Coca-Cola FEMSA (KOF) is trading lower after releasing first-quarter 2026 results on April 29, 2026. While consolidated volume increased 1.2% and revenue rose 1.1% (or 6.0% on a currency-neutral basis), profitability metrics were weaker, with operating income down 2.3% and majority net income down 15.5%, which the company tied mainly to a higher comprehensive financing result. (femsa.com)

Management pointed to a softer consumer environment in Mexico alongside an excise tax increase, which contributed to a volume decline in Mexico even as other markets posted gains. The company also said unfavorable volume and mix impacts from the tax increase, plus severance and IT expenses, drove a 17.4% drop in operating income in Mexico and Central America, partially offset by stronger performance in South America. (femsa.com)

Despite the Mexico headwinds, the company said it gained share across most markets and categories and cited record first-quarter volumes in Brazil, Colombia, and Guatemala. Looking ahead through 2026, it plans targeted revenue-management actions to support longer-term volume growth, continued efficiency efforts to protect profitability, and marketing leverage tied to the FIFA World Cup across its footprint. (femsa.com)