Coca-Cola Femsa: Quarterly Report 3Q22: Resilient demand drives third quarter’s results

  • Solid revenue gains, supported by strong volume growth in all regions and above-inflation pricing favored results

  • Operating efficiencies offset profitability pressures. Mexico stood out with an EBITDA increase of 18.3% YoY

  • Incorporating quarter's figures and 2023 outlook, we set a PT of MXN 134.00 and a recommendation to HOLD
November 1st, 2022
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