Mexican retail and beverage group FEMSA posted higher third-quarter sales and operating income, with OXXO Mexico and Coca-Cola FEMSA offsetting sharp operating-income declines in three other segments.
Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA) reported revenue of 235.609 billion pesos and operating income of 19.918 billion pesos for July through September, up 9.8% and 9.9%, respectively, from a year earlier. Adjusted EBITDA rose 12.9% to 34.833 billion pesos. On a comparable basis, revenue grew 9.4% and operating income increased 13.4%, according to the company’s results filing.
OXXO Mexico’s revenue advanced 10.3%, while same-store sales increased 9.2%. Store traffic rose 3.5% and the average ticket grew 5.5%. FEMSA CEO Jose Antonio Fernández Garza-Lagüera said customer traffic delivered its “strongest performance in more than two years.”
The group’s bottling business, Coca-Cola FEMSA, reported 5.3% volume growth, a 10.9% revenue increase and a 15.4% rise in operating income.
Elsewhere, Americas & Mobility revenue grew 18.1%, but operating income dropped 75.9%. FEMSA said the decline mainly reflected the inclusion of OXXO Brazil’s losses in reported results and continued pressure on fuel margins in Mexico. Europe revenue fell 5.2% and operating income declined 24.8%. Health revenue increased 7%, while operating income slid 63.2%, with the company citing a noncash 430 million-peso credit-risk provision tied to the winding down of its institutional business in Colombia and lower operating income in Chile.
Consolidated net income rose 81% to 10.569 billion pesos from 5.838 billion pesos a year earlier. FEMSA attributed the increase to higher operating income, a noncash foreign-exchange gain of 1.121 billion pesos and the absence of a 3.146 billion-peso loss from discontinued operations in the year-earlier quarter.
For the first nine months of 2026, revenue increased 8.7% to 674.623 billion pesos and operating income grew 7.9% to 53.365 billion pesos. Fernández Garza-Lagüera cited subdued consumer conditions in Mexico, recent volatility in Brazil and more difficult year-over-year comparisons ahead. FEMSA’s results materials listed a third-quarter conference call for 11 a.m. ET on Oct. 28.
