Core Insights - Barclays has lowered the price target for Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA) from $107 to $105 while maintaining an Equal Weight rating [1][2] Financial Performance - FEMSA reported Q3 2025 results on October 28, with earnings per share (EPS) of 7 Mexican pesos, missing the analyst consensus estimate by 15.34% [2] - Revenue for the quarter was 214.64 billion Mexican pesos, exceeding the consensus forecast of 211.54 billion Mexican pesos, representing a 9.1% increase compared to Q3 2024 [2] - Net consolidated income fell by 36.8% year-over-year to 5.8 billion Mexican pesos, primarily due to a non-cash foreign exchange loss of 1.3 billion Mexican pesos related to the company's US dollar-denominated cash position [3] - The previous year, FEMSA recorded a foreign exchange gain of 4.3 billion Mexican pesos [3] - The company distributed dividends totaling 11.8 billion Mexican pesos for the quarter [3] Company Overview - FEMSA is a multinational Mexican conglomerate and operates the largest independent Coca-Cola bottling group globally [4] - The company also owns OXXO, which is Mexico's largest convenience store chain [4]