Overview
- Full‑year net income fell 44.5% to 8,026 million pesos, while fourth‑quarter revenue slipped 4.7% to about 54.86 billion pesos and operating profit dropped 40.9% to 4,102 million.
- Executives attributed the weakness to the completion of major infrastructure projects, peso appreciation versus the dollar, inflationary wage and expense pressures, and technology investments at Sanborns.
- CICSA posted a 471 million‑peso loss on Q4 revenue down 35.9%, though the unit closed 2025 with a 68,646 million‑peso backlog that the company says should support a rebound.
- Energy outperformed: Carso Energy lifted quarterly net profit 10.1% to 388.6 million pesos, Zamajal revenue rose to 2,055 million, and the group confirmed a new Pemex contract for the Macavil field.
- Leverage fell sharply with total debt at 36,808 million pesos and net debt at 13,211 million, Pemex has largely paid older arrears with 2025 invoices pending, and capex of $800–1,000 million is planned to scale projects such as Ixachi and Ichalkil/Pokoch.