Cuervo’s Profits Boosted By Weaker Peso In First Quarter
April 30, 2025Grupo Cuervo posted net income up 16% to $59 million in its fiscal first quarter ended in March, boosted by a weaker peso against the U.S. dollar. Cuervo’s sales dipped 7% on a like-for-like basis to $491 million on volume down 8% to 4.9 million cases.
U.S. and Canada volume decreased 3.6% to 3.1 million cases in the first quarter, “driven by challenges in the ready-to-drink and non-alcoholic categories, partially offset by a strong performance in Tequila,” according to the company. On a constant currency bases, North America sales were flat at $318 million, although they grew 20% with the benefit of currency changes. The company also saw continuing premiumization in its Tequila business.
“The resilience of our core categories, especially Tequila, and continued execution of our premiumization strategy have reinforced our position in the market,” Cuervo noted. Still, it warned of “ongoing industry pressures and cautious consumer sentiment” as challenges to growth.—Daniel Marsteller
| Proximo Spirits—Key Brands in the U.S. (thousands of 9-liter case depletions) |
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| Brand | Type | 2023 | 2024E | Percent Change1 |
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|---|---|---|---|---|---|---|
| Jose Cuervo | Tequila | 5,020 | 4,920 | -2.0% | ||
| Jose Cuervo Margaritas | Pre-Mixed Cocktail | 2,570 | 2,275 | -11.5% | ||
| 1800 | Tequila | 2,100 | 2,045 | -2.6% | ||
| 1800 Ultimate Margarita | Pre-Mixed Cocktail | 1,035 | 860 | -17.0% | ||
| Pendleton | Canadian Whisky | 522 | 506 | -3.0% | ||
| The Kraken | Imported Rum | 378 | 340 | -10.0% | ||
| Gran Centenario | Tequila | 242 | 271 | 12.0% | ||
| Proper No. 12 | Irish Whiskey | 309 | 269 | -13.0% | ||
| Bushmills | Irish Whiskey | 185 | 170 | -8.5% | ||
| Maestro Dobel | Tequila | 131 | 129 | -2.0% | ||
| Gran Coramino | Tequila | 79 | 90 | 29.5% | ||
| 400 Conejos | Mezcal | 51 | 70 | 37.5% | ||
| Total Key Brands2 | 12,613 | 11,944 | -5.3% | |||
| 1 Based on unrounded data. 2 Addition of columns may not agree due to rounding. Source: IMPACT DATABANK © 2025 |
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Tagged : 1800, Jose Cuervo, Proximo
