FIBRA Macquarie México (FIBRAMQ12) Earnings Call Transcripts
FIBRA Macquarie México's Latest Earnings Call - Q1 FY2026
In the first quarter of 2026, FIBRA Macquarie México reported steady financial performance amid a challenging market environment, with revenue and earnings in line with expectations. The company achieved record quarterly EBITDA of $55.1 million, up 6.7%, and record quarterly FFO of $38.5 million, up 6.8%. Management updated their full year 2026 AFFO guidance to between MXN 2.54 and MXN 2.64 per certificate, reflecting additional funding expenses related to a significant land acquisition in Tijuana.
Reported metrics
| Metric | Value |
|---|---|
| EBITDA | $55.1 million (beat) |
| FFO | $38.5 million (beat) |
| AFFO per certificate | MXN 0.65 (beat) |
| NAV per certificate | MXN 49.7 (beat) |
| Industrial NOI | $51.2 million (beat) |
| Occupancy Rate | 94.6% (neutral) |
Guidance from management
Management updated their full year 2026 AFFO guidance to between MXN 2.54 and MXN 2.64 per certificate, reflecting additional funding expenses from the Tijuana land acquisition. Distribution guidance remains unchanged at MXN 2.45 per certificate.
What management said
Okay. That was quick. And look, thank you, Alicia, and thanks, everyone, for participating in today's call. Along with Andrew, I would like to thank all of our stakeholders for ongoing support, and we look forward again to speaking with you over the coming days and weeks as we go through this quarter. So thanks very much, everyone.
What analysts pressed on
Analysts expressed concerns regarding the slight decline in occupancy and the potential impact of broader market conditions on leasing activity. There were questions about the company's ability to backfill spaces and manage lease expirations effectively in a softening market.
Main topics on the call
- Land Acquisition — FIBRA Macquarie completed its largest land acquisition to date, acquiring a 124-hectare parcel in Tijuana for $114 million. This site is expected to support the future development of up to 3.4 million square feet of Clas...
- Leasing Activity — The company executed new and renewal leases on approximately 1.6 million square feet of GLA, achieving leasing spreads of 13.8%. This performance supported a year-over-year rental rate increase of 6.1%, indicating strong...
- Market Outlook — Management expressed a cautiously optimistic outlook on the Mexican real estate market, noting a 'softening backdrop' with industrial vacancy rates increasing by approximately 100 basis points. However, they highlighted ...
- Financial Performance — FIBRA Macquarie reported record quarterly EBITDA of $55.1 million and record quarterly FFO of $38.5 million, both reflecting solid year-over-year growth. The company also noted a 1.2% increase in NAV per certificate to M...
Read the full FIBRA Macquarie México transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About FIBRA Macquarie México
FIBRA Macquarie México (FIBRAMQ12) is a publicly listed company in the Industrial REITs industry, within the Real Estate sector. It trades on BMV and is based in MX. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 25 calls on record spanning January 31, 2020 to April 24, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 25 FIBRA Macquarie México earnings call transcripts on record, spanning January 31, 2020 to April 24, 2026. Based on this history, FIBRA Macquarie México reports quarterly. The most recent call on file is dated April 24, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- FIBRAMQ12
- Exchange
- BMV
- Country
- MX
- Sector
- Real Estate
- Industry
- Industrial REITs
- Calls on record
- 25
- First call
- January 31, 2020
- Most recent
- April 24, 2026
- Reporting cadence
- quarterly