Welcome to our dedicated page for Fomento Mexicano news (Ticker: FMX), a resource for investors and traders seeking the latest updates and insights on Fomento Mexicano stock.
Fomento Económico Mexicano (FEMSA) (NYSE: FMX) is a leading multinational corporation with core operations in beverage bottling and retail convenience stores. This page provides investors and stakeholders with centralized access to official press releases, financial disclosures, and strategic updates from one of Latin America's most diversified consumer companies.
Track FEMSA's latest developments across its global Coca-Cola bottling network, OXXO convenience store expansions, digital finance initiatives, and health retail ventures. Our curated news feed delivers timely updates on earnings reports, partnership announcements, operational milestones, and leadership changes.
Key coverage areas include quarterly financial results, supply chain innovations, market expansion strategies, and sustainability initiatives. All content is sourced directly from company filings and verified news outlets to ensure accuracy and compliance with financial reporting standards.
Bookmark this page for continuous access to FEMSA's evolving business narrative. Monitor critical updates through our organized news timeline, designed to help investors make data-driven decisions about this NYSE-listed industry leader.
Fomento Económico Mexicano (FMX) announced its subsidiary, Envoy Solutions, will acquire Next-Gen Supply Group, expanding its distribution network into Massachusetts and Connecticut. This strategic acquisition is part of FEMSA's plan to create a leading national distribution platform in the U.S. Next-Gen reported revenues exceeding US$ 90 million in the past twelve months. The deal is expected to finalize in Q4 2021, pending customary conditions.
Fomento Económico Mexicano (NYSE: FMX) reported its financial results for Q3 2021, revealing revenues of 142,443 million Ps, up 12.6% from Q3 2020, and 9.2% versus Q3 2019. Gross profit reached 53,094 million Ps, a 9.4% increase year-over-year. The Health Division excelled in Chile while the Fuel Division benefited from improved vehicle mobility in Mexico. However, demand remains below pre-pandemic levels. CEO Eduardo Padilla expressed optimism about FEMSA's future and emphasized the company's solid position across its business units.
FEMSA announces a leadership change as Daniel Rodríguez Cofré is appointed CEO, succeeding Eduardo Padilla, effective January 1, 2022. Padilla, with a 25-year tenure at FEMSA, enhanced the company's retail operations, particularly OXXO. Rodríguez, previously CEO of FEMSA Comercio, has a strong background in finance and leadership, driving growth and digital transformation in the retail sector. This transition is part of FEMSA's long-term succession planning, aiming for continued economic and social value creation.
Fomento Económico Mexicano (FMX) is set to hold its Third Quarter 2021 Conference Call on October 29, 2021, at 10:00 AM Eastern Time. The results will be released on October 28 after market close. Key executives, including Chief Corporate Officer Francisco Camacho and Director of Finance Eugenio Garza y Garza, will host the call. Participants can access the call via toll-free US number (800) 263 0877 or international line +1 (646) 828 8143, using Conference ID 1173151. The call will also be streamed live online.
Fomento Económico Mexicano (FMX) announced the acquisition of Penn Jersey Paper Co. (PJP) by its subsidiary, Envoy Solutions. This move enhances FEMSA's distribution network, extending coverage to the Philadelphia metro area and New York City. PJP generated over $200 million in revenue over the past year, aligning with FEMSA's strategy to establish a leading national distribution platform in the U.S. The transaction, pending customary approvals, is expected to close in Q3 2021.
Fomento Económico Mexicano (FMX) announced the acquisition of Daycon Products Co., a specialized distribution company based in Maryland. This strategic move, expected to close in Q3 2021, will expand FEMSA's distribution footprint along the U.S. East Coast, enhancing its national distribution platform. Daycon generated approximately $75 million in revenue over the past year, contributing significantly to FEMSA's growth strategy.
Fomento Económico Mexicano (FMX) reported significant financial results for Q2 2021, driven by a recovery from COVID-19 impacts. Revenues reached 137,058 million Ps, marking a 1968.7% increase compared to Q2 2020 and a 689.9% rise from Q2 2019. Gross profit surged to 53,858 million Ps, a 2368.6% increase from last year. The Health Division performed strongly, and Coca-Cola FEMSA delivered solid results. CEO Eduardo Padilla emphasized ongoing operational improvements and optimism for the future despite uncertainties.
Fomento Económico Mexicano (FMX) has announced its upcoming Second Quarter 2021 Conference Call set for July 28, 2021, at 10:00 AM ET. The results will be released before markets open on the same day. Key speakers include Francisco Camacho, Eugenio Garza y Garza, and Juan Fonseca. The call will be accessible via toll-free US and international numbers, and will also be webcast live. FEMSA operates in retail, beverage, and logistics, employing over 320,000 people across 13 countries.
Fomento Económico Mexicano (FMX) reported its Q1 2021 results, showing a 1.8% increase in consolidated revenues to 124,474 million Ps and a 1.5% rise in gross profit, totaling 46,534 million Ps. However, the Proximity Division witnessed a 4.8% revenue decline. Notably, the newly reported Logistics and Distribution segment contributed 10,809 million Ps in revenue. CEO Eduardo Padilla highlighted ongoing challenges due to the health crisis but noted a trend of improvement and commitment to long-term sustainability goals.
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