlink partnership, impact of NuCel partnership on Brazil mobile, Mexico mobile growth drivers (economy improvement, prepaid and postpaid growth), working capital factors (inventory increase due to handset sales and pricing), broadband in Mexico and Brazil trends, and trends in Colombia and other regions with focus on digitalization and cost control.

First quarter revenue was up 2.1% in Mexican peso terms to MXN 237 billion, with service revenue up 0.6%, equipment revenue 7.4% and other revenue 108%. Postpaid subscriber growth increased 8.8% year-over-year, and broadband accesses grew 6%. EBITDA increased at 3.8% in Mexican peso.

CapEx for 2026 is around $7 billion, with next years expected to be around that level, and Investor Day in May to finalize future CapEx numbers.

Currency fluctuations impacting financial results, difficulties in deploying fixed line in Argentina's Buenos Aires, competition impacts on market share and growth.

Q: On capital allocation and buybacks, balance between deleveraging and buybacks, leverage for buybacks, M&A impact on free cash flow.

A: Discussed balance between buybacks, deleveraging, and regional opportunities.

Q: CapEx plan for 2026 and Argentina fixed line.

A: CapEx around $7 billion, Argentina fixed line challenges in Buenos Aires.

Q: Starlink partnership in Mexico.

A: Discussing with Starlink, direct-to-cell service expected in 2027.

Q: NuCel partnership and Mexico M&A.

A: NuCel partnership expanding number portability, Mexico M&A impact uncertain.

Q: Mexico Mobile growth drivers and working capital.

A: Mexico Mobile growth due to economic improvement, working capital due to inventory and handset financing.

Q: Mexico operating side disconnections and broadband net adds.

A: Disconnections due to line registration, broadband net adds expected to continue.

Q: Mexican broadband competition and Brazil price increase.

A: Discussed broadband competition and no price increase plans in Brazil.

Q: Colombia trends and Mexico margin improvement.

A: Colombia trends driven by investment in 5G, Mexico margin improvement from speed upgrades and digitalization