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Betterware de Mexico's Q2 Results Disappoint And The Future Looks Bleak


  • In early 2022, the company increased product prices by 12%, but it seems that this is backfiring as revenues and EBITDA shrank by over a third in Q2 ex-Jafra.
  • According to the revised 2022 guidance, the second half of the year isn’t expected to be better than the first one.
  • In addition, Betterware de Mexico is now leveraged to the bone, and a global recession could push it into a large capital increase.
  • Looking for a helping hand in the market? Members of Bears and Resources get exclusive ideas and guidance to navigate any climate. Learn More »

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The COVID-19 pandemic proved to be a period of strong growth for Mexican household products direct-to-consumer company Betterware de México, S.A.P.I. de C.V. (NASDAQ:BWMX). I wrote a bullish article on it shortly after the announced purchase

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This article was written by

Gold Panda profile picture

Gold Panda has been working as an M&A analyst for over 11 years. He's been investing since 2007. Preferring value to growth, he tends to take a relatively conservative approach in his investing. His focus is on small and micro-cap stocks, which he believes is the area which offers the greatest opportunity to exploit market mis-pricings.

Gold Panda is part of the team that runs the investing group Microcap Review. He provides a real-time portfolio to the group. Microcap Review focuses on three areas of opportunity in the micro-cap space: arbitrage and special situations, net-nets and undervalued stocks. Learn more.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I am not a financial adviser. All articles are my opinion - they are not suggestions to buy or sell any securities. Perform your own due diligence and consult a financial professional before trading.

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Comments (5)

"Unlike many other MLMs, Betterware de Mexico doesn't offer any commissions to recruit new people"

Course not, that's illegal. However, recruiting, and selling those recruits a starter kit, online access subscription, or tickets to a seminar/conference/convention, or training materials is totally legal.
A little too late to the MLM party. The internet is killing off the industry and regulators are being pressured to act.
Gold Panda profile picture
@Virtue16 they have a B2C app, it's just like any other online store
@Gold Panda Sorry, not buyin it......nor is the market......apparently.
Gold Panda profile picture
@Virtue16 that doesn't mean you're right
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