Grupo Herdez, S.A.B. de C.V. Provides Earnings Guidance for the Full Year of 2020 and 2021
October 23, 2020 at 12:00 pm EDT
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Grupo Herdez, S.A.B. de C.V. provided earnings guidance for the full year of 2020 and 2021. Full year top line growth will stay at the mid single-digit rate while consolidated EBIT and EBITDA should be flattish versus 2019.
Even though guidance for 2021 is too early, the company feels optimistic by improved portfolio, innovation, the consumption environment, productivity changes at Frozen post pandemic and a strong balance sheet.
Grupo Herdez SAB de CV is a Mexico-based company engaged in the food processing sector. The Company's activities are divided into two business segments: Food and Frozen. The Food division focuses on the manufacture and distribution of canned and packed food products in Mexico and the United States. Its offer includes burritos, canned vegetables, guacamole, home-style salsa, honey, jam, ketchup, mayonnaise, mole, mustard, organic food, pasta, spices, tea, tomato puree and tuna, among others. It sells products through a number of brand names, such as Aires de Campo, Barilla, Bufalo, Chi-Chi's, Del Fuerte, Don Miguel, Dona Maria, Embasa, Herdez, La Victoria, McCormick, Wholly Guacamole and Yemina. In addition, it has distribution agreements in Mexico for GoGoSqueez, Kikkoman, Ocean Spray, Reynolds and Truvia products. The Frozen division is responsible for the manufacture and distribution of frozen yogurts and ice creams under the Nutrisa and Helados Nestle brand names.
GRUPO HERDEZ, S.A.B. DE C.V. 
