Mexico · Delayed Price · Currency is MXN Fomento Económico Mexicano Earnings Call Transcripts
Fiscal Year 2026
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Strong revenue and operating income growth were driven by OXXO Mexico and international segments, with notable gross margin expansion and robust digital platform momentum. Cautious outlook for H2 due to macro uncertainty, but capital returns and store expansion remain priorities.
Fiscal Year 2025
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Q4 2025 delivered strong revenue and net income growth, driven by operational improvements, disciplined capital allocation, and successful restructuring. Expansion in Mexico, Brazil, and Bara remains a priority, with digital integration and efficiency gains expected to further boost profitability.
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Revenue grew 9.1% year-over-year, driven by international operations and OXXO USA, while net income declined due to FX losses. Retail operations showed recovery, with OXXO Mexico returning to positive same-store sales and ongoing expansion. Leadership transition and continued capital returns highlight strategic continuity.
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Revenue grew 6.3% year-over-year, driven by international operations and OXXO U.S.A., but net income fell 64.3% due to FX losses and lower interest income. Proximity Americas and Health faced challenges in Mexico, while digital initiatives like Spin showed strong user growth and improved efficiency.
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Challenging macro and consumer environment in Mexico led to traffic declines and margin pressure, but revenue and net income grew year-over-year, supported by strong performance in other markets and expansion of digital and value initiatives. Sequential improvement is expected from Q2, with high single-digit revenue growth targeted for the year.
Fiscal Year 2024
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Double-digit growth and margin expansion marked 2024, with strong results in Proximity Americas and Coca-Cola FEMSA. Major divestitures and robust capital returns are accelerating, while digital and international expansion continue. Macro headwinds and labor costs remain key risks.
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Third quarter delivered strong revenue and margin growth across most segments, with digital and loyalty platforms driving engagement. Ongoing portfolio optimization, targeted expansion in Mexico, Colombia, and Brazil, and disciplined capital allocation support long-term growth, despite weather and economic headwinds in some markets.
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Q2 saw double-digit revenue and operating income growth, robust capital returns, and strong performance from core business units, despite Health Division headwinds. OXXO's gross margin expanded significantly, driven by commercial income and financial services, while digital and store expansion initiatives advanced.