Convertidora Industrial, S.A.B. de C.V. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 28, 2022 at 02:02 pm EDT
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Convertidora Industrial, S.A.B. de C.V. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was MXN 337.8 million compared to MXN 485.43 million a year ago. Net loss was MXN 19.57 million compared to net income of MXN 24.09 million a year ago. Basic loss per share from continuing operations was MXN 0.24 compared to basic earnings per share from continuing operations of MXN 0.3 a year ago. Diluted loss per share from continuing operations was MXN 0.24 compared to diluted earnings per share from continuing operations of MXN 0.3 a year ago.
For the nine months, sales was MXN 1,280.76 million compared to MXN 1,500.68 million a year ago. Net loss was MXN 11.43 million compared to net income of MXN 70.94 million a year ago. Basic loss per share from continuing operations was MXN 0.14 compared to basic earnings per share from continuing operations of MXN 0.88 a year ago. Diluted loss per share from continuing operations was MXN 0.14 compared to diluted earnings per share from continuing operations of MXN 0.88 a year ago.
Convertidora Industrial SAB de CV (Conver) is a Mexico-based company engaged in the production, distribution and sale of plastic film for food packaging and articles used for party's decorations. The Company's business is structured in four divisions: Conver Empaque Flexible, which produces plastic films, printed reels, plastic bags and pouches used in the food packaging industry; Convergram, which comprises the production and marketing of a variety of balloons under the Kaleidoscope brand; Casematic, which specializes in the production of sausage casings, and Conver Publicidad, which includes the manufacturing and sale of such advertising gadgets as balloons, clappers, wall hangings and envelopes, which are intended for the promotion of other companiesâ logos. As of December 31, 2011, the Company owned such subsidiaries as Asesoria Ejecutiva de Negocios SA de CV, GlobosInter SA de CV, Conver-Industrial SA de CV and Convergram Mexico S de RL de CV.
CONVERTIDORA INDUSTRIAL, S.A.B. DE C.V. 
