FEMSA Announces Third Quarter 2025 Results

Rhea-AI Summary

FEMSA (NYSE:FMX) reported 3Q25 results on October 28, 2025: Total consolidated revenues +9.1% and income from operations +4.3% versus 3Q24. Key unit highlights: Proximity Americas revenues +9.2% and income from operations +7.1%; Proximity Europe income from operations +29.1%. Digital and loyalty growth: Spin by OXXO active users 9.9M (+20.5%), Spin Premia 27.7M (+16.4%), and OXXO Mexico average tender of 48.2% (up from 38.5%). Coca-Cola FEMSA reported revenues +3.3% and income from operations +6.8% versus 3Q24.

Management noted sequential improvement in Mexico, geographic diversification aiding results, CEO transition context, and a conference call held Oct 28, 2025.

Positive

• Total consolidated revenues +9.1% vs 3Q24
• Proximity Americas revenues +9.2% vs 3Q24
• Proximity Europe income from operations +29.1% vs 3Q24
• Spin by OXXO active users 9.9M (+20.5%)
• Spin Premia users 27.7M (+16.4%)
• OXXO Mexico average tender 48.2% (up from 38.5%)

Negative

• None.

Insights

Strategic Retail & Beverage Analyst

FEMSA shows modest operational improvement in 3Q25 with revenue and operating income growth but mixed unit-level trends and leadership change.

FEMSA’s consolidated metrics show a clear top-line expansion with 9.1% total revenue growth and a smaller 4.3% rise in income from operations for 3Q25, driven by stronger performance in Proximity Americas (9.2% revenues, 7.1% operating income) and supportive results from Coca‑Cola FEMSA (revenues +3.3%, operating income +6.8%). The reported growth rates and the Spin user metrics (Spin by OXXO active users +20.5%; Spin Premia active loyalty users +16.4%) indicate strengthening engagement and cross‑sell potential within the retail ecosystem.

Risks and dependencies are explicit in the release: management notes a still challenging Mexican consumption environment and that improved results reflect tactical initiatives and geographic diversification, especially South America and Europe. Some segments show mixed year‑to‑date comparisons and comparable growth that softens the headline (e.g., comparable consolidated revenue growth lower than as‑reported). The CEO transition announced alongside the results adds an execution risk because leadership changes can affect strategic continuity during a period of operational re‑acceleration.

Items to watch over the near term include fourth quarter operating trends referenced for Q4 2025, same‑store sales paths for Proximity Americas and Fuel shown in the table, and whether Spin’s higher tender and active‑user growth translate into sustained margin benefits for OXXO Mexico. Monitor quarterly comparable metrics and management commentary on the incoming CEO and on the sustainability of the tactical initiatives into 2026.

MONTERREY, Mexico, Oct. 28, 2025 (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 third quarter of 2025.

• FEMSA: Total Consolidated Revenues grew 9.1% and Income from Operations increased 4.3% compared to 3Q24.
• FEMSA Retail¹: Proximity Americas total Revenues grew 9.2% and Income from operations increased 7.1% versus 3Q24.
• SPIN: Spin by OXXO had 9.9 million active users² representing 20.5% growth compared to 3Q24 while Spin Premia had 27.7 million active loyalty users² representing 16.4% growth compared to 3Q24, and an average tender³ at OXXO Mexico of 48.2% which increased from 38.5% tender in 3Q24.
• COCA-COLA FEMSA: Total Revenues and Income from Operations grew 3.3% and 6.8%, respectively against 3Q24.

Financial Summary for the Third Quarter 2025 Change vs. comparable period
	Total Revenues		Gross Profit		Income from Operations		Same-Store Sales
As Reported	3Q25	YTD25	3Q25	YTD25	3Q25	YTD25	3Q25		YTD25
FEMSA Consolidated	9.1%	8.4%	8.0%	8.6%	4.3%	3.0%
Proximity Americas	9.2%	7.7%	11.0%	9.3%	7.1%	(1.6%)	1.7%		(0.1%)
Proximity Europe	10.1%	19.3%	10.1%	16.6%	29.1%	25.0%	N.A.		N.A.
Health	2.9%	12.7%	2.8%	12.7%	(4.0%)	7.6%	0.8%		9.5%
Fuel	5.0%	2.5%	0.1%	3.6%	(0.8%)	0.8%	8.3%		6.3%
Coca-Cola FEMSA	3.3%	5.0%	0.9%	4.3%	6.8%	4.3%
Comparable(A)
FEMSA Consolidated	4.9%	3.6%	7.7%	5.4%	6.5%	(0.2%)
Proximity Americas	4.8%	2.8%	8.8%	6.8%	6.6%	(6.6%)	1.8%		N.A.
Proximity Europe	3.3%	3.4%	3.4%	1.0%	20.7%	8.0%	N.A.		N.A.
Health	4.5%	6.1%	5.0%	6.0%	(1.3%)	1.0%	4.1%		N.A.
Fuel	5.0%	2.5%	0.1%	3.6%	(0.8%)	0.8%	8.3%		6.3%
Coca-Cola FEMSA	5.1%	4.9%	2.4%	4.7%	6.2%	2.8%

José Antonio Fernandez Carbajal, FEMSA’s Chief Executive Officer, commented:
        
“During the third quarter, our results showed a modest sequential improvement in Mexico, a welcome change of trend relative to the first half of the year despite still facing a challenging environment in our key market, including soft consumption dynamics.

We are particularly encouraged by the efficacy of the broad range of tactical initiatives our teams deployed in recent months, which contributed to the improved results at OXXO and Coca-Cola FEMSA. We are also encouraged by the resilience and strength of our geographically diversified platform, as other markets, particularly in South America, and Europe helped mitigate the softer trends in Mexico.

As we enter the final stretch of 2025, we are cautiously optimistic that our results will continue to improve across our business units in the fourth quarter, and we are also getting ready for what should be an exciting 2026, including a FIFA World Cup that will be partly played in Mexico for the third time, as well as the 100th anniversary of Coca-Cola in Mexico. Our teams are already hard at work getting ready for next year.

I have been nearly 40 years with FEMSA. Looking ahead, I am highly confident that our Company and our business units are as well positioned as ever for long-term growth and value creation. I want to take this opportunity, as I step back from the CEO role, to thank once again every one of my colleagues, undoubtedly the best team in the business, who have helped build our Company into the success it is today.”

To obtain the full text of this earnings release, please visit our Investor Relations website at https://femsa.gcs-web.com/ under the Financial Reports section

CONFERENCE CALL INFORMATION
Our Third quarter 2025 Conference Call will be held on: Tuesday, October 28, 2025, 10:30 AM Eastern Time (8:30 AM Mexico City Time). The conference call will be webcast live through streaming audio.
Telephone:	Toll Free US:   (866) 580 3963
	International:   +1 (786) 697 3501
Webcast:	https://edge.media-server.com/mmc/p/65yp7xh9/
Conference ID:	FEMSA
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 the retail industry through a Proximity Americas Division operating OXXO, a small-format store chain, and other related retail formats, and Proximity Europe which includes Valora, our European retail unit which operates convenience and foodvenience formats. In the retail industry it also participates through a Health Division, which includes drugstores and related activities and Spin, which includes Spin by OXXO and Spin Premia, among other digital financial services initiatives. In the beverage industry, it 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 392,000 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.

^{__________________________________
(A)} Please refer to page 13 for our definition of “comparable” and a description of the factors affecting the comparability of our financial and operating performance.
¹ FEMSA Retail: Proximity Americas & Europe, Fuel and FEMSA Health.
² 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.
³ Tender: OXXO MXN sales with Spin Premia redemption or accrual / Total OXXO MXN Sales, during the period.

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

FAQ

What were FEMSA (FMX) consolidated revenue and operating income changes in 3Q25?

FEMSA reported total consolidated revenues +9.1% and income from operations +4.3% versus 3Q24.

How did Proximity Americas perform in FEMSA's 3Q25 results (FMX)?

Proximity Americas reported revenues +9.2% and income from operations +7.1% versus 3Q24.

What growth did Spin by OXXO and Spin Premia report in 3Q25 for FMX?

Spin by OXXO had 9.9 million active users (+20.5%); Spin Premia had 27.7 million active users (+16.4%) versus 3Q24.

What were Coca-Cola FEMSA results in FEMSA's 3Q25 release (FMX)?

Coca-Cola FEMSA reported total revenues +3.3% and income from operations +6.8% versus 3Q24.

When and how did FEMSA host its 3Q25 earnings call for FMX?

The conference call was held on October 28, 2025 at 10:30 AM ET and was webcast live via the company's investor site.