Q3 2025 Fomento Economico Mexicano SAB de CV Earnings Call Transcript
Key Points
- Fomento Economico Mexicano SAB de CV (FMX) reported a 9.1% increase in total revenue for the third quarter of 2025, driven by solid top-line trends outside Mexico and the consolidation of the OXXO USA operation.
- The company successfully executed its FEMSA Forward strategy, divesting nearly $11 billion of assets while growing its core businesses.
- OXXO Mexico showed positive same-store sales growth for the first time since mid-2024, with a 1.7% increase, marking an inflection in the trend.
- The company is making significant progress in its digital ecosystem, with Spin continuing to grow its user base and engagement.
- Fomento Economico Mexicano SAB de CV (FMX) is optimistic about long-term growth opportunities in Brazil and Colombia, with OXXO Brazil and Bara showing strong potential for expansion.
- Net consolidated income decreased by 36.8% to MXN5.8 billion, primarily due to a noncash foreign exchange loss and higher interest expenses.
- The company faced a challenging environment in Mexico, impacting both Proximity and Coca-Cola FEMSA, although there were improvements in October.
- The Health division in Mexico experienced same-store sales declines and the closure of 423 underperforming stores.
- The recently announced tax increase in Mexico is expected to present challenges for Coca-Cola FEMSA.
- Interest expenses increased significantly, with a notable uptick at the FEMSA level, excluding Coca-Cola FEMSA, attributed to lease accounting and consolidation of the US business.
Good day, and welcome to today's FEMSA's third-quarter 2025 results conference call. My name is Serge, and I will be your coordinator for today's event. (Operator Instructions)
And now I'd like to hand the call over to Juan Fonseca. Please go ahead, sir.
Good morning, everyone, and welcome to FEMSA's third-quarter 2025 results conference call. Today, we are joined by our CEO and Chairman, José Antonio Fernández Carbajal; Jose Antonio Fernández Garza-Lagüera, our current CEO of our proximity and health division and future CEO of FEMSA; Martin Arias, our CFO; and Jorge Collazo, who heads Coca-Cola FEMSA's Investor Relations team.
The plan for today is a little different than usual. We will begin with our CEO and Chairman, who is traveling today and is therefore joining us remotely. Jose Antonio will share with us some thoughts on the past couple of years, where he sees our company today, and how he sees FEMSA position for the future as he gets ready to step
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