Promotora Ambiental, S.A.B. de C.V. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 07:02 pm EDT
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Promotora Ambiental, S.A.B. de C.V. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was MXN 1,683.35 million compared to MXN 1,606.89 million a year ago. Net loss was MXN 29.15 million compared to net income of MXN 49.84 million a year ago. Basic loss per share from continuing operations was MXN 0.15 compared to basic earnings per share from continuing operations of MXN 0.39 a year ago. Diluted loss per share from continuing operations was MXN 0.15 compared to diluted earnings per share from continuing operations of MXN 0.39 a year ago. Basic loss per share was MXN 0.22 compared to basic earnings per share of MXN 0.38 a year ago. Diluted loss per share was MXN 0.22 compared to diluted earnings per share of MXN 0.38 a year ago.
For the nine months, sales was MXN 5,047.33 million compared to MXN 4,604.93 million a year ago. Net income was MXN 176.54 million compared to MXN 129.95 million a year ago. Basic earnings per share from continuing operations was MXN 1.61. Diluted earnings per share from continuing operations was MXN 1.61. Basic earnings per share was MXN 1.98 compared to MXN 1.04 a year ago. Diluted earnings per share was MXN 1.98 compared to MXN 1.04 a year ago.
Promotora Ambiental SAB de CV (PASA) is a Mexico-based company engaged, through its subsidiaries, in the provision of environmental services. Its activities are structured in four areas: Waste Management Services, which includes private and residential collection, as well as operation of landfills; Water and Biotechnology, which provides such services as sewage, wastewater treatment and distribution of potable water; Oil Industry Services, which consists of the development and implementation of logistics for the management and treatment of waste resulting from well drilling activities, and Ecomar, which is mainly dedicated to the dismantling of obsolete ships. The Company owns such subsidiaries as Altya SA de CV, Gen Industrial SA de CV, Professional Recycling SA de CV, and Recolectora de Desechos y Residuos King Kong SA de CV, among others. In December, 2013, the Company acquired a 70% stake in Enviroronmental Management Group, Inc.
PROMOTORA AMBIENTAL, S.A.B. DE C.V. 
