FEMSA Announces Second Quarter 2025 Results
FEMSA: Total Consolidated Revenues grew 6.3% and Income from Operations increased 1.2% compared to 2Q24.
FEMSA Retail1: Proximity Americas total Revenues grew 6.9% and Income from operations decreased 2.8% versus 2Q24.
SPIN: Spin by OXXO had 9.4 million active users2 representing 18.8% growth compared to 2Q24 while Spin Premia had 26.6 million active loyalty users2 representing 16.9% growth compared to 2Q24, and an average tender3 at OXXO Mexico of 45.8% which increased from 36.1% tender in 2Q24.
COCA-COLA FEMSA: Total Revenues and Income from Operations grew 5.0% and 0.2%, respectively against 2Q24.
Financial Summary for the Second Quarter 2025Change vs. comparable period
Total Revenues
Gross Profit
Income fromOperations
Same-Store Sales
As Reported
2Q25
YTD25
2Q25
YTD25
2Q25
YTD25
2Q25
YTD25
FEMSA Consolidated
6.3%
8.3%
4.2%
9.2%
1.2%
2.6%
Proximity Americas
6.9%
6.9%
6.9%
8.3%
(2.8%)
(6.3%)
(0.4%)
(1.1)
Proximity Europe
31.4%
24.9%
25.6%
20.3%
54.4%
22.3%
N.A.
N.A.
Health
15.6%
18.3%
13.6%
18.3%
5.7%
15.2%
13.1%
14.3%
Fuel
0.6%
1.2%
6.6%
5.6%
13.6%
1.8%
4.9%
5.2%
Coca-Cola FEMSA
5.0%
6.7%
3.4%
6.9%
0.2%
3.3%
Comparable(A)
FEMSA Consolidated
2.2%
2.7%
0.0%
4.5%
(1.5%)
(3.9%)
Proximity Americas
2.0%
1.7%
4.3%
5.7%
(3.1%)
(10.8%)
(0.6%)
N.A.
Proximity Europe
5.9%
3.5%
1.2%
(0.3%)
24.0%
0.6%
N.A.
N.A.
Health
6.7%
6.8%
4.5%
6.5%
(5.2%)
2.2%
4.8%
N.A.
Fuel
0.6%
1.2%
6.6%
5.6%
13.6%
1.8%
4.9%
N.A.
Coca-Cola FEMSA
2.4%
3.3%
0.9%
3.5%
(2.6%)
0.3%
José Antonio Fernandez Carbajal, FEMSA's Chief Executive Officer, commented:
'During the second quarter, we delivered a mixed set of results. In our core operations in Mexico, we faced a challenging combination of a soft consumer environment and very adverse weather that put pressure on retail operations and beverage volumes. On the positive side, several of our proximity and beverage operations outside of Mexico delivered strong results, which combined with currency tailwinds, helped to mitigate the impact. The retail operations outside of Mexico provided encouraging signs that they are firing on all cylinders as they fine-tune their value propositions and increase their scale.
At Proximity Americas Mexico, weak traffic numbers stood out against an otherwise largely positive set of trends outside of Mexico, reflecting an environment in which convenience categories such as soft drinks, beer and tobacco underperformed other categories across channels. We are working hard together with our supplier partners to ensure we can adjust our assortment and price-package architecture to remain competitive in addressing our customers' needs as we advance through the summer and approach the key selling season in the fourth quarter. For its part, Valora delivered a solid result, as did our Health operations outside of Mexico. Finally, Coca-Cola FEMSA navigated the same challenging environment in Mexico which it is aggressively addressing with highly targeted and segmented packaging strategies, promotional activity, and expense control. Outside of Mexico, KOF continued to improve its competitive position and delivered strong results, particularly led by certain markets in South America, further reinforced by currency tailwinds.
We remain confident of the initiatives being implemented across businesses, and we are focused on reversing the traffic and volume trends and on managing costs and expenses in the second half of the year. Our businesses have repeatedly proven their resilience, and we believe we have the right strategy and team for the task.'
To obtain the full text of this earnings release, please visit our Investor Relations website athttps://femsa.gcs-web.com/ under the Financial Reports sectionCONFERENCE CALL INFORMATION
Our Second quarter 2025 Conference Call will be held on: Monday, July 28, 2025, 11:00 AM Eastern Time (9:00 AM Mexico City Time). The conference call will be webcast live through streaming audio.
Telephone:
Toll Free US:International:
(866) 580 3963+1 (786) 697 3501
Webcast:
https://edge.media-server.com/mmc/p/5pc7rawp/
Conference ID:
FEMSA
If you are unable to participate live, the conference call audio will be available on https://femsa.gcs-web.com/financial-reports/quarterly-results
ABOUT FEMSAFEMSA is a company that creates economic and social value through companies and institutions and strives to be the best employer and neighbor to the communities in which it operates. It participates in the retail industry through a Proximity Americas Division operating OXXO, a small-format store chain, and other related retail formats, and Proximity Europe which includes Valora, our European retail unit which operates convenience and foodvenience formats. In the retail industry it also participates through a Health Division, which includes drugstores and related activities and Spin, which includes Spin by OXXO and Spin Premia, among other digital financial services initiatives. In the beverage industry, it participates through Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola products in the world by volume. Across its business units, FEMSA has more than 392,000 employees in 18 countries. FEMSA is a member of the Dow Jones Best-in-Class World Index & Dow Jones Best-in-Class MILA Pacific Alliance Index, both from S&P Global; FTSE4Good Emerging Index; MSCI EM Latin America ESG Leaders Index; S&P/BMV Total México ESG, among other indexes.
____________________________
(A) Please refer to page 13 for our definition of 'comparable' and a description of the factors affecting the comparability of our financial and operating performance.1 FEMSA Retail: Proximity Americas & Europe, Fuel and FEMSA Health.2 Active User for Spin by OXXO: Any user with a balance or that has transacted within the last 56 days. Active User for Spin Premia: User that has transacted at least once with OXXO Premia within the last 90 days.3 Tender: OXXO MXN sales with Spin Premia redemption or accrual / Total OXXO MXN Sales, during the period.
CONTACT: Investor Contact (52) 818-328-6000 investor@femsa.com.mx femsa.gcs-web.com Media Contact (52) 555-249-6843 comunicacion@femsa.com.mx femsa.com擷取數據時發生錯誤
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The following table sets forth the reconciliation of EBITDA, EBITDA Margin, Adjusted EBITDA and Adjusted EBITDA Margin to the most comparable U.S. GAAP financial measure (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Income before income taxes $ 31,596 $ 23,003 $ 58,769 $ 38,559 Plus: Interest expense 14,744 15,384 29,404 30,928 Plus: Depreciation and amortization 9,490 8,127 18,624 15,665 EBITDA $ 55,830 $ 46,514 $ 106,797 $ 85,152 Plus: other non-recurring items(1) — 500 235 1,342 Plus: stock compensation expense 1,483 1,212 2,800 2,076 Adjusted EBITDA $ 57,313 $ 48,226 $ 109,832 $ 88,570 Operating Income Margin 9.2 % 8.4 % 8.9 % 7.7 % Net Income Margin 4.7 % 3.7 % 4.5 % 3.3 % EBITDA Margin 11.2 % 10.4 % 11.0 % 9.9 % Adjusted EBITDA Margin 11.5 % 10.8 % 11.3 % 10.3 % (1) Other non-recurring items includes unique acquisition integration costs and other non-cash, non-recurring costs not related to continuing business operations. We define and calculate organic sales to include locations and acquisitions under our ownership for at least twelve months. "Acquisition Sales" are sales from acquisitions that have been under our ownership for less than twelve months and are excluded in our calculation of Organic Sales. "Business Days" are days of the week, excluding Saturdays, Sundays, and holidays, that our locations are open during the year. Depending on the location and the season, our branches may be open on Saturdays and Sundays; however, for consistency, those days have been excluded from the calculation of Business Days. We define and calculate Sales per Business Day as sales divided by the number of Business Days in the relevant reporting period. We define and calculate Organic Sales per Business Day as Organic Sales divided by the number of Business Days in the relevant reporting period. The following table sets forth the reconciliation of Acquisition Sales, Organic Sales and Organic Sales per Business Day to the most comparable U.S. GAAP financial measure (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Sales by Business Segment Service Centers $ 339,731 $ 306,516 $ 666,806 $ 594,952 Innovative Pumping Solutions 93,540 73,377 179,722 135,592 Supply Chain Services 65,411 65,663 128,723 127,647 Total DXP Sales $ 498,682 $ 445,556 $ 975,251 $ 858,191 Acquisition Sales $ 24,605 $ 23,403 $ 55,717 $ 35,178 Organic Sales $ 474,077 $ 422,153 $ 919,534 $ 823,013 Business Days 63 64 126 127 Sales per Business Day $ 7,916 $ 6,962 $ 7,740 $ 6,757 Organic Sales per Business Day $ 7,525 $ 6,596 $ 7,298 $ 6,480 We define and calculate free cash flow as net cash (used in) provided by operating activities less purchases of property and equipment. 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International Seaways (INSW) Beats Q2 Earnings and Revenue Estimates
International Seaways (INSW) came out with quarterly earnings of $1.02 per share, beating the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $2.37 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +12.09%. A quarter ago, it was expected that this company would post earnings of $0.59 per share when it actually produced earnings of $0.8, delivering a surprise of +35.59%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. International Seaways, which belongs to the Zacks Transportation - Shipping industry, posted revenues of $195.64 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 2.36%. This compares to year-ago revenues of $257.41 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. International Seaways shares have added about 20.4% since the beginning of the year versus the S&P 500's gain of 7.1%. What's Next for International Seaways? While International Seaways has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for International Seaways was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.94 on $186.61 million in revenues for the coming quarter and $4.24 on $765.69 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Shipping is currently in the bottom 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Cadeler (CDLR), is yet to report results for the quarter ended June 2025. The results are expected to be released on August 26. This offshore wind farm transportation and installation contractor is expected to post quarterly earnings of $0.61 per share in its upcoming report, which represents a year-over-year change of +134.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Cadeler's revenues are expected to be $147.51 million, up 117% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report International Seaways Inc. (INSW) : Free Stock Analysis Report Cadeler A/S Sponsored ADR (CDLR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
