In the second quarter of 2026 (2Q26), Fomento Económico Mexicano (FEMSA) obtained revenues of 231 billion 002 million pesos (mdp) , which meant an increase of 9.3% compared to the same period in 2025, driven by growth in Coca-Cola FEMSA, OXXO Mexico, Americas and Mobility, and Health, partially offset by a decrease in Europe.
“During the second quarter, we achieved solid results, reflecting encouraging performance at OXXO Mexico and sustained momentum in many of our retail operations , while Coca-Cola FEMSA navigated a still challenging environment caused by weak consumer demand and increases in excise taxes in Mexico, which was more than offset by strong performances in South America,” said Jose Antonio Fernández Garza-Lagüera, CEO of FEMSA.
According to its operational and financial results report, the company detailed that its operating cash flow (EBITDA) was 33,340 million pesos , an increase of 12.7% compared to the figure for the same period last year.
Meanwhile, gross profit in Q2 2026 was 92,611 million pesos , 7.8% higher than in the second quarter of 2025 (Q2 2025).
“The gross margin would have contracted by 20 basis points, from a base of 40.3% for the second quarter of 2025. On a like-for-like basis, which considers currency effects and the consolidation of OXXO Brazil, gross profit increased by 8.8%,” the firm explained.
During the period, FEMSA’s operating profit totaled 19,110 million pesos , an increase of 7.2% compared to Q2 2025, driven by growth in Coca-Cola FEMSA and OXXO Mexico, “partially offset by decreases in Americas and Mobility, Europe, and Health.”
OXXO Mexico’s total revenue grew 11.8% and operating profit increased 12.3% compared to Q2 2025. Meanwhile, Spin by OXXO had 11.5 million active users, a 22.1% increase compared to the second quarter of last year.
“It’s worth highlighting OXXO Mexico’s quarter, which achieved double-digit revenue and profit growth and, importantly, a return to positive growth in customer traffic after several quarters of decline. While the World Cup made a positive contribution during the quarter, we believe there was an additional boost resulting from better execution across the country of commercial initiatives focused on key categories to increase traffic,” the executive emphasized.
Coca-Cola FEMSA’s total revenue increased 4.7% and operating profit rose 9.1% year-on-year.
Regarding its results in the first half of 2026 (1H26), total revenues were 438,695 million pesos , 7.8% more than in the same period of 2025.
“Revenues were driven by growth in Coca-Cola FEMSA, OXXO Mexico, Americas and Mobility, and Health, partially offset by a decline in Europe. Revenues reflected a net negative foreign exchange effect due to the appreciation of the Mexican peso against other currencies; as a result, revenues grew 9.3% on a like-for-like basis,” the company stated in its report.
FEMSA’s gross profit was 176.666 billion pesos, representing a 7.3% increase compared to the same period last year. In its earnings report, the company indicated that its operating profit was 33.421 billion pesos in the first six months of 2026, a 6.5% year-over-year increase, driven by growth at Coca-Cola FEMSA and OXXO Mexico. EBITDA was 61.455 billion pesos, a 12.1% increase compared to the first half of 2025.
“Looking ahead, and despite continuing to face a weak consumer environment in Mexico that no longer has the boost of the World Cup, we view the current trajectory in most of our business units favorably, and we are cautiously optimistic about the second half of the year, although we anticipate that it may be more moderate,” said the CEO of FEMSA.
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