Fomento Económico Mexicano, S.A.B. de C.V. (FMX) Earnings
Fomento Económico Mexicano, S.A.B. de C.V. is expected to report next earnings on July 28, 2026 (in NaN days), with a consensus EPS estimate of $1.17. FMX has beaten EPS estimates in 8 of its last 11 reported quarters (average surprise +804.1% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $0.65 | $0.92 | +41.5% | $11.7B | +2.5% |
| Feb 25, 2026 | $1.50 | $1.38 | -8.0% | $12.2B | +3.1% |
| Mar 21, 2025 | — | $1.44 | — | $10.0B | — |
| Jul 24, 2024 | $0.07 | $1.87 | +2474.3% | $10.9B | -0.9% |
| Apr 26, 2024 | $0.06 | $0.47 | +708.4% | $10.6B | -3.2% |
| Mar 22, 2024 | $1.61 | $0.09 | -94.4% | $10.6B | — |
| Oct 27, 2023 | $1.16 | $1.75 | +50.9% | $10.7B | -2.8% |
| Jul 27, 2023 | $1.21 | $1.64 | +35.5% | $11.6B | +0.7% |
| Apr 28, 2023 | $0.76 | $1.16 | +52.6% | $9.9B | +5.2% |
| Feb 24, 2023 | $1.28 | $0.69 | -46.1% | $9.5B | +10.2% |
| Oct 28, 2022 | $1.25 | $1.49 | +19.2% | $8.5B | +6.3% |
| Jul 28, 2022 | $1.04 | $1.10 | +5.8% | $8.3B | +8.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Changed reporting segments: OXO Medico on its own, new segment Americas and Mobility. - OXO Mexico had strong performance with revenue growth, gross margin expansion, etc. - Americas and Mobility segment had strong revenue growth. - Europe, health, and Coca-Cola Pensa had respective performances. - Organizational changes completed with renewed senior leadership teams. - SPIN had good quarter with 11 million active users and over 100 million monthly transactions.
Guidance
- Expect CapEx deployment to accelerate through the rest of the year. - Anticipate shareholder returns with ordinary and extraordinary dividends, and share repurchase program. - Optimistic but cautious about the macro environment, especially the second half of the year.
Segment performance
OXO Mexico: 8.3% revenue growth, driven by same-store sales beating industry, with growth in tobacco and soft drink categories. Gross margin expanded. Selling expense contained. Americas and Mobility: Total revenues 25 billion pesos, up 12.9%, with strong performance across OXXO Latinx and consolidation of OXXO Brazil. Europe: Total revenues 12.9 billion pesos, stable in peso terms. Health: Total revenues 22.2 billion pesos, grew 0.9% year-over-year. Coca-Cola Pensa: Remains as before with focused strategies.
Risks & headwinds
- Credit risk in Colombian healthcare institutional business due to funding gaps and potential insolvency of certain MPSs. - Challenges in traffic improvement in OXO Mexico despite progress. - Macro environment uncertainties affecting performance.
Analyst Q&A
Q: On EBITDA difference relative to last year,
A: Decline in spin losses and cost-containment efforts.
Q: Impact of Pacific area issues on traffic,
A: Traffic better than average but still not fully satisfied.
Q: Oxford gross margin and World Cup contribution,
A: No major contribution yet, but expecting more in second quarter.
Q: Affordability strategy beyond World Cup,
A: Focus on food and coffee, daily replenishment.
Q: Portfolio simplification and pharma business,
A: Always studying portfolio, pharma has potential but Mexico underperforms.
Q: New store productivity,
A: Niche stores impact, pruning underperforming stores.
Q: Ticket growth in OXO Mexico,
A: Big portion related to tax pass-through.
Q: Leverage and capital allocation,
A: Likely below target two times net debt to EBITDA by end of year.
Q: Bar expansion in north,
A: Encouraging performance, accelerating store expansion.
Q: Merchandise margins in Americas,
A: Comparable excludes Brazil, Colombia maturing well.
Q: OXO Mexico margin expansion drivers,
A: Mix of commercial income, etc.
Q: SPIN performance and tender,
A: Encouraging results, aiming for higher tender participation