Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) Q3 2024 Earnings Conference Call October 25, 2024 11:00 AM ET
Company Participants
Jorge Collazo - Investor Relations Director
Ian Craig - Chief Executive Officer
Gerardo Cruz - Chief Financial Officer
Conference Call Participants
Felipe Ucros - Scotiabank
Alejandro Fuchs - Itau
Lucas Ferreira - JPMorgan
Ben Theurer - Barclays
Fernando Olvera - Bank of America
Lucas Mussi - Morgan Stanley
Antonio Hernandez - Actinver
Ulises Argote - Santander
Operator
Hello, and welcome to Coca-Cola FEMSA Third Quarter 2024 Conference Call. My name is Melissa, and I will be your coordinator for today's event. Please note, this conference is being recorded, and for the duration of the call, your lines will be on listen-only. [Operator Instructions]
I'll now turn the call over to Jorge Collazo, Investor Relations Director. Please go ahead.
Jorge Collazo
Thank you, Melissa. Good morning, everyone. Welcome to this webcast and conference call to review our third quarter 2024 results.
Joining me this morning are Ian Craig, our Chief Executive Officer, and Gerardo Cruz, our Chief Financial Officer.
As usual, after prepared remarks, we will open the call for a question-and-answer session.
Before we proceed, please allow me to remind all participants that this conference call may include forward-looking statements 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 that can materially impact the company's performance. For more details on this, please refer to the disclaimer in the earnings release that went out earlier this morning.
With that, let me turn the call over to our Chief Executive Officer to begin our presentation. Ian, please go ahead.
Ian Craig
Thank you, Jorge. Good morning, everyone. Thank you for joining us today.
Our third quarter results reflect the resilience of our business and the ability of our team to execute our strategy with local focus. Despite facing unfavorable weather in Mexico and the tough comparison base from the previous year, our revenues and operating income grew double-digits year-on-year. Strategically, we continue implementing initiatives to grow our core business and improve our service levels.
In digital, we continue progressing with Juntos+, reaching 1.2 million active users, while enhancing our user experience with the development of new features. By the end of the quarter, 56% of our customer base were digital buyers, 6 percentage points ahead of the previous quarter. We are also encouraged with the rapid adoption of Premier Juntos+, our loyalty program, which reached more than 920,000 enrolled clients, a 21% increase versus the prior quarter.