Betterware de México, S.A.P.I. de C.V. (NASDAQ:BWMX) Q1 2023 Earnings Conference Call April 28, 2023 9:00 AM ET

Company Participants

Luis Campos - Executive Chairman

Andres Campos - Chief Executive Officer

Alejandro Ulloa - Corporate Chief Financial Officer

Conference Call Participants

Eric Beder - SCC

Christina Fernandez - Telsey Advisory Group

Andres Lomeli - LCA Capital

Operator

Thank you, and welcome to Betterware's First Quarter Fiscal Year 2023 Earnings Conference Call. With me on the call today are Betterware's Executive Chairman, Luis Campos; Betterware's Chief Executive Officer, Andres Campos; and Corporate Chief Financial Officer, Alejandro Ulloa.

Before we get started, I would like to remind you that this call will include forward-looking statements, which are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Any such statement should be considered in conjunction with the cautionary statements and the safe harbor statement in the earnings release and risk factors discussed in reports filed with the SEC.

Betterware assumes no obligation to update any of these forward-looking statements or information. A reconciliation and other information regarding non-GAAP financial measures discussed on the call can be found in the earnings release issued yesterday as well as the Investors section of the company's website.

And now I would like to turn the call over to the company's Executive Chairman, Luis Campos. Thank you sir, you may begin.

Luis Campos

Thank you operator. Good morning everyone and thank you for joining us today. I would like to begin my remarks by providing an update on our first quarter results for our consolidated operations. Then I will disclose additional details on JAFRA, both in Mexico and in the U.S. the progress we have made so far in terms of reaction [Ph], igniting its growth and increasing its profitability, and the plans we have for the rest of the year and going forward.

Following this, Andres would discuss better or worse operating results for the quarter and provide an update on the key strategies we have for 2023 and our expectations for the remaining quarters of the year. And finally, Alejandro, our Corporate CFO will discuss our quarterly consolidated financial results, our expectations for the full year, our capital allocation strategy, and our expected dividend payments going forward. With their creative acquisition of JAFRA last year, we are now a more resilient company as we possess a diversified product portfolio with complementary well positioned product lines participating in attractive markets, both in Mexico and in the U.S. We are proud of the progress obtained since the acquisition was completed, and specifically during first quarter 2023 which allows us to reaffirm our belief that our company is in an enviable position to capture growth and add value to our stakeholders.