We aimed to isolate effects of undernutrition on the embryo or the mother and whether or not the endocrine signals differ from ewes that presented late embryo mortality. Forty-five donors and 52 recipient Rasa Aragonesa ewes were fed 1.5 (control group; donor n = 20; recipient n = 25) or 0.5 (low group; donor n = 25; recipient n = 27) times the daily requirements for maintenance. These regimens were maintained up to day of embryo collection and transfer. Embryos were collected 7 d after the onset of estrus, and 2 good quality embryos per ewe were transferred into recipient ewes. Blood samples were collected at days −14, −1, 7 and 18. Pregnancy and late embryonic mortality were analyzed using the GENMOD procedure, and hormone and metabolite concentrations using a MIXED model in SAS. Nutritional treatment of donor did not affect fertility. Pregnancy evaluated by ultrasound on d 40 did not differ between control and undernourished ewes (72% vs. 55%, P = 0.17). Embryonic mortality between d 18 and 40 tended to be greater in undernourished than in control recipient ewes (35% vs. 14%, P = 0.11). Undernourished ewes had reduced live weight and body condition score (P < 0.01), and increased concentration of nonesterified fatty acid (P < 0.05). Pregnancy rates at d 18 and 40 were similar between groups, but recipient undernourished ewes presented a greater late embryonic mortality (d 18 to 40) than control ewes (P = 0.11). Pregnant ewes had greater ovulation rate than nonpregnant ewes (P = 0.02). In recipient ewes, pregnant undernourished presented greater P4 concentrations than pregnant control (P < 0.05) and nonpregnant underfed ewes (P < 0.05). Recipient undernourished ewes that suffered late embryo mortality (d 18 to 40) presented or tended to present lower insulin and progesterone concentrations than low pregnant ewes (P = 0.05 and P = 0.07, respectively). In conclusion, the failure in reproductive performances in underfed ewes transferred good quality embryos is caused principally by maternal factors, so a suitable maternal environment is crucial to ensure a normal embryo growth. In addition, the endocrine profiles such as progesterone during early luteal phase and insulin are associated with pregnancy outcome.