Coca-Cola Femsa SAB de CV · Q3 2025 earnings

Briefing

Coca-Cola FEMSA grew Q3 revenue 4.7% on a comparable basis to Ps. 71.9B as operating income rose 7.0% despite a 0.6% volume decline.

Coca-Cola FEMSA reported third-quarter 2025 total revenues of Ps. 71.88 billion, up 3.3% as reported and 4.7% on a comparable currency-neutral basis, as revenue management partially offset a 0.6% volume decline to 1.04 billion unit cases. Operating income increased 6.8% to Ps. 10.29 billion with margin expanding 50 basis points to 14.3%, and majority net income rose 0.7% to Ps. 5.90 billion (Ps. 0.35 EPS). South America delivered strong growth while Mexico remained soft; adjusted EBITDA was Ps. 14.45 billion and more than 60% of the client base are digital monthly active buyers.

• Total Q3 revenue was Ps. 71.88B (+4.7% comparable); volume fell 0.6% to 1,035.0M unit cases.
• Operating income grew 6.8% to Ps. 10.29B; operating margin expanded 50 bps to 14.3%.
• Majority net income was Ps. 5.90B with EPS of Ps. 0.35 per share.
• South America revenue rose 12.5% comparable on 2.6% volume growth; Mexico & Central America revenue was flat.
• Adjusted EBITDA was Ps. 14.45B (+4.0% comparable); digital monthly active buyers exceed 60% of clients.

Headline financials

Revenue & EPS history

Management expects gradual sequential improvement amid Mexico macro softness and is navigating a proposed Mexican beverage excise tax increase through affordability and cost-control initiatives.