Grupo Herdez, S.A.B. de C.V. Reports Earnings Results for the First Quarter Ended March 31, 2023
April 19, 2023 at 04:38 pm EDT
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Grupo Herdez, S.A.B. de C.V. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was MXN 8,631.93 million compared to MXN 7,107.69 million a year ago. Net income was MXN 315.54 million compared to MXN 160.36 million a year ago.
Basic earnings per share from continuing operations was MXN 0.941728 compared to MXN 0.459335 a year ago. Diluted earnings per share from continuing operations was MXN 0.941728 compared to MXN 0.459335 a year ago.
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. 
