trending Market Intelligence /marketintelligence/en/news-insights/trending/dpVnK-cjVQ0ectvHntxVEw2 content esgSubNav
In This List

Fomento Economico Mexicano profit beats consensus by 228.9% in Q3

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix


Fomento Economico Mexicano profit beats consensus by 228.9% in Q3

Fomento Economico Mexicano SA said its normalized net income for the third quarter came to 6.64 Mexican pesos per share, compared with the S&P Capital IQ consensus estimate of 2.02 pesos per share.

EPS rose 412.4% year over year from 1.30 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 23.74 billion pesos, an increase of 412.4% from 4.63 billion pesos in the year-earlier period.

The normalized profit margin rose to 20.7% from 4.6% in the year-earlier period.

Total revenue increased 14.3% year over year to 114.65 billion pesos from 100.32 billion pesos, and total operating expenses declined 16.2% from the prior-year period to 77.10 billion pesos from 92.04 billion pesos.

Reported net income grew 385.0% from the prior-year period to 32.45 billion pesos, or 9.07 pesos per share, from 6.69 billion pesos, or 1.87 pesos per share.

As of Oct. 26, US$1 was equivalent to 19.07 Mexican pesos.