Mexico's CFE reports 31% profit drop despite best operating performance since 2018

The Comisión Federal de Electricidad (CFE) posted a net profit of 47.623 billion pesos for the first half of 2026, a 30.7% decline from the same period a year earlier. Revenue fell 2.2% to 332.229 billion pesos, while cost of sales decreased 8.4%, allowing gross profit to rise 22.7%. EBITDA reached its highest level for a first‑half period since 2018, indicating improved operational efficiency.

Debt continued to climb, with long‑term obligations rising 14% to 395.444 billion pesos and supplier debt up 10.6%. More than half of CFE’s debt is dollar‑denominated, and a weaker foreign‑exchange gain of 21.321 billion pesos was cited as the main driver of the profit decline. The utility serves about 50.1 million customers across Mexico.