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home / news releases / AMX - America Movil: Disappointing Q1 Earnings Downgrading To Sell

AMX - America Movil: Disappointing Q1 Earnings Downgrading To Sell

America Movil S.A.B. de C.V.n Depository Receipt Series L

2024-04-18 08:29:44 ET

Summary

  • Q1 earnings for America Movil were disappointing, with revenue and EBITDA growth falling below my expectations.
  • AMX's strategy is not gaining momentum, with ARPU falling below inflation and unimpressive volume gains in nearly every market.
  • Management's inability to make any headway on margin expansion and the negative impact of macro factors on net income have led me to lack of confidence in a financial turnaround.
  • With a price target of $15, 15% downside from today, I am lowering my rating from hold to sell.

I am updating my previous analysis of America Movil ( AMX ) in light of Q1 2024 earnings....

For further details see:

America Movil: Disappointing Q1 Earnings, Downgrading To Sell
Stock Information
Company Name: America Movil S.A.B. de C.V.n Depository Receipt Series L
Stock Symbol: AMX
Market: NYSE
Website: americamovil.com
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