Fomento Economico Mexicano S.A.B. de C.V. ( FMX - Free Report ), alias FEMSA, reported second-quarter 2023 net majority earnings per ADS of $1.00 (Ps. 1.72 per FEMSA unit). The company reported adjusted net majority earnings per ADS of $1.64, surpassing the Zacks Consensus Estimate of $1.21. Net consolidated income was Ps. 8,926 million (US$522.9 million), reflecting a 16.8% increase from Ps. 7,640 million (US$382.4 million) in the year-ago quarter. Total revenues were $11,562 million (Ps. 198,220 million), which improved 18.3% year over year in the local currency. Revenues, in U.S. dollar, surpassed the Zacks Consensus Estimate of $11,115 million. Revenue growth was driven by gains across its business units. On an organic basis, total revenues rose 9.5%. Shares of this Zacks Rank #1 (Strong Buy) company have rallied 15% in the past three months compared with the industry 's growth of 3%.