BeFra Reports Strong Q1 2026 Profitability Gains As Betterware Returns To Growth

BeFra, parent company of Betterware and Jafra, reported first quarter 2026 results showing stronger profitability, improved cash flow, and continued progress across its brand platform in Mexico, the United States, and Latin America.

For the quarter, consolidated net revenue increased 0.3% year-over-year to Ps. 3.51 billion. EBITDA increased 13.9% to Ps. 609.9 million, while EBITDA margin expanded to 17.4%, up 211 basis points compared with Q1 2025.

Net income increased 86.7% to Ps. 281.4 million, and earnings per share rose 85.7% to Ps. 7.54. Free cash flow also improved significantly, reaching Ps. 351.5 million, compared with negative free cash flow of Ps. 55.8 million in the prior-year quarter.

The results reflect BeFra’s continued focus on operational discipline, profitability, and long-term growth across its portfolio of direct selling brands.

Betterware Returns To Growth

Betterware Mexico and subsidiaries returned to growth in the first quarter, with net revenue increasing 2.6% year-over-year to Ps. 1.44 billion. EBITDA rose 12.9% to Ps. 295.3 million, while EBITDA margin improved to 20.5%.

The company reported that Betterware’s associate base increased 2.8% year-over-year, while the end-of-period associate base was up 5.5%. Management also noted that Q1 2026 included one fewer week than Q1 2025, and that Betterware Mexico’s average weekly revenue increased 3.3%.

Jafra Mexico Improves Profitability

Jafra Mexico reported net revenue of Ps. 1.86 billion, slightly down 0.6% compared with the prior-year quarter. However, profitability improved, with EBITDA increasing 10.0% to Ps. 315.5 million and EBITDA margin expanding to 17.0%.

BeFra said Jafra Mexico remains a key focus for 2026, with renewed emphasis on consultant base growth, commercial execution, and product innovation.

Jafra US Shows Recovery Momentum

Jafra US continued to show improving underlying momentum. While revenue declined 6.5% in Mexican pesos due to foreign exchange effects, net revenue increased 8.6% in U.S. dollars to $12.0 million.

Management said Jafra US is showing clear signs of returning to growth, supported by stronger commercial execution and improving field engagement.

Latin America Expansion And Tupperware Acquisition

BeFra also highlighted its continued geographic expansion, including the launch of operations in Colombia in March 2026.

The company’s pending acquisition of Tupperware’s Latin America operations remains a major strategic growth catalyst. BeFra said final regulatory approvals are expected in the second quarter of 2026, and that the transaction is expected to be highly accretive, with estimated 40% earnings-per-share accretion in 2026.

2026 Outlook

BeFra maintained its 2026 guidance for net revenue of Ps. 14.8 billion to Ps. 15.4 billion, representing expected growth of 4.0% to 8.0% over 2025. Management also continues to expect an EBITDA margin of at least 19% for the year.

Current guidance does not reflect the pending Tupperware Latin America transaction and will be revised once the transaction is finalized.

About BeFra

BeFra, formerly Betterware de México, S.A.P.I. de C.V., is a direct selling company listed on the New York Stock Exchange under the ticker symbol BWMX. The company operates a portfolio of brands including Betterware and Jafra, with a growing presence across Mexico, the United States, and Latin America.

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BeFra Reports Strong Q1