Mexican retailer and bottler FEMSA said total consolidated revenues grew 9.8% in the third quarter of 2026, with OXXO Mexico revenues up 10.3% and Coca-Cola FEMSA revenues up 10.9%, while its Europe and Health divisions reported weaker operating results.
Fomento Economico Mexicano, known as FEMSA, reported third-quarter 2026 results on October 28 showing total consolidated revenues up 9.8 percent and income from operations up 9.9 percent compared with the third quarter of 2025. The Monterrey-based group, which runs the OXXO convenience chain and is the world's largest Coca-Cola franchise bottler by volume, said growth was led by its two largest businesses.
OXXO Mexico revenues grew 10.3 percent and income from operations rose 5.8 percent, with same-store sales up 9.2 percent. Its digital platform Spin by OXXO had 11.7 million active users, up 17.3 percent, while Spin Premia had 30.0 million active loyalty users, up 8.3 percent, and the average tender through Premia at OXXO Mexico reached 52.1 percent, up from 48.2 percent a year earlier. Coca-Cola FEMSA revenues grew 10.9 percent and income from operations rose 15.4 percent, which chief executive Jose Antonio Fernandez Garza-Laguera described as a very strong quarter with solid volume trends and broad-based contributions.
FEMSA also updated its reporting segments to OXXO Mexico, Americas and Mobility, Europe, Health, and Coca-Cola FEMSA, saying the change gives investors greater visibility into the drivers of performance. The update is a disclosure change, not a change in the underlying businesses, and only the first two segments changed relative to the previous structure.
The figures in this story come from FEMSA's own release, which is the primary source for its results, and they are reported here as the company's figures, not as independently audited results. The release itself shows the quarter was not uniformly strong: Europe revenues fell 5.2 percent as reported and income from operations fell 24.8 percent, while Health income from operations fell 63.2 percent, and the chief executive acknowledged operating headwinds in both divisions alongside a soft consumer environment in Mexico and volatility in Brazil.
The next test is the final quarter, where FEMSA warns it faces a more demanding comparison base. The question for investors is whether OXXO Mexico's traffic recovery, which the company says delivered its strongest performance in more than two years, and Coca-Cola FEMSA's volume strength can carry the group while Europe and Health are worked back toward their potential.