EarningsQ3 2026 Earnings Report
DE:CFSL Q3 2026 EPS Results
Actual EPS€1.54
Consensus EPS€1.53
Beat/MissBeat by +<€0.01
One Year Ago EPS€25.23
DE:CFSL Q3 2026 Revenue Results
Actual Revenue€4.15B
Expected Revenue€3.80B
Beat/MissBeat by +€347.16M
YoY Revenue Growth+19.66%
Earnings Announcement Details
QuarterQ3 2026
Date10/28/2026
TimeTBA
Conference CallWednesday, October 28, 2026
DE:CFSL Upcoming Earnings
Coca Cola Femsa SAB De CV's next earnings date is estimated for February 25, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:CFSL Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Q3 2026
Earnings Call Date:Oct 28, 2026|
% Change Since:
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Earnings Call Sentiment|Positive
The call was predominantly positive. The company delivered record consolidated volumes, double-digit revenue growth, stronger gross profit and adjusted EBITDA, broad-based volume and market-share gains, substantial South American profitability improvement, successful innovation launches and continued digital and sustainability progress. The main challenges were Mexico's underlying margin pressure, higher labor and freight costs, increased financing expense, uncertain Brazil tax and labor reforms, volatile commodities, flat Argentina volumes and capacity constraints in Colombia and Venezuela. Management nevertheless expressed confidence in continued growth and profitability improvement.Company Guidance
Record Consolidated Volume and Strong Revenue Growth
Third-quarter consolidated volumes increased 5.3% year over year to 1.1 billion unit cases, marking a record third-quarter volume. Total revenues increased 10.9% to MXN 79.7 billion, or 11.3% on a currency-neutral basis, driven primarily by volume growth and revenue growth management initiatives.
Improved Gross Profit and Reported Operating Results
Gross profit increased 14.5% to MXN 37 billion, with gross margin expanding 140 basis points to 46.5%. Operating income increased 15.4% to MXN 11.9 billion, with operating margin expanding 60 basis points to 14.9%. Adjusted EBITDA increased 16.2% to MXN 16.8 billion, with the margin expanding 100 basis points to 21.1%. Majority net income increased 5.5% to MXN 6.2 billion.
Mexico Volume Growth and Market Share Gains
Mexico volumes increased 4.2% year over year, supported by affordability, differentiated price-pack architecture and commercial execution. Sparkling beverage value share increased 70 basis points as of September versus the prior year.
Mexico Innovation Gaining Traction
Coca-Cola Triple Zero, Topo Chico Sparkling Lemonade and Orange, and Ciel Aguas Frescas expanded the portfolio. Topo Chico Sparkling Lemonade and Orange reached 70% traditional-trade coverage and a 40% repurchase rate. Ciel Aguas Frescas reached 65% traditional-trade coverage and gained 7.6 percentage points of market share since its May launch. Management also said recent Mexican launches were performing above expectations, with supply shortages for some products.
Brazil Volume, Category and Market Share Growth
Brazil volumes increased 3.9% year over year. Coca-Cola Zero volumes increased 15%, flavors grew 8%, and still beverages grew 20%. The company gained close to 4 percentage points of market share in flavors, approximately 1.2 percentage points in total nonalcoholic ready-to-drink beverages and nearly 6 percentage points in energy drinks.
Brazil Single-Serve and Digital Commercial Progress
Brazil increased the share of single-serve products in its sparkling beverage volume mix by 80 basis points to 27.7%. Digital revenues represented close to 42% of traditional-trade revenues as of September, with an 18% increase in average ticket size.
Strong Guatemala Growth and Energy-Drink Performance
Guatemala volumes grew 8% year over year, outperforming the nonalcoholic ready-to-drink industry, which expanded approximately 5.5%. Energy-drink volumes grew 98%, supported by improved product availability.
Guatemala Sports-Drink Turnaround and Efficiency Initiatives
The 360-degree Powerade strategy produced a turnaround in sports drinks and an approximately 1 percentage point market-share gain. Cooler investments and Juntos+ supported execution, while body light-weighting and cost-to-serve optimization helped mitigate PET and diesel cost pressures.
Colombia Delivered High-Teens Volume Growth
Colombia volumes increased 15.9% year over year, supported by strong consumer demand, higher household purchasing power and commercial execution. Management cited higher wages, favorable weather and GDP growth of approximately 3.5% as supportive conditions.
Colombia Portfolio Growth and New-Category Expansion
Colombia sparkling beverage volumes increased 15.4%, including 13.5% growth in colas, 19.2% growth in Coca-Cola Zero and 23.9% growth in flavors. Noncarbonated beverages grew 12.9% year to date, with Powerade up 48.4% and Monster up 55.9%. Fury reached 30% customer coverage in its first month.
South America Profitability Expansion
South America volumes increased 6% to 448 million unit cases and revenues increased 14.7% to MXN 33 billion, or 14.1% on a currency-neutral basis. Gross profit grew 19.2% to MXN 14.6 billion, with gross margin expanding 160 basis points to 43.2%. Operating income increased 51.2% to MXN 5.3 billion, while adjusted EBITDA increased 39.7% to MXN 7.2 billion and the margin expanded 380 basis points to 21.4%.
Argentina Sparkling Portfolio Growth and Digital Orders
Although total volumes were flat year over year, Argentina's sparkling beverage portfolio grew 3.9%, supported by Coca-Cola Zero and Sprite. Digital orders increased 21% year over year.
Digital Platform Expansion
Juntos+ and Juntos+ Advisor continued to improve customer engagement, order recommendations, commercial-team productivity and customer coverage. The company plans to roll out order entry in Mexico, expand the advisor tool across Latin America and introduce a sales-supervisor tool in Brazil that provides real-time coaching and execution visibility.
Commodity Hedging Provides Cost Visibility
For 2026, the company hedged approximately 65% of PET requirements, 88% of sugar, 98% of HFCS and 74% of aluminum. For 2027, it had secured approximately 16% of PET, 85% of sugar, 94% of HFCS and 54% of alumina, with prices broadly in line with those of 2026 for the requirements secured.
Sustainability Score Reached a New Record
Coca-Cola FEMSA achieved a new record score of 82 in S&P Global's Corporate Sustainability Assessment.
Community Support Following Colombia Earthquake
Together with FEMSA and The Coca-Cola Company, the company provided more than 180 thousand liters of water, 30 thousand meals and essential supplies after the Colombia earthquake. It also committed to supporting more than 1 thousand traditional-trade stores and helping rebuild approximately 150 stores.
Potential Shareholder Capital Return Update
Management said it had finalized its analysis and expected to provide news earlier next year regarding the mechanism of capital return to shareholders.
Confidence in Longer-Term Innovation and Growth
Management said the company was well positioned to capture growth opportunities across its markets and was particularly encouraged by the innovation pipeline expected for 2027, including recent launches and the revamp of Sprite Zero.
DE:CFSL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed