Navigating the Shifting Landscape: América Móvil’s Q3 2024 Earnings Call
A New Era of Economic Uncertainty
The third quarter of 2024 brought significant changes to the global economic landscape. Interest rates in the US and other countries continued their downward spiral, with 10-year US Treasury yields plummeting 85 basis points between the start of the quarter and mid-September, reaching a low of 3.6%. This dramatic shift was fueled by concerns about the slowing US economy and its impact on the labor market.
A Response to Changing Market Conditions
In response to these developments, the Federal Reserve took decisive action, prompting a ripple effect across the globe. Against this backdrop, América Móvil’s leadership team gathered to discuss the company’s third quarter financial and operating results.
Leadership Insights
Daniel Hajj, CEO of América Móvil, welcomed participants to the call, introducing the company’s senior leadership team, including Carlos Garcia Moreno, CFO, and Oscar von Hauske, COO. Hajj set the stage for the discussion, highlighting the company’s resilience in the face of economic uncertainty.
Financial Highlights
Carlos Garcia Moreno, CFO, provided a comprehensive overview of the company’s financial performance, delving into the details of América Móvil’s third quarter results. His presentation offered a nuanced understanding of the company’s strengths and challenges, as well as its strategic responses to the shifting economic landscape.
Operational Updates
Oscar von Hauske, COO, shared insights into the company’s operational performance, providing an in-depth look at América Móvil’s key initiatives and milestones. His comments shed light on the company’s efforts to drive growth and innovation, even in the face of adversity.
Q&A Session
The call concluded with a question-and-answer session, during which analysts from leading financial institutions, including Goldman Sachs, JPMorgan, and Morgan Stanley, posed questions to the América Móvil leadership team. The discussion offered a unique glimpse into the company’s thinking and strategy, providing valuable insights for investors and stakeholders alike.
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