# Coca-Cola FEMSA Q3 2026 Earnings Results

> Coca-Cola FEMSA reports record Q3 volumes and margin expansion amid regional growth and hedging strategies.
- Title: Coca-Cola FEMSA Q3 2026 Earnings Results · The Motley Fool
- Summary: Coca-Cola FEMSA reports record Q3 volumes and margin expansion amid regional growth and hedging strategies. Coca-Cola FEMSA achieved record Q3 consolidated…
- Keywords: coca cola femsa, kof, q3 2026, revenue growth, gross margin, volume expansion, commodity hedging, latam, finance, money, Coca-Cola, FEMSA
- Source: The Motley Fool — https://fool.com/earnings/call-transcripts/2026/10/26/coca-cola-femsa-kof-q3-2026-earnings-call-transcript
- Author: Motley Fool Transcribing
- Published: 2026-10-26T18:25:54+00:00
- Read time: 2 min
- Topics: coca cola femsa, kof, q3 2026, revenue growth, gross margin, volume expansion, commodity hedging, latam, finance, money
## Q3 2026 Results
Coca-Cola FEMSA reported record third-quarter consolidated volumes of 1.1 billion unit cases, a 5.3% increase.
## Revenue Growth
Total revenue reached MXN 79.7 billion, a 10.9% increase driven by record volumes and revenue growth management.
## Gross Margin Expansion
Gross profit increased to MXN 37 billion, yielding a 46.5% margin that expanded 140 basis points due to lower sweetener and PET costs.
## Operating Income
Operating income rose to MXN 11.9 billion, including a MXN 1.1 billion nonrecurring benefit from recovered insurance claims in Brazil.
## Adjusted EBITDA
Adjusted EBITDA grew to MXN 16.8 billion, a 16.2% increase with a 21.1% margin.
## Mexico Performance
Mexico volumes grew 4.2% with a 70-basis-point value share gain in sparkling beverages and 14.3% operating margin.
## South America
South America revenue reached MXN 33 billion, a 14.7% increase driven by volume growth and favorable currency translation.
## Colombia Growth
Colombia volumes grew 15.9% reflecting higher household purchasing power and regional GDP growth of approximately 3.5%.
## Brazil Performance
Brazil volumes grew 3.9% with Coca-Cola Zero volumes rising 15% versus the prior year.
## Digital Revenue
Digital revenue in Brazil reached 42% of traditional trade revenues with an 18% increase in average ticket size.
## Guatemala Growth
Guatemala volumes grew 8% outperforming the nonalcoholic ready-to-drink industry which grew approximately 5.5%.
## Commodity Hedging
2026 raw material hedges covered 65% for PET, 88% for sugar, 98% for high-fructose corn syrup, and 74% for aluminum.
## 2027 Hedging Strategy
2027 raw material hedges target 16% for PET, 85% for sugar, 94% for high-fructose corn syrup, and 54% for aluminum.
## Net Income
Majority net income increased to MXN 6.2 billion, a 5.5% rise reflecting higher operating income partially offset by financing expenses.
## Argentina Performance
Argentina volumes remained flat year over year with inflation moderating to 33.4% and sparkling beverage volumes up 3.9%.
## Digital Engagement
Mexico digital engagement reached 81% customer coverage, resulting in a 19% increase in client interaction quality.
## Key takeaway

Coca-Cola FEMSA achieved record Q3 consolidated volumes of 1.1 billion unit cases with 10.9% revenue growth and 46.5% gross margin expansion.