FEMSA (FMX) Posts Sturdy Q2 Growth: Revenues & Earnings Up Y/Y

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 ...