FEMSA (FMX) Q1 Earnings Decline Year Over Year, Revenues Up

Fomento Economico Mexicano S.A.B. de C.V. (FMX) , alias FEMSA, reported first-quarter 2024 net majority earnings per ADS of 49 cents (Ps. 0.82 per FEMSA unit). The company posted adjusted net majority earnings per ADS of 47 cents, down from $1.16 earned in the year-ago quarter.Net consolidated income was Ps. 5,884 million (US$355.4 million), reflecting a decrease from Ps.50,329 million from the year-ago quarter.Total revenues were $10.8 billion (Ps. 178,204 million), which improved 11.3% year over year in t ...