Coca-Cola Femsa Posts Steady Top-Line Growth in 4Q; Shares Fairly Valued
We’re reiterating our longer-term outlook for Coca-Cola Femsa, which incorporates around 5% average revenue growth and operating margin in the low teens over our forecast, following the firm’s fourth-quarter results. Sales for the quarter grew 5.7% on a comparable basis and operating margin stood at 13.7%, contracting 80 basis points from the year prior, largely due to increased freight, labor, and fuel costs. We expect these cost pressures to stabilize over the long term and still expect operat...
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