HEINY - FEMSA Undervalued As Latin American Consumers Recover
- FEMSA beat at the revenue and margin lines in Q2, with improving volume trends at Coca-Cola FEMSA, stronger same-store sales at OXXO, and better margins at OXXO and Health.
- Management is reengaging its growth plans, including organic store additions for OXXO and Health, new offerings like Premia and spin, and perhaps renewed M&A activity in bottling.
- Long-term revenue and FCF growth of 7% and 10% respectively can drive double-digit long-term returns in FMX shares.
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FEMSA Undervalued As Latin American Consumers Recover