Mexican Store Giant Femsa Profit Jumps 81%

MEXICO · EARNINGS

Shoppers came back to OXXO in the third quarter, and its owner FEMSA reported a much bigger profit. FEMSA, a Monterrey-based conglomerate that also runs a health division and fuel stations and holds a stake in Coca-Cola FEMSA, released the results on Wednesday 28 October 2026.

Consolidated net income rose 81% to 10.57 billion pesos (about US$567 million), on revenue up 9.8% to 235.6 billion pesos (about US$12.64 billion). This article converts pesos at 18.64 per US$, the spot rate on 28 October 2026.

Its bottler, in which FEMSA holds a stake, is covered in our report on Coca-Cola FEMSA’s third quarter. More Mexican business news is in our Mexico hub.

Why Profit Jumped 81%

Most of the jump came from the absence of last year’s loss, not from sales. In the third quarter of 2025 FEMSA recorded a 3.15 billion peso (about US$169 million) loss from discontinued operations, linked to the sale of its logistics business Solistica.

A non-cash currency gain of 1.12 billion pesos (about US$60 million) also replaced a 1.26 billion peso loss (about US$68 million) a year earlier. The company said the peso’s depreciation against the US dollar drove the swing, because FEMSA holds US dollar cash and investments that gain peso value when the peso weakens.

Income from operations, the profit from running the businesses before interest and tax, rose 9.9% to 19.92 billion pesos (about US$1.07 billion). Adjusted EBITDA, a cash-profit measure, rose 12.9% to 34.83 billion pesos (about US$1.87 billion).

Profit attributable to FEMSA shareholders was 6.81 billion pesos (about US$365 million), more than 2.8 times the 2.42 billion pesos of a year earlier. That works out to US$1.10 per American depositary share (ADS), the form in which US investors hold the stock.

OXXO Mexico Draws More Shoppers

OXXO Mexico revenue rose 10.3% to 86.65 billion pesos (about US$4.65 billion). Same-store sales, which strip out new openings, rose 9.2%, helped by a 5.5% higher average ticket and 3.5% more store traffic.

Chief Executive José Antonio Fernández Garza-Lagüera said customer traffic delivered “its strongest performance in more than two years”. He credited stronger execution in most regions and promotions on categories that bring people into stores.

Profit grew more slowly than sales. OXXO Mexico’s operating income rose only 5.8% to 8.04 billion pesos (about US$431 million), because gross margin fell 1.2 percentage points to 44.8%.

The company pointed to a demanding comparison base and to price adjustments in categories meant to draw traffic.The chain had 24,759 stores at the end of September, up 702 in 12 months.

Spin by OXXO, its payments app, had 11.7 million active users, up 17.3%.

Where Growth Is Still Weak

Americas & Mobility, which groups OXXO outside Mexico with fuel sales, grew revenue 18.1% to 29.47 billion pesos (about US$1.58 billion). Its operating income fell 75.9% to 170 million pesos (about US$9 million), mainly because OXXO Brazil’s losses now enter the consolidated results and fuel margins in Mexico stayed under pressure.

OXXO’s operations in Chile, Peru and Colombia improved.Health operating income fell 63.2% to 319 million pesos (about US$17 million), including a non-cash 430 million peso (about US$23 million) provision tied to winding down Colombia’s institutional business.

Europe’s operating income fell 24.8% to 531 million pesos (about US$28 million) on revenue that was down 5.2% in pesos, or up 4.0% excluding currency effects.The chief executive described the Mexican consumer as soft and Brazil as volatile, and warned of tougher year-on-year comparisons ahead.

Cash for Shareholders and the Share Price

FEMSA entered an accelerated share repurchase, a deal in which a bank buys the shares up front and delivers them over time, for up to US$280 million of its ADSs. Final settlement is expected before the end of 2026.

Net debt, which counts lease obligations and excludes Coca-Cola FEMSA, was 95.2 billion pesos (about US$5.11 billion), or 1.19 times adjusted EBITDA. The ADS closed at US$123.70 on Wednesday 28 October, 0.5% below Tuesday’s close.

What It Means for You

For US holders of FMX, the headline profit flatters the quarter. The cleaner signals are the 9.9% rise in operating income and the recovery in OXXO Mexico traffic, set against weak margins in Brazil, Colombia and Europe.

Mexico’s statistics office INEGI publishes its first estimate of third-quarter economic growth on Friday 30 October 2026, the next read on the consumer. Banxico, the central bank, announces its next interest rate decision on Thursday 5 November 2026.

What Is Not Known

The results release gives no full-year forecast, so it is unclear how much of the traffic recovery management expects to hold. It also does not explain the small dip in the ADS on Wednesday.

More: Mexico news in English, every day from The Rio Times.

Frequently Asked Questions

How much did FEMSA earn in the third quarter of 2026?

Consolidated net income rose 81% to 10.57 billion pesos (about US$567 million). Profit attributable to shareholders was 6.81 billion pesos (about US$365 million), or US$1.10 per ADS.

Why did FEMSA’s profit jump 81%?

Last year’s 3.15 billion peso loss from discontinued operations did not repeat, and a 1.12 billion peso currency gain replaced a loss. Operating income rose 9.9%.

How is OXXO Mexico performing?

Revenue rose 10.3% and same-store sales 9.2%, with store traffic up 3.5%. Operating income grew only 5.8% as gross margin fell, which the company tied to a tougher comparison base and price adjustments.

Where can US investors buy FEMSA?

It trades on the New York Stock Exchange as FMX through ADSs. The ADS closed at US$123.70 on 28 October 2026.

Sources: FEMSA third-quarter 2026 results, Form 6-K, Securities and Exchange Commission, 28 October 2026; INEGI release calendar; Banco de México decision calendar; New York Stock Exchange closing prices, 28 October 2026.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief

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