San Miguel Food and Beverage, Inc. (SMFB) posted a 9% decline in consolidated net income to ₱30.6 billion in the first nine months of 2026, from a year earlier, as higher costs and weaker consumer demand weighed on earnings.
In a statement on Wednesday, November 5, the company reported consolidated sales of ₱309.6 billion, up 2% from the same period last year, supported by growth in its food and spirits businesses.
Despite the increase in sales, operating income fell 9% to ₱40.6 billion, reflecting higher costs and increased brand spending amid more cautious consumer spending.
Gross profit also declined to ₱85.7 billion, while earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped 5% to ₱55.5 billion. The company recorded an EBITDA margin of 18%.
The results highlight the impact of rising operating expenses and softer consumer demand on the company’s profitability during the nine-month period.
📷 SMFB / Website
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