FEMSA 3Q26: Revenue +9.8%, Operating Income +9.9%, Net Income +81%
FMX sits 37% above its 52-week low of $90.87.
Summary
FEMSA grew 3Q26 revenue 9.8% and operating income 9.9%, led by OXXO Mexico and Coca-Cola FEMSA, while Americas & Mobility and Health profits collapsed. Net income rose 81% off a depressed base, and net leverage climbed to 1.19x from 0.91x.
Key Events · Earnings and Guidance · FMX
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3Q26 Revenue and Operating Income Grow ~10%
Total revenues rose 9.8% to Ps. 235,609 million and income from operations 9.9% to Ps. 19,918 million; operating margin expanded 10 bps to 8.5%.
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Net Income +81% on Easy Comparison
Consolidated net income reached Ps. 10,569 million versus Ps. 5,838 million, helped by the absence of a Ps. 3,146 million Solistica loss in 3Q25 and a Ps. 2,382 million favorable FX swing.
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OXXO Mexico Same-Store Sales Accelerate
Same-store sales rose 9.2% on a 5.5% higher ticket and 3.5% more traffic; the chain added 51 net stores in the quarter for 24,759 total.
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Americas & Mobility and Health Profit Collapse
Americas & Mobility operating income fell 75.9% to Ps. 170 million on OXXO Brazil losses and fuel margin pressure; Health fell 63.2% to Ps. 319 million including a Ps. 430 million non-cash credit-risk provision.
Analysis · FMX · Manufacturing
Two of FEMSA's largest businesses carried the quarter. OXXO Mexico same-store sales accelerated to +9.2%, with traffic up 3.5% — its strongest in more than two years — and Coca-Cola FEMSA grew operating income 15.4%. Consolidated revenue rose 9.8% to Ps. 235,609 million and operating income 9.9% to Ps. 19,918 million, lifting the operating margin 10 basis points to 8.5%. The headline 81% jump in net income to Ps. 10,569 million is flattered by a low base — 3Q25 carried a Ps. 3,146 million loss from the Solistica divestiture — plus a Ps. 2,382 million favorable swing in non-cash FX. The offsetting story sits in the smaller units: Americas & Mobility operating income fell 75.9% on OXXO Brazil losses and Mexican fuel margin pressure, Health fell 63.2% on a Ps. 430 million non-cash credit-risk provision tied to unwinding Colombia's institutional business, and Europe fell 24.8%. Leverage is the number to note: net debt ex-KOF of Ps. 95,203 million puts ND/Adjusted LTM EBITDA at 1.19x versus 0.91x a year ago, driven by the capital-return program rather than operations.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 30.5% of the 1494 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.03%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, FMX was trading at $124.30 on NYSE in the Manufacturing sector, with a market capitalization of approximately $25B. The 52-week trading range was $90.87 to $141.47. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.