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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Effective November 1, Jose Antonio Fernández Garza-Lagüera will assume the position of General Director of Fomento Económico Mexicano (FEMSA) , a position held since July 2023 by Jose Antonio Fernández Carbajal, who will return to his duties as Executive Chairman of the FEMSA Board.

This change is part of FEMSA’s previously announced succession plan and represents a strategic step in consolidating its long-term corporate leadership, the company announced in a statement.

Fernández Garza-Lagüera, who serves as CEO of FEMSA Proximidad y Salud , joined Cervecería Cuauhtémoc Moctezuma Heineken in 2011 as Sales and Operations Manager.

“From there, he rose through various management roles across FEMSA’s business units, including Director of Strategic Planning at OXXO and FEMSA Comercio, as well as General Manager of FEMSA’s Plastics Division, General Manager of Coca-Cola FEMSA Central America, and General Manager of Spin,” the firm emphasized.

As CEO of FEMSA Proximidad y Salud, Fernández Garza-Lagüera leads a team of more than 180,000 employees and is responsible for an operation that encompasses more than 28,000 convenience stores in 11 countries in the Americas and Europe, more than 4,300 pharmacies in four Latin American markets, and more than 550 fuel stations in Mexico.

Jose Antonio Fernández Garza-Lagüera holds a degree in industrial engineering from the Monterrey Institute of Technology and an MBA from the Stanford Graduate School of Business .

“With his strategic approach and assertive, results-oriented leadership style, Jose Antonio will guide FEMSA into a new era of economic and social value creation, with a strong drive for growth, innovation, and sustainability, and with a continued focus on the development of FEMSA employees, their families, and the communities where the company operates,” the company emphasized.

The company recalled that since mid-2024, FEMSA launched a formal  succession planning process for its general management , which was coordinated by the Corporate Practices and Nominations Committee (CPSN).

“The Special Committee was chaired by Ricardo Saldívar Escajadillo, President of the CPSN, and comprised all other CPSN members and three additional independent directors. Once its evaluation was completed, the Special Committee issued its recommendation, which was approved by FEMSA’s Board of Directors,” he emphasized.

He indicated that in designing this process, as in previous general management appointments, they followed corporate best practices , “including the support of an international firm with extensive experience in processes of this nature, as well as advisors in various specialties.”

FEMSA noted that Jose Antonio Fernández Carbajal, Executive Chairman of the Board of Directors and interim CEO since July 2023, will continue in his role as Executive Chairman. “The Board of Directors expresses its sincere gratitude to Jose Antonio for his leadership and dedication in serving in both roles during this transition period,” the company emphasized.

It is worth remembering that in the second quarter of 2025, FEMSA obtained revenues of 211 thousand 364 million pesos (mdp) , which represented an increase of 6.3% compared to what was achieved in the same period of 2024, driven by the growth in its business units, through which it employs more than 392 thousand collaborators in 18 countries .

FEMSA participates in the retail industry through its Americas Proximity Division, which includes OXXO, a small-format store chain, and other related retail formats.

Main photo taken from the LinkedIn profile of Jose Antonio Fernández Garza-Lagüera .

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In the document, the company detailed that its operating cash flow (EBITDA) was 29.589 billion pesos, which represented a 3.4% increase compared to the same period last year.

The increase in its revenue, the firm explained, was due to the expansion of its Proximity division ( Oxxo ), mainly in the United States.

“Among the positive aspects, several of our convenience and beverage operations outside of Mexico delivered solid results, which, combined with favorable foreign exchange momentum, helped mitigate the impact. Our retail operations outside of Mexico showed encouraging signs of dynamic progress while refining their value propositions and increasing their scale,” highlighted José Antonio Fernández Carbajal, FEMSA’s CEO.

FEMSA explained that after adjusting for the effects of the peso’s exchange rate against the dollar and mergers and acquisitions, its total revenue grew 2.2 percent.

“On July 1, 2025, FEMSA announced that it completed the previously announced transaction on October 10, 2024, to divest certain of its logistics operations operating under the Solistica name to Grupo Traxión , a transportation and logistics company in Mexico. The transaction includes FEMSA’s transportation management operations in Mexico and contract logistics operations in Mexico, Brazil, and Colombia. The transaction does not include FEMSA’s less-than-truckload (LTL) operations in Brazil,” the document detailed.

According to the earnings report, its operating profit was  17.832 billion pesos , representing a 1.2% increase over the reference period, which also benefited from exchange rate effects.

“At Proximidad Américas Mexico, average store traffic was again below our expectations, while most trends outside of Mexico were positive,” said José Antonio Fernández.

Store expansion, which was 6.3% in 2Q25, as well as the consolidation of operations in the United States, helped mitigate the impact and sustain growth in the second quarter of the year.

“During the quarter, Oxxo’s store base in Mexico, the United States, and Latin America expanded by 334 stores. This division had 1,500 net additions in the last 12 months, including 249 stores from our acquisition of Delek’s retail operation in the United States. As of June 30, 2025, Proximidad Américas had a total of 25,180 stores,” the report explained.

The company emphasized that Coca-Cola FEMSA ‘s total revenue and operating income grew 5% and 0.2%, respectively, in the second quarter of the year, compared to the same period in 2024.

Its digital financial service, Spin by Oxxo , had 9.4 million active users in the second quarter of 2025, representing 18.8% growth compared to the same period last year.

“During the second quarter, our results were mixed. In our core operations in Mexico, we faced the challenging combination of a weak consumer environment and adverse weather conditions, which pressured our retail operations and beverage volumes. On the bright side, several of our retail and beverage operations outside of Mexico delivered solid results, which, combined with favorable foreign exchange momentum, helped mitigate the impact,” said FEMSA’s CEO.

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FINSA , a developer of industrial parks in Mexico, announced the acquisition of an industrial warehouse in the Santa Fe Tecnopark II park in Aguascalientes , for an amount exceeding 425 million pesos (mdp) .

According to a statement, the property currently operates as a distribution center for the Oxxo retail chain , reinforcing FINSA’s commitment to properties occupied by high-profile tenants.

With this transaction, the company has 320,000 square meters (m2) of built industrial space in the state, generating more than nine thousand jobs and consolidating its presence in one of the most dynamic regions of the Bajío region.

The developer emphasized that Aguascalientes stands out for its skilled workforce, strategic location, and logistical connectivity.

“This transaction reaffirms our confidence in the industrial dynamism of Aguascalientes and Mexico, and adds to the more than 70 locations that make up our national portfolio. We will continue investing in strategic locations that generate value for both our clients and our investors,” said Sergio Argüelles, President and CEO of FINSA.

FINSA also noted that the acquisition is part of FINSA’s Fund V strategy , which focuses on strengthening its portfolio by purchasing operating industrial properties.

This approach seeks to optimize return on investment and respond to the sustained growth of the national logistics market, driven by the rise of e-commerce, distribution, and warehousing.

With more than 70 locations in Mexico , FINSA remains committed to providing world-class industrial real estate solutions and continuing to lead the growth of the sector.

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BYD announced that  FEMSA acquired 15 units of the Dolphin Mini for OXXO employees who are in charge of supervising stores, completely electric units that contribute to the company’s strategy to reduce carbon emissions and promote sustainable mobility in its operations. .

This initiative reflects the shared vision of BYD México and FEMSA to reduce polluting gas emissions through concrete actions that benefit the environment to generate a more sustainable future.

“With these actions, BYD reinforces great alliances and its commitment to sustainability and our main objective of reducing the Earth’s temperature by 1 degree Celsius. We are very pleased to be part of this FEMSA initiative, which seeks to minimize the environmental impact and optimize the use of cleaner and more efficient energy,” said Jorge Vallejo, general director of BYD Motors México. 

In addition to the acquisition of these 15 BYD Dolphin Minis, FEMSA also moved forward with more tests of electric trucks for its supply chain that will serve the San Martín Obispo Distribution Center in the State of Mexico.

As part of FEMSA’s medium and long-term plans towards electrification of its fleet, charging stations were also installed that will recharge its freight transportation.

“At OXXO we are committed to concrete actions that benefit the environment. The incorporation of electric vehicles in our fleet is a significant step towards reducing our carbon emissions and towards a more sustainable future,” said Blanca Martínez, Director of OXXO Operations.

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JURIQUILLA, QRO.- For just over a year now, OXXO, one of the largest retail chains, has been implementing strategies to reduce the emissions resulting from its operations.

To make the leap, the company defined the project strategy with emissions compensation. Subsequently, it conducted an evaluation of electric truck suppliers, as well as charging infrastructure.

It also conducted tests with various original equipment manufacturers offering electric vehicles.

“Last year we started with one electric unit that was tested for about four months, and this year we will have four additional units to complete a fleet of five vehicles,” detailed Ilse Ogushi, Senior Distribution Team Leader for Supply Chain/Logistics Projects at OXXO, during her participation in the presentation “User Companies of Transportation, Challenges and Opportunities for Electrification,” held within the framework of the Second Sustainable Mobility Meeting organized by the National Association of Private Transport (ANTP).

Ogushi stated that the change is not just about buying electric vehicles, but about understanding how they will fit into operations, how they will be transported to the distribution center (cedis), and how they will be charged. “It’s not just about driving the unit, but paying attention to what our strategy needs to embrace so that progress can be made in the change,” she shared.

According to the supply chain and logistics specialist, the execution of OXXO’s electromobility plan will occur once everything makes sense, from a previous, during, and post-operation perspective. “That is, how the vehicles are integrated into the operation and how there is after-sales service so that this is cyclical and everything contributes to the issue of sustainable mobility,” she asserts.

Regarding the challenges the organization has faced with the change in energy matrix, Ogushi pointed out two main areas: the operational model and the infrastructure.

 “In the specific case of the last mile, there are various variables, one of the most important being refrigerated cargo, because due to the distances traveled, this must be profitable in terms of battery usage. We have been exploring various options, either connecting the battery to the truck or using a separate battery bank, because the cargo needs to be refrigerated for eight to 10 hours (daily),” stated the OXXO spokesperson.

The second challenge is to have versatility in units that adapt and support OXXO’s operation, and it is also necessary to have the necessary infrastructure for the operation.

Finally, Ogushi referred to the total cost of ownership (TCO), stating, “It’s not just about buying an electric truck, but figuring out how it needs to deliver the same productivity as the fleet of vehicles with combustion engines provides today.“

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