Coca-Cola FEMSA reported a net income of $272.5 million for its second quarter of 2025, with earnings per share at $1.30. The company posted revenue of $3.74 billion for the quarter, reflecting its sales performance during the period.
For the six months ended June 30, 2025, consolidated total revenues increased by 6.7% to Ps. 142,703 million, driven by revenue management initiatives and favorable currency translation effects. Gross profit for the period rose by 6.9% to Ps. 64,716 million, with a slight gross margin expansion of 10 basis points to 45.4%.
Despite revenue and gross profit growth, total sales volume contracted by 3.9% for the first half of 2025. Net income attributable to equity holders of the parent decreased by 1.4% to Ps. 10,450 million, impacted by higher comprehensive financing results and income taxes.
Operating income for Q2 2025 remained flat at Ps. 9.7 billion, leading to an operating margin contraction of 60 basis points to 13.4%. This was primarily due to lower operating leverage and increased operating expenses, partially offset by cost efficiencies.
Operational challenges included a 10% volume decline in Mexico due to a softer macroeconomic backdrop and adverse weather, and a 1.5% volume decline in Brazil due to colder temperatures. However, Argentina's volumes increased by 11.9% as macro indicators improved.
A positive development for the second half of the year is the full recovery of the Porto Alegre plant in Brazil, which is back at 100% capacity as of July 2025. This recovery is expected to improve customer service and freight costs, providing a tailwind for future performance.
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