FMX Q3 2022 Earnings Report — Fomento Económico Mexicano, S.A.B. de C.V. Revenue & Financial Results | Market Cap Arena

Fomento Económico Mexicano, S.A.B. de C.V.FMX

Q3 2022 Earnings

Reported September 30, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2022	Q2 2022	Q3 2021	QoQ Change	YoY Change
Revenue	$9.0B	$9.7B	—	-6.8%	—
Op. Income	$815M	$899M	—	-9.4%	—
Gross Margin	37.4%	37.1%	—	0.4pp	—
Net Margin	6.8%	3.1%	—	3.7pp	—
EPS (Diluted)	$17.19	$8.41	—	104.3%	—
Free Cash Flow	-$151M	$978M	—	-115.4%	—

Revenue Flow

Item	Amount
REVENUE	$9.0B
Cost of Revenue	$5.6B
GROSS PROFIT	$3.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.6B
Other Expenses	$0
Operating Expenses	$2.6B
Cost & Expenses	$8.2B
OPERATING INCOME	$815M
Interest Income	$66M
Interest Expense	$207M
Other Income/Expenses	-$79M
INCOME BEFORE TAX	$735M
Income Tax Expense	$257M
Net Income from Continuing Ops	$479M
Net Income from Discontinued Ops	$280M
Other Adjustments	$0
NET INCOME	$615M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$615M
D&A	$452M
EBIT	$938M
EBITDA	$1.4B
EPS	$17
EPS Diluted	$17

Income Statement

Item	Amount
REVENUE	$9.0B
Cost of Revenue	$5.6B
GROSS PROFIT	$3.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.6B
Other Expenses	$0
Operating Expenses	$2.6B
Cost & Expenses	$8.2B
OPERATING INCOME	$815M
Interest Income	$66M
Interest Expense	$207M
Other Income/Expenses	-$79M
INCOME BEFORE TAX	$735M
Income Tax Expense	$257M
Net Income from Continuing Ops	$479M
Net Income from Discontinued Ops	$280M
Other Adjustments	$0
NET INCOME	$615M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$615M
D&A	$452M
EBIT	$938M
EBITDA	$1.4B
EPS	$17
EPS Diluted	$17

Cash Flow Statement

Item	Amount
Net Income	$618M
Depreciation & Amortization	$375M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$373M
Change in Working Capital	-$335M
OPERATING CASH FLOW	$284M
Capital Expenditure	-$435M
Acquisitions (Net)	$517M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$29M
NET CASH FROM INVESTING	$111M
Net Debt Issuance	-$583M
Common Stock Repurchased	$0
Common Dividends Paid	-$4M
Other Financing Activities	-$183M
NET CASH FROM FINANCING	-$771M
FREE CASH FLOW	-$151M
Net Change in Cash	-$278M

Balance Sheet

Item	Amount
Cash & Equivalents	$289M
Short-Term Investments	$0
Net Receivables	$166M
Inventory	$158M
Other Current Assets	$47M
TOTAL CURRENT ASSETS	$660M
PP&E (Net)	$521M
Goodwill	$173M
Intangible Assets	$300M
Long-Term Investments	$368M
Tax Assets	$78M
Other Non-Current Assets	$22M
TOTAL NON-CURRENT ASSETS	$1.5B
TOTAL ASSETS	$2.1B
Account Payables	$200M
Short-Term Debt	$73M
Deferred Revenue	$0
Other Current Liabilities	$130M
TOTAL CURRENT LIABILITIES	$479M
Long-Term Debt	$448M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$16M
Other Non-Current Liabilities	$65M
TOTAL NON-CURRENT LIABILITIES	$698M
TOTAL LIABILITIES	$1.2B
Common Stock	$9M
Additional Paid-In Capital	$51M
Retained Earnings	$706M
Treasury Stock	$0
Accum. Other Comp. Income	-$27M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$739M
Minority Interest	$206M
TOTAL EQUITY	$945M
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$690M
Net Debt	$401M