La Jornada: The CFE recorded losses of 402 million pesos in the first quarter

The Federal Electricity Commission (CFE) recorded losses of 402 million pesos in the first quarter of 2026; In contrast, in the same period last year, the loss was 16 billion, according to the financial report that the company sent to the Mexican Stock Exchange (BMV).

Due to “exchange fluctuations in the valuation of obligations in foreign currency, the CFE recorded a negative net result of 402 million pesos; however, this does not mean an outflow of cash flow for the company, but only a movement in a virtual item,” he commented in a statement. He added that in aggregate terms, the result reflects an improvement of 97.5 percent compared to what was reported in the first quarter of 2025.

The company obtained total income of 159 thousand 659 million pesos, of which those generated from the sale of electrical energy totaled 114 thousand 911 million.

Energy sales to the industrial and domestic sectors grew 15 and 6.8 percent, respectively. Meanwhile, total costs decreased 15.9 percent, representing 126,898 million pesos, highlighting the 33.2 percent reduction in the cost of energy and other fuels, mainly due to lower prices of natural gas and a 22.2 percent drop in the cost of fuels sold to third parties, according to CFE.

Competitive advantage

“This represents a competitive advantage for the CFE, by accessing favorable prices in the North American market, despite the upward pressure on international fuel prices due to the conflict in the Strait of Hormuz,” he assured. Likewise, reductions were recorded in some operating expenses such as maintenance, materials, general services, duties and taxes.

“The efficiency obtained in managing costs and expenses allowed us to achieve an operating profit of 32,761 million pesos. This level represents an increase of 133.3 percent compared to the first quarter of 2025,” the company mentioned.

Ebitda, an indicator that shows results before interest, taxes, depreciation and amortization, stood at 55,843 million pesos, compared to the 36,781 million pesos obtained in March 2025.

This level of Ebitda represents a margin of 35 percent of total revenues, the highest in the past six years.

Regarding the statement of financial position, the three main concepts of total assets, total liabilities and equity showed stable performance compared to the end of 2025.

The value of the CFE’s total assets was 3 billion pesos, which validates its position as the largest company in Mexico valued by total assets, without considering companies belonging to the financial sector.

CFE’s operational efficiency in the first quarter of 2026, together with financial discipline in the management of its debt, allowed it to achieve an improvement in the level of leverage, going from 4.8 times at the end of last year to 4.5 times as of March 2026.