Bachoco Announces First Quarter 2020 Results
Industrias Bachoco, S.A.B. de C.V. (IBA)
Last industrias bachoco, s.a.b. de c.v. earnings: 4/28 05:30 pm
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US:NYSE Investor Relations:
corporativo.bachoco.com.mx/inversionistas
Company Research
Source: PR Newswire
CELAYA, Mexico, April 28, 2020 /PRNewswire/ -- Industrias Bachoco, S.A.B. de C.V., "Bachoco" or "the Company", (NYSE: IBA; BMV: Bachoco) announced today its unaudited results for the first quarter ("1Q20") ending March 31, 2020. All figures have been prepared in accordance with International Financial Reporting Standard ("IFRS") and are presented in nominal million Mexican Pesos ("$"), except earnings per share.HIGHLIGHTS- 2020 vs. 2019Net sales increased 9.9% in 1Q20. EBITDA margin was 6.0% in 1Q20 vs 4.6% in 1Q19, our EBITDA was $947.3 million. Earnings per basic and diluted share were $3.61CEO COMMENTSMr. Rodolfo Ramos Arvizu, Chief Executive Officer of Bachoco, stated, "We ended the first quarter of the year with good results, growing in terms of volume both in Mexico and the U.S. Even when we observed a soft demand at the beginning of the year, the industry was able to get back in balance for the remaining period. As a result, we achieved an overall increase of 6.3% in volume sol
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