Core Viewpoint - America Movil has shown a positive trend in its stock performance, with shares increasing by approximately 3.2% since the last earnings report, outperforming the S&P 500 [1][2]. Financial Performance - For Q3 2025, America Movil reported a net income per ADR of 40 cents, significantly up from 11 cents in the same quarter last year, exceeding the Zacks Consensus Estimate of 36 cents [3]. - The net income for the quarter was Mex$22,700 million, compared to a net loss of Mex$6,427 million in the prior year, with comprehensive financing costs decreasing by 54.5% to Mex$12,899 million [4]. - Total quarterly revenues rose by 4.2% to Mex$232,919 million, driven by growth in both Service and Equipment segments [5]. Subscriber Growth - America Movil gained 235,000 wireless subscribers in Q3, including 98,000 postpaid and 136,000 prepaid subscribers, with significant contributions from Brazil and Colombia [6]. Regional Performance - Colombia experienced a revenue increase of 5.9%, with mobile service revenue growth at 7.8% due to the strong performance of its 5G network [8]. - Argentina's revenues grew by 7% year over year, supported by a recovering economy and strong mobile service revenue growth of 12% [9]. - Central America saw a revenue increase of 10.8%, while other regions like Brazil and Peru also reported positive growth [10]. Cost and Profitability - Total costs and expenses increased by 3.8% to Mex$139,096 million, while EBITDA rose by 5.2% to Mex$93,823 million, maintaining an EBITDA margin of 40.3% [11]. - The operating profit increased by 5.6% to Mex$50.1 billion [12]. Liquidity Position - As of September 30, 2025, America Movil had Mex$96,588 million in cash and short-term investments, against long-term debt of Mex$463,103 million [13]. Market Sentiment and Outlook - There has been a significant upward trend in earnings estimates, with a consensus estimate shift of 152.94% [14]. - America Movil holds a Zacks Rank 2 (Buy), indicating expectations for above-average returns in the coming months [16].

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Amer Movil (AMX) - Amer Movil currently holds a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating strong potential for outperformance [2][3] - The stock has shown significant price increases, with a 22.04% rise over the past quarter and a 52.75% increase over the last year, outperforming the S&P 500's gains of 6.64% and 15.78% respectively [6] Price Performance - Over the past week, AMX shares increased by 2.2%, while the Zacks Wireless Non-US industry declined by 0.92% [5] - The monthly price change for AMX is 8.12%, compared to the industry's performance of 0.58% [5] Trading Volume - AMX has an average 20-day trading volume of 1,687,459 shares, which is a useful indicator of market interest and can signal bullish or bearish trends [7] Earnings Outlook - In the past two months, two earnings estimates for AMX have been revised upwards, increasing the consensus estimate from $1.35 to $1.52 [9] - For the next fiscal year, two estimates have also moved upwards with no downward revisions [9] Conclusion - Given the positive momentum indicators and earnings outlook, Amer Movil is positioned as a strong buy candidate for investors seeking short-term opportunities [11]

Core Insights - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] - The Zacks Momentum Style Score helps investors identify stocks with strong momentum, addressing the challenges of defining momentum [2] Company Overview: Amer Movil (AMX) - Amer Movil currently holds a Momentum Style Score of B and a Zacks Rank of 1 (Strong Buy), indicating strong potential for outperformance [3][4] - Over the past week, AMX shares increased by 6.05%, outperforming the Zacks Wireless Non-US industry, which rose by 2.79% [6] - In the last month, AMX shares rose by 8.68%, significantly outperforming the industry’s 0.93% [6] - Over the past three months, AMX shares have risen by 26.23%, and over the last year, they are up 36.4%, compared to the S&P 500's increases of 7.05% and 18.26%, respectively [7] Trading Volume and Market Activity - AMX's average 20-day trading volume is 1,605,328 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the past two months, two earnings estimates for AMX have been revised upwards, increasing the consensus estimate from $1.35 to $1.52 [10] - For the next fiscal year, two estimates have also moved upwards with no downward revisions [10] Conclusion - Given the strong performance metrics and positive earnings outlook, AMX is positioned as a promising investment opportunity with a Momentum Score of B and a Zacks Rank of 1 (Strong Buy) [12]

Core Insights - The analysis of América Móvil (NYSE: AMX) indicates a "buy" position with the stock priced around $18.3, suggesting that the market has not fully reflected the company's business model [1] Group 1: Company Overview - América Móvil is viewed as an undervalued company with potential for long-term investment opportunities [1] - The company operates in a complex and dynamic market, particularly in Latin America, which presents unique investment prospects [1] Group 2: Analyst Background - The analyst is an economist and independent investor based in Argentina, currently pursuing a Ph.D. in Economics [1] - The research approach combines macroeconomic context with company-level valuation to identify long-term opportunities [1] - The investment philosophy focuses on underfollowed or undervalued companies, as well as established leaders with emerging structural value [1]

Core Insights - Amex Exploration Inc. announced significant assay results from a geomechanical drill program at the Champagne Zone, part of the Perron Project, with a notable assay of 213.11 g/t Au over 3.75 m, including a peak of 1106.50 g/t Au over 0.50 m, marking the highest grade assay to date on the property [1][3][4] - The geomechanical drilling program aims to gather data on rock mechanics to support the ongoing Phase 1 Feasibility Study, with initial results indicating good rock mass quality suitable for underground mining [3][4][10] Geomechanical Drill Results - The drill program consisted of three holes, with PEGT-25-001 yielding 25.19 g/t Au over 32.80 m, including the previously mentioned high-grade interval [4][18] - PEGT-25-002 returned 3.59 g/t Au over 11.70 m, with a notable 58.28 g/t Au over 0.70 m [4][20] - The results confirm the continuity of high-grade mineralization within the Champagne Zone, which is critical for the project's feasibility [3][4][10] Project Development and Feasibility Study - The Phase 1 Feasibility Study is progressing well, with the geomechanical drilling providing essential data for mine design and operational planning [3][10][27] - The study includes additional analyses on hydrogeology, geochemical properties of ore and waste, and environmental assessments, all of which are advancing positively [3][10] Geological and Rock Mass Characterization - The rock mass classification indicates a competent and rigid structure, with average unconfined compressive strength (UCS) of 116 MPa in rhyolite and 334 MPa in the diabase [15][16] - A dominant north-south trending joint set was identified, which will inform the mining sequence and risk assessments [16][17] Infrastructure and Location - The Perron Project is strategically located with excellent infrastructure, including proximity to major processing plants and accessibility via a year-round road [28][29]

Core Insights - América Móvil is open to consolidation opportunities in Latin America and acknowledges strategic progress in Chile and Brazil [1] Group 1: Strategic Developments - In Chile, América Móvil is jointly bidding with Entel for Spanish telecom assets despite facing intense competition and low market prices [1] - The Chilean market is performing well due to operational transformation and improved profitability [1] Group 2: Investments and Expansion - In Brazil, the subsidiary plans to acquire local broadband service provider Desktop [1] - The company continues to invest in fiber networks and enterprise digital services, emphasizing technological expansion and enhanced user experience to maintain regional leadership [1] - América Móvil operates in 18 countries, serving over 400 million users [1]

Subscriber Growth - América Móvil added over 3 million postpaid clients in Q3 2025, with Brazil contributing 1.5 million, followed by Colombia (251 thousand), Peru (198 thousand), and Mexico (98 thousand) [3] - The company added 235 thousand wireless subscribers in Q3 2025, including 98 thousand postpaid clients, bringing the total wireless subscriber base to 84.3 million [41] - In Brazil, the company gained 849 thousand new wireless subscribers, including 1.5 million postpaid clients, resulting in a total of over 89 million wireless subscribers [52] - The company added 488 thousand mobile subscribers in Colombia, including 251 thousand postpaid subscribers, marking seven consecutive quarters of growth in this segment [63] - Wireless subscribers in Ecuador reached 9.7 million, with a net disconnection of 320 thousand in the prepaid segment during Q3 2025 [89] - In Argentina, wireless subscribers increased by 394 thousand, reaching a total of 27.1 million, a 5.7% year-over-year growth [97] - Wireless subscribers in Chile, Paraguay, and Uruguay decreased by 4.1% year-over-year to 8,771 thousand, with postpaid subscribers increasing by 8.7% to 5,002 thousand, while prepaid subscribers fell by 17.0% to 3,769 thousand [113] - The company added 49 thousand wireless subscribers in the Dominican Republic, bringing the total to 8 million in the Caribbean [115] Financial Performance - Total revenues for Q3 2025 reached 232.9 billion Mexican pesos, up 4.2% in Mexican peso terms and 6.2% at constant exchange rates, with service revenue also expanding at a 6.2% pace [3] - EBITDA for Q3 2025 totaled 93.8 billion Mexican pesos, up 4.9% in nominal terms and 6.8% at constant exchange rates, with an EBITDA margin of 40.3% [3] - Net income for Q3 2025 was 22.7 billion Mexican pesos, reflecting a significant reduction in comprehensive financing costs compared to the previous year [3] - Free cash flow for the nine months ending September 2025 allowed América Móvil to cover 28.6 billion pesos in shareholder distributions, including 10.8 billion pesos in share buybacks [3] - Operating profit increased by 5.6% to 50.1 billion Mexican pesos, with comprehensive financing costs reduced by approximately 50% year-on-year [26] - Free cash flow for the first nine months of 2025 was 52.99 billion pesos, a significant increase of 47.0% compared to the same period in 2024 [38] - Total revenue for Q3 2025 reached 85.5 billion Mexican pesos, a 2.0% increase year-on-year [42] - Mobile service revenue grew by 4.9% year-on-year, marking its best performance since Q1 2024 [42] Revenue Growth by Region - Total revenue in Brazil for Q3 2025 reached 13,011 million BrL, a 5.4% increase year-over-year, with service revenue growing by 5.1% to 12,312 million BrL [61] - In Colombia, total revenue for Q3 2025 was 4,135 billion COP, reflecting a 5.9% year-over-year growth, with mobile service revenue increasing by 7.8% [66] - Central America reported a total revenue increase of 10.8% year-over-year to 741 million USD, with mobile service revenue rising by 12.8% [72] - In Peru, total revenue for Q3 2025 was 1,743 million soles, a 3.1% increase year-over-year, with mobile service revenue growing by 4.9% [84] - Total revenue in Ecuador increased by 1.6% year-over-year to $257 million, while service revenue also rose by 1.6% [90] - In the Chile, Paraguay, and Uruguay region, total revenue grew by 9.0% year-over-year to 334.8 billion Chilean pesos [109] - Total revenue in the Caribbean decreased by 1.2% year-over-year to 475 million dollars, with total service revenue also down by 1.2% to 420 million dollars [118] - In Puerto Rico, service revenue increased by 1.4% year-over-year, reversing a negative trend, with fixed-line service revenue rising by 4.1% driven by strong growth in PayTV and broadband revenue [117] Debt and Cash Flow - The net debt at the end of September 2025 stood at 454 billion pesos, equivalent to 1.55 times Net Debt/LTM EBITDAaL [3] - Total debt as of September 2025 was 550,176 million Mexican pesos, down from 568,482 million in December 2024, reflecting a decrease of 3.2% [138] - Net debt as of September 2025 was 453,588 million Mexican pesos, a reduction from 485,146 million in December 2024, showing a decrease of 6.5% [138] - Net cash flows from operating activities for Jan-Sep 2025 were 186,665 million Mexican pesos, up from 158,072 million in Jan-Sep 2024, representing a 18.1% increase [136] Capital Expenditures and Investments - The company continues to focus on capital expenditures related to the expansion of telecommunications infrastructure, with capital expenditures of 84,870 million Mexican pesos for Jan-Sep 2025 [136] - América Móvil returned to the euro market with a 650 million euro bond at a 3% coupon, aimed at paying short-term debt [9] - The company was granted 100 MHz of spectrum in the 3.5 GHz band in Peru, which will support the expansion of its 5G network [83] - The company launched 5G services in Costa Rica, enhancing connectivity and customer experience across the region [74] Market Performance and Metrics - Average Revenue Per User (ARPU) increased by 16.5% year-over-year to $4.97, while churn rate rose to 7.2% from 5.0% [113] - The churn rate in Ecuador improved to 3.7%, down from 4.1% in the previous year [87] - The average exchange rate for the Euro decreased by 6.0% from 0.9096 in 3Q24 to 0.8555 in 3Q25 [134] - The average exchange rate for the Mexican Peso decreased by 1.5% from 18.9243 in 3Q24 to 18.6398 in 3Q25 [134] - The Argentinean Peso saw a significant increase of 42.2% in the end of period exchange rate from 970.5 in 3Q24 to 1,380.0 in 3Q25 [134]

Core Insights - America Movil (AMX) is a leading telecommunications company in Mexico, providing a variety of services including wireless, fixed-line, and broadband, primarily in Latin America [1] - Scotiabank has set a new price target of $19.50 for AMX, indicating a potential downside of approximately -12.26% from its current trading price of $22.23 [2][6] - AMX reported a significant increase in net income per ADR to 40 cents, surpassing the Zacks Consensus Estimate of 36 cents, with total revenues rising by 4.2% to Mex$232.9 billion [3][6] - The company experienced subscriber growth in regions such as Colombia, Argentina, and Central America, and its comprehensive financing cost decreased by 54.5% to Mex$12.9 billion [4] - Over the past year, AMX shares have surged by 30.5%, outperforming the Zacks Wireless Non-US industry growth of 22.8%, with a current market cap of approximately $67.57 billion [5][6]

Core Points - The article discusses the importance of enabling Javascript and cookies in browsers to avoid access issues [1] - It highlights that ad-blockers may prevent users from proceeding to the desired content [1] Summary by Categories Technical Requirements - Users are advised to enable Javascript and cookies in their browsers to ensure proper functionality [1] - The presence of ad-blockers can lead to restrictions in accessing content [1]

Financial Data and Key Metrics Changes - In the third quarter, total revenue reached 233 billion pesos, reflecting a year-over-year increase of 4.2% in Mexican peso terms and 6.2% at constant exchange rates [6][9] - EBITDA totaled 94 billion pesos, up 4.9% in nominal terms and 6.8% at constant exchange rates compared to the previous year [8][9] - Net income surged to 23 billion pesos, equivalent to $0.38 per share or $0.40 per ADR, with free cash flow increasing by 47% year-on-year to 53 billion pesos [9][10] Business Line Data and Key Metrics Changes - The postpaid client base increased by 8.1% year-over-year, with 3 million new postpaid clients added in the quarter [5][6] - Fixed broadband accesses grew by 5.1%, with 536,000 new broadband accesses added, including 211,000 in Mexico [5][6] - Mobile service revenue grew by 7.1%, the highest rate in two years, driven by a recovery in prepaid revenue, which expanded by 3.9% [6][7] Market Data and Key Metrics Changes - The U.S. dollar depreciated against several currencies in the region, declining 2.7% against the Mexican peso and 4.1% against the Colombian peso [4] - In Brazil, prepaid ARPU grew by 7.3%, indicating increased consumption and usage of services [27] Company Strategy and Development Direction - The company is evaluating potential acquisitions, including a joint bid with Entel for Telefónica assets in Chile, and is open to opportunities in Brazil [20][21] - Investments in network modernization and expansion, particularly in 5G technology, are ongoing to enhance competitiveness in various markets [38] Management's Comments on Operating Environment and Future Outlook - Management noted that the recovery in mobile prepaid revenues in Mexico is closely tied to economic conditions, with expectations for continued improvement [14] - In Colombia, the company is experiencing growth in service revenue and is optimistic about future performance despite competitive pressures [34] Other Important Information - The company returned to a trend where EBITDA growth outpaced revenue growth, which is expected to continue [8] - Capital expenditures totaled 85 billion pesos, with a focus on enhancing network capabilities and expanding service offerings [9] Q&A Session Summary Question: Mobile prepaid revenues in Mexico - Management indicated that the recovery in prepaid revenues is linked to economic improvement and expects this trend to continue into the fourth quarter [14] Question: Margin expansion in Chile, Uruguay, and Paraguay - Management clarified that margin expansion is due to operational improvements and synergies, with no significant one-off effects [15] Question: Potential acquisitions in Chile and Brazil - Management confirmed they are evaluating a joint bid for Telefónica assets in Chile and assessing opportunities in Brazil, with no binding commitments yet [20][21] Question: Competitive environment in Mexico - Management acknowledged strong competition but emphasized their superior network quality and customer service as key differentiators [25] Question: Performance drivers in Brazil's prepaid segment - Management noted significant investments in network coverage and 5G technology, contributing to growth in the prepaid segment despite some disconnections [27]