FEMSA Announces First Quarter 2026 Results
Rhea-AI Summary
FEMSA (NYSE: FMX) reported 1Q26 results on April 30, 2026: Consolidated revenues +6.1% and income from operations +5.5% versus 1Q25. OXXO Mexico revenues +8.3% and income from operations +20.9%. Americas & Mobility revenues +12.9% and income from operations +34.0%. Spin active users 11.0 million (+22.3%) and Spin Premia 28.4 million (+12.8%); average tender at OXXO Mexico 50.6% (from 42.5%). Coca‑Cola FEMSA revenues +1.1% and income from operations −2.3%. Conference call: April 30, 2026, 11:00 AM ET.
Positive
- OXXO Mexico income from operations +20.9% versus 1Q25
- Americas & Mobility income from operations +34.0% versus 1Q25
- Americas & Mobility total revenues +12.9% versus 1Q25
- Spin active users 11.0 million (+22.3% versus 1Q25)
- Spin Premia loyalty users 28.4 million (+12.8% versus 1Q25)
Negative
- Health gross profit −10.0% versus 1Q25
- Health income from operations −14.2% versus 1Q25
News Market Reaction – FMX
On the day this news was published, FMX gained 5.56%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
FMX was down 1.47% pre-release, while major peers like ABEV (-1.04%), STZ (-2.02%), BUD (-0.87%) and CCEP (-2.65%) were also lower, pointing to broader Consumer Defensive softness; only TAP was slightly positive.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 25 | Quarterly earnings | Positive | +0.8% | 4Q25 revenues and operating income grew, with strong Coca-Cola FEMSA results. |
| Oct 28 | Quarterly earnings | Positive | -0.6% | 3Q25 revenue and income growth plus digital expansion met by a small share decline. |
| Jul 28 | Quarterly earnings | Negative | -6.7% | Mixed 2Q25 with pressured operating income in key units and challenges in Mexico. |
| Apr 28 | Quarterly earnings | Positive | -0.1% | Q1 2025 revenue and income growth but uneven divisional performance across segments. |
| Feb 27 | Quarterly & annual earnings | Positive | +5.2% | Strong Q4 and 2024 results with broad margin expansion and higher capital returns. |
Earnings releases have produced relatively small average moves of -0.28%, with a mix of positive and negative reactions despite generally growing revenues.
Over the past five earnings cycles, FEMSA has consistently reported year-over-year revenue growth, though operating income trends have been more variable across divisions. Digital initiatives like Spin by OXXO and Spin Premia showed steady user expansion, while Coca-Cola FEMSA generally contributed mid-single to low-double-digit growth. Market reactions were modest, with both gains and declines around earnings. Against this backdrop, Q1 2026’s consolidated revenue growth of 6.1% and income from operations up 5.5% fit an ongoing pattern of steady but uneven performance by segment.
Historical Comparison
Past earnings releases averaged a modest move of -0.28%, even when fundamentals were strong. Q1 2026’s solid but mixed-by-division results fit this pattern of generally muted share reactions.
Earnings updates from late 2024 through 4Q25 showed steady revenue growth, expanding digital user bases, and varying divisional strength. Q1 2026 maintains this trajectory, with OXXO Mexico and Americas & Mobility driving growth while some segments, like Health, lag.
Market Pulse Summary
The stock moved +5.6% in the session following this news. A strong positive reaction would align with FEMSA’s solid Q1 2026 metrics, including consolidated revenues up 6.1% and income from operations up 5.5%, helped by OXXO Mexico and Americas & Mobility. Historically, earnings moves averaged only -0.28%, so a large upside move would stand out versus prior quarters. Investors could still weigh weaker Health segment trends and underlying net income down 36.4% excluding one-time gains when assessing durability.
AI-generated analysis. Not financial advice.
MONTERREY, Mexico, April 30, 2026 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced today its operational and financial results for the first quarter of 2026.
Reporting Segments Update: In our continuous effort to improve our disclosure, we have updated FEMSA’s reporting segment structure to better reflect the scale, stage of development, and strategic differentiation of our various operations. This updated structure should provide investors with greater visibility into the drivers of performance across our operations. Our updated reporting segments are as follows: i) OXXO Mexico; ii) Americas & Mobility which now includes all OXXO operations outside of Mexico (Brazil, Colombia, Chile, Peru and the U.S.), as well as the fuel operations in Mexico and the U.S; iii) Europe; iv) Health; and v) Coca-Cola FEMSA. Only segments i) and ii) changed relative to our previous reporting structure.
- FEMSA: Total Consolidated Revenues grew
6.1% and Income from Operations increased5.5% compared to 1Q25. - OXXO Mexico: OXXO Mexico total Revenues grew
8.3% and Income from operations increased20.9% versus 1Q25. - SPIN: Spin by OXXO had 11.0 million active usersA representing
22.3% growth compared to 1Q25 while Spin Premia had 28.4 million active loyalty users2 representing12.8% growth compared to 1Q25, and an average tenderB at OXXO Mexico of 50.6% which increased from42.5% in 1Q25. - COCA-COLA FEMSA: Total Revenues grew
1.1% and Income from Operations decreased2.3% against 1Q25.
Financial Summary for the First Quarter 2026
Change vs. comparable period
| Total Revenues | Gross Profit | Income from Operations | Same-Store Sales | |
| As Reported | 1Q26 | 1Q26 | 1Q26 | 1Q26 |
| FEMSA Consolidated | ||||
| OXXO Mexico | ||||
| Americas & Mobility | 4.7 %C | |||
| Europe | ( | ( | ||
| Health | ( | ( | ||
| Coca-Cola FEMSA | ( | |||
| Comparable(A) | ||||
| FEMSA Consolidated | ||||
| OXXO Mexico | ||||
| Americas & Mobility | 13.1 %3 | |||
| Europe | ( | |||
| Health | ( | ( | ||
| Coca-Cola FEMSA | ||||
Jose Antonio Fernández Garza-Lagüera, FEMSA’s Chief Executive Officer, commented:
“FEMSA delivered a strong set of results for the first quarter. OXXO improved its operating income by double-digits in its key markets, handily outpacing revenues and expanding margins, while Coca-Cola FEMSA demonstrated its resilience and flexibility in the face of a challenging consumer environment in the core Mexican market, partially offset by a strong performance in South America.
We should highlight the sustained recovery at OXXO Mexico, building on the positive trends we first saw during the fourth quarter of last year, and delivering high-single-digit revenue growth on the back of continued expansion and strong same-store sales despite a volatile environment. During the quarter, we also began to see the benefits from a leaner overhead structure and increased efficiency. Beyond Mexico, our Americas and Mobility operations delivered a compelling set of numbers, particularly Chile, Peru and Colombia showing double-digit growth in same-store sales and a significant narrowing of losses as we steadily improve our footprint.
For its part, Coca-Cola FEMSA gained market share in most of its markets and categories and achieved record volumes for a first quarter in several markets, including Brazil, Colombia and Guatemala.
As we look ahead towards what we expect should be a strong summer season due in part to the World Cup, we continue to like our current momentum across most of our business units, and we are optimistic as we execute against our long-term strategy in pursuit of sustainable profitable growth and despite the complex international macro environment.”
| CONFERENCE CALL INFORMATION |
| Our first quarter 2026 Conference Call will be held on: Thursday, April 30, 2026, 11:00 AM Eastern Time (9:00 AM Mexico City Time). The conference call will be live through our Zoom link. For registration, please visit: |
Registration: https://bit.ly/FEMSA__1Q26 |
| If you are unable to participate live, the conference call audio will be available on https://femsa.gcs-web.com/financial-reports/quarterly-results |
ABOUT FEMSA
FEMSA is a company that creates economic and social value through companies and institutions and strives to be the best employer and neighbor to the communities in which it operates. It participates in two core sectors, retail and beverages. In retail, FEMSA is present through four divisions: i) OXXO Mexico, operating the largest small-format store chain in Mexico; ii) Americas & Mobility, which includes its OXXO convenience store operations across Latin America and the United States, as well as its gas station business in Mexico and the United States; iii) Europe, operating convenience and foodvenience formats in five European countries; and iv) FEMSA Health, which includes drugstores and related activities in four Latin American countries. In Mexico, OXXO’s operations are enhanced by, and comprise a customer-focused ecosystem with Spin, a digital platform that leverages the OXXO store network to provide Mexican consumers with access to digital financial services, including Spin by OXXO and Spin Premia, among other initiatives. In the beverage sector, FEMSA participates through Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola products in the world by volume. Across its business units, FEMSA has more than 369,000 employees in 18 countries. FEMSA is a member of the Dow Jones Best-in-Class World Index & Dow Jones Best-in-Class MILA Pacific Alliance Index, both from S&P Global; FTSE4Good Emerging Index; MSCI EM Latin America ESG Leaders Index; S&P/BMV Total México ESG, among other indexes.
___________________________
(1) Please refer to page 11 for our definition of “comparable” and a description of the factors affecting the comparability of our financial and operating performance.
A Active User for Spin by OXXO: Any user with a balance or that has transacted within the last 56 days.
Active User for Spin Premia: User that has transacted at least once with OXXO Premia within the last 90 days.
B Tender: OXXO MXN sales with Spin Premia redemption or accrual / Total OXXO MXN Sales, during the period.
C Only includes retail. Same-store Sales includes a weighted average of OXXO Americas (USA, Brazil and Latam).
Investor Contact (52) 818-328-6000 investor@femsa.com.mx femsa.gcs-web.com Media Contact (52) 555-249-6843 comunicacion@femsa.com.mx femsa.com