FMX - FEMSA Offers A Strong Core Amid Market Wobbles
As a leading consumer/retail business in Mexico, there’s no getting around the fact that currency matters to the valuation and day-to-day performance of FEMSA (FMX). The trick, if I can call it that, is balancing the usually shorter-term impacts of currency volatility with the longer-term core operating fundamentals and quality of the business. So while the recent currency pressures (not to mention greater caution regarding emerging markets) is certainly relevant, I wouldn’t lose sight of the long-term quality of this business.
Noisy Third Quarter Results, With Okay Underlying Trends
FEMSA did miss expectations