Orbia Advance Corporation, S.A.B. De C.V. Reports Earnings Results for the Third Quarter Ended September 30, 2020
October 28, 2020 at 04:54 pm EDT
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Orbia Advance Corporation, S.A.B. De C.V. Announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was USD 1,638.738 million compared to USD 1,746.875 million a year ago. Operating income was USD 221.953 million compared to USD 245.193 million a year ago. Net income was USD 73.935 million compared to USD 76.488 million a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to USD 0.05 a year ago. For the nine months, sales was USD 4,677.479 million compared to USD 5,351.460 million a year ago. Operating income was USD 519.907 million compared to USD 668.068 million a year ago. Net income was USD 128.881 million compared to USD 208.395 million a year ago. Basic earnings per share from continuing operations was USD 0.11 compared to USD 0.14 a year ago.
Orbia Advance Corporation SAB de CV, formerly Mexichem SAB de CV, is a Mexico-based company engaged in the industrial sector. The Companyâs activities are divided into five business groups: Precision Agriculture, Building & Infrastructure, Fluor, Data Communication and Polymer Solutions. The Precision Agriculture business includes Netafim brand, which develops irrigation systems and related services, as well as offers technology for farming digitalization. The Building & Infrastructure business offers pipes for multiple building applications through Wavin brand. The Fluor business operates Koura brand, which manufactures fluorine-based materials used in such industries as healthcare, construction and transportation. The Data Communication business is responsible for production and installation of communication and power cables through Dura-Line brand. The Polymer Solutions business includes vestolit and alphagary brand names, which provides plastic resins and other compounds.
ORBIA ADVANCE CORPORATION, S.A.B. DE C.V. 
