Q2 2026 Coca-Cola Femsa SAB de CV Earnings Call Transcript
Key Points
- Coca-Cola Femsa SAB de CV (KOF) achieved record second quarter volumes in Brazil, Colombia, and Guatemala, driving consolidated volume growth of 3.5%.
- Total revenues for the quarter grew 4.7% to MXN76.3 billion, with a currency-neutral revenue increase of 6.6%.
- Gross profit increased by 8.8% to MXN35.9 billion, with a margin expansion of 180 basis points to 47.1%, driven by favorable sweeteners and PET costs.
- Adjusted EBITDA grew 12.1% to MXN15 billion, with an EBITDA margin expansion of 130 basis points to 19.7%.
- The company successfully leveraged the FIFA World Cup as a brand-building platform, resulting in increased consumer engagement and incremental demand.
- Mexico faced headwinds from an excise tax increase and a softer consumer environment, impacting volume growth.
- Argentina experienced a volume contraction of 2.8% year over year, affected by a truck driver strike and continued softness in consumer demand.
- Operating income in Mexico and Central America declined 7% due to higher marketing and freight expenses, coupled with a lower operating foreign exchange gain.
- The competitive environment in Mexico remains intense, with significant pressure on pricing and consumer affordability.
- Higher aluminum costs partially offset the benefits of favorable sweeteners and PET costs, impacting overall cost management.
(Operator Instructions)
I would now like to hand the call over to Pamela Ortiz, Investor Relations Director at Coca-Cola FEMSA. Pamela, please go ahead.
Good morning, everyone, and welcome to Coca-Cola Femsa's second quarter 2026 results conference call. Today, we are joined by Ian Craig, our CEO; Gerardo Cruz, our CFO; and the rest of the Investor Relations team. Before we begin, let me remind all participants that today's conference call may include forward-looking statements that should be considered as good faith estimates made by the company.
These forward-looking statements reflect management expectations and are based upon currently available data. The actual results are subject to future events and uncertainties that can materially impact the company's performance. For additional details, please refer to the full disclaimer in the earnings release that was published earlier today. After the prepared remarks, we will open the call for questions.
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