Fomento Económico Mexicano, S.A.B. de C.V. (FMX) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

July 28, 2022 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, and welcome to everyone to FEMSA's Second Quarter 2022 Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the presentation, there will be a question-and-answer session.

During this conference call, management may discuss certain forward-looking statements concerning FEMSA's future performance and should be considered as good faith estimates made by the Company. These forward-looking statements reflect management's expectations and are based upon currently available data. Actual results are subject to future events and uncertainties, which can materially impact the Company's actual performance.

At this time, I will turn the conference over to Mr. Juan Fonseca, Director of Investor Relations. Please go ahead, sir.

Juan Fonseca

Good morning, everyone. Welcome to FEMSA's second quarter 2022 results conference call. Today, we are joined by Daniel Rodriguez, our CEO; and Eugenio Garza, our CFO. As always, we also have Jorge Collazo on the line, who leads Coke FEMSA's Investor Relations team.

Today, the plan is to have Daniel start with some higher-level strategic considerations, followed by an overview of performance trends during the quarter, and then Eugenio will provide more granular comments on the quarter results. After their remarks, we will open the call to Q&A, as we always do.

Daniel, please go ahead.

Daniel Rodriguez

Thank you, Juan, and hello to everyone on the call. I hope you and your families are doing well. As you already saw in our results released earlier today, FEMSA delivered another strong set of numbers for the second quarter, reflecting sound plans and solid execution at every business unit and continuing with the good momentum that began at the end of last year and has accelerated through the first half of this year.

Most of our operations continue to show strong growth and profitability trends during the second quarter as consumers continue to resume recovery behaviors while making modest adjustments required by the shape of our new normality across our different markets.

Before diving into our recent performance trends, let me share some reflection on higher-level considerations. We have established three clear strategic priorities for the coming years. First, deliver accelerated growth. This means not only increasing our growth trajectory in both revenues and earnings, but also ensuring that this growth is reflected in shareholder value.