Coca-Cola FEMSA
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Coca-Cola FEMSA (KOF) investor relations material

Coca-Cola FEMSA Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary26 Oct, 2026

Executive summary

  • Q3 volume reached a record 1,089.8 million unit cases, up 5.3% YoY, with growth across all operations; revenue increased 10.9% reported and 11.3% currency-neutral to Ps. 79,718 million.

  • Operating income rose 15.4% to Ps. 11,874 million, including Ps. 1,055 million of Brazil insurance-claim income; adjusted EBITDA increased 16.2% to Ps. 16,794 million.

  • Majority net income grew 5.5% to Ps. 6,223 million, as higher operating income was partly offset by higher financing expense and income tax.

Financial highlights

  • Gross profit grew 14.5% to Ps. 37,082 million; gross margin expanded 140 bps to 46.5%, supported by lower sweetener and PET costs and currency appreciation, partly offset by aluminum costs and mix.

  • Operating margin rose 60 bps to 14.9%; excluding the Brazil insurance recovery, operating income increased 7.4% and margin was 13.6%, down 40 bps.

  • Adjusted EBITDA margin increased 100 bps to 21.1%; excluding the insurance recovery, EBITDA grew 10.6% and margin was 19.7%.

  • YTD revenue rose 6.2% reported and 10.4% currency-neutral; operating income grew 8.0% and adjusted EBITDA 10.4% reported.

  • Q3 EPS was Ps. 0.37, or Ps. 2.96 per unit and Ps. 29.62 per ADS; transactions increased 5.4% to 6,528.4 million.

Outlook and guidance

  • Priorities for the rest of 2026 and into 2027 include revenue growth management, operating efficiencies, scale and digital capabilities; financial-market volatility and possible cost pressures remain considerations.

  • Mexico plans further RGM actions in November to address FX and raw-material impacts; daily sales trends were flat to gradually improving, and the 2027 outlook was moderately optimistic.

  • Management expects a more normalized 2027 in Mexico, without the 2025 consumer backlash or 2026 excise-tax increase; Brazil labor reform costs are to be addressed through productivity and RGM.

  • 2027 commodity hedges secured 16% of PET, 85% of sugar, 94% of HFCS and 54% of aluminum requirements to date.

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Frequently asked questions

Coca-Cola FEMSA S.A.B. de C.V. is the largest franchise bottler of Coca-Cola products in the world by volume. The company produces, markets, and distributes a variety of non-alcoholic beverages, including soft drinks, juices, and bottled water, under the Coca-Cola brand. Operating across several countries in Latin America and parts of Southeast Asia, Coca-Cola FEMSA serves retailers, wholesalers, and other commercial customers. In addition to its Coca-Cola portfolio, the company distributes beverages under other brand agreements within its territories. The company is headquartered in Mexico City, Mexico, and its shares are listed on the BMV.