Alpek reports third-quarter profit and raises 2026 outlook

Mexican petrochemical company Alpek reported a significant turnaround in its third-quarter financial results, posting a net income of approximately 259.8 million euros (equivalent to 5.446 billion Mexican pesos). This marks a substantial recovery from the losses recorded during the same period the previous year.

Revenue for the quarter reached approximately 5.001 billion euros, representing a 6% increase compared to the same period last year. The company's EBITDA doubled year-over-year, growing by 122.3% to reach 723.5 million euros. Management attributed these results to disciplined execution and favorable market conditions, including elevated Chinese PET reference margins and ocean freight rates.

Following these results, Alpek has raised its 2026 comparable EBITDA outlook to $990 million, up from its previous guidance of $750 million to $800 million. CEO Jorge Young noted that the company's local-for-local production strategy is yielding strong results, particularly within North America.