Grupo Herdez First Quarter 2024 earnings release

Sample article from our Food & Beverage

MEXICO CITY , April 18, 2024 (press release) –

Grupo Herdez, S.A.B. de C.V. (“Grupo Herdez” or the “Company”) (MSE: HERDEZ) today announced results for the first quarter ended March 31, 2024.

“We begin 2024 with a significant expansion in our margins driven by lower costs of key raw materials. In the coming months, we will reinvest part of these benefits in the market,.”, said Héctor Hernández-Pons Torres, Chairman and Chief Executive Officer of Grupo Herdez.

 

1Q2024

%

1Q2023

%

% cambio

Net Sales

8,886 100 8,632 100 2.9

Gross Profit

3,500 39.4 3,138 36.4 11.5

EBIT

1,249 14.1 1,046 12.1 19.4

Consolidated Net Income

840 9.5 797 9.2 5.4

EBITDA

1,561 17.6 1,316 15.2 18.6

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