Core Insights - FEMSA reported third-quarter 2024 net majority earnings per ADS of 84 cents, with adjusted net majority earnings per ADS at $1.37, down from $1.75 in the same quarter last year [1][2] - Total revenues reached $10 billion, reflecting an 8.3% year-over-year improvement in local currency, driven by gains across all business units and favorable currency rates [2] - Net consolidated income was Ps. 9,243 million (US$469.4 million), marking a decline of 27.5% from the previous year [1] Financial Performance - Gross profit increased by 12.1% year over year to Ps. 79,368 million (US$4.03 billion), with a consolidated gross margin expansion of 130 basis points [4] - Operating income improved 14.6% year over year to Ps. 17,374 million (US$882.4 million), with a consolidated operating margin increase of 50 basis points to 8.8% [6] Segment Performance - **Proximity Americas**: Revenues rose 4.8% year over year to Ps. 77,594 million (US$3.9 billion), with flat same-store sales due to a decline in store traffic [7][8] - **Proximity Europe**: Revenues grew 20.4% year over year to Ps. 13,480 million (US$684.6 million), with operating income increasing by 57.2% [9] - **Health Division**: Reported revenues of Ps. 20,883 million (US$1.06 billion), up 12.5% year over year, with same-store sales rising 7.4% [10] - **Fuel Division**: Revenues increased 8.2% year over year to Ps. 17,076 million (US$867.2 million), with operating income rising 17% [11] - **Coca-Cola FEMSA**: Revenues advanced 10.7% year over year to Ps. 69,601 million (US$3.5 billion), with operating margin expanding by 30 basis points [12] Financial Position - As of September 30, 2024, FEMSA had cash and cash equivalents of Ps. 155,770 million (US$7.9 billion) and long-term debt of Ps. 137,794 million (US$7 billion) [13] - Capital expenditures in Q3 2024 totaled Ps. 12,138 million (US$616.4 million), focusing on investments in Coca-Cola FEMSA and Proximity Americas [13]

MONTERREY, Mexico, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced it has reached a definitive agreement with AMMI, a leading holding company focused in the production of non-GMO corn and sustainable plastic packaging, affiliate of Milenio Capital, to divest FEMSA's plastics solutions operations, for a total amount of $3,165 million pesos, on a cash-free, debt-free basis. This transaction represents an addi ...

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Q3 2024 Earnings Conference Call October 28, 2024 10:30 AM ET Company Participants Juan Fonseca - Director, IR José Antonio Fernández Garza-Lagüera - CEO, Proximity & Health Martin Arias - CFO Conference Call Participants Ricardo Alves - Morgan Stanley Bob Ford - Bank of America Antonio Hernandez - Actinver Ben Theurer - Barclays Thiago Bortoluci - Goldman Sachs Alvaro Garcia - BTG Pactual Rodrigo Alcantara - UBS Carlos Laboy - HSBC Hector Maya - Scotiab ...

MONTERREY, Mexico, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA") (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced today its operational and financial results for the third quarter of 2024. FEMSA: Total Consolidated Revenues grew 8.3% and Income from Operations increased 14.6% compared to 3Q23. FEMSA Retail1: Proximity Americas total Revenues grew 4.8% and Income from operations increased 5.9% versus 3Q23. DIGITAL: Spin by OXXO had 8.2 million active users2 representing ...

Exhibit 99.1 3Q 2024 Results October 28, 2024 Investor Contact (52) 818-328-6167 investor@femsa.com.mx femsa.gcs-web.com Media Contact (52) 555-249-6843 comunicacion@femsa.com.mx femsa.com October 28, 2024 | Page 1 HIGHLIGHTS Monterrey, Mexico, October 28, 2024 — Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA") (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced today its operational and financial results for the third quarter of 2024. Financial Summary for the Third Quarter 2024 Change vs. comparable period ...

MONTERREY, Mexico, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) is pleased to invite you to participate in its Third Quarter Conference Call that will be held on: Monday, October 28, 2024 10:30 AM Eastern Time (8:30 AM Mexico City Time) To participate in the conference call please dial: Toll Free US: (866) 580 3963 International: +1 (786) 697 3501 Conference ID: FEMSA The quarterly results will be released on Octo ...

Fomento Economico Mexicano S.A.B. de C.V. (FMX) , alias FEMSA, stays on the list of investors' favorite beverage stocks, mainly because of effective growth strategies and strong market demand. The company continues to progress on the FEMSA Forward Strategy, which is focused on the long-term value creation of its core businesses — retail, Coca-Cola FEMSA (KOF) and Digital@FEMSA. Its retail business provides substantial opportunities for long-term growth, backed by improvements in the Proximity division. FEMS ...

Fomento Economico Mexicano S.A.B. de C.V. (FMX) alias FEMSA shares have witnessed a pullback from the beginning of 2024, with the stock declining as much as 20.8% in the year-to-date period. This pullback in share price relates to the challenges in the Health division that have impacted its performance in recent quarters. FEMSA's Health division is in a weak spot due to its operations in diverse and often challenging macroeconomic and commercial environments. The Health division is facing complex, competiti ...

The theoretically defensive food and beverage sector hasn't really been all that defensive of late in Mexico, as companies like Arca Continental (OTCPK:EMBVF), Coca-Cola FEMSA (KOF), FEMSA (NYSE:FMX), Grupo Soriana (OGZSY), and WalMex (OTCQX:WMMVY) have all had rather lackluster performances since my last update on FEMSA. While most of these names have managed to outperform the overall index in Mexico, they haven't exactly done well as investors have been much more cautious about the country since the presi ...

Shares of the Zacks Rank #3 (Hold) company have lost 14.8% in the year-to-date period against the industry's 5.3% growth. FEMSA's gross profit rose 19.1% year over year to Ps. 82,440 million (US$4.5 billion). The consolidated gross margin expanded 240 basis points (bps), owing to the gross margin expansion in Proximity Americas, Proximity Europe and Coca-Cola FEMSA; and steady margins in FEMSA's Health and Fuel operations. FEMSA's operating income (income from operations) improved 15.8% year over year to Ps ...