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Industrias Bachoco, S.A.B. de C.V. (NYSE: IBA) reported a 20.9% increase in net sales for 3Q22, reaching $24,457.8 million, driven by higher poultry prices and sales volume. EBITDA rose 35.3% to $1,525.8 million, with a margin of 6.2%. The company faced increased costs due to raw material prices, resulting in a 20.3% rise in cost of sales. Despite challenges, operating income improved to $1,131.2 million, representing a margin of 4.6%. Year-to-date net income reached $6,072.7 million, up 37.4% from 9M21.
Industrias Bachoco (NYSE: IBA) announced a voluntary tender offer from the Robinson Bours family to acquire up to 27% of its outstanding shares at a price of Ps. 81.66 each, payable in cash. This offer is available to holders in both Mexico and the U.S. and is set to expire on November 4, 2022, unless extended. Bachoco is a leading player in the poultry industry, with operations in both Mexico and the U.S., boasting over 29,000 jobs and a high credit rating. Stakeholders are encouraged to read the solicitation recommendation statement when available.
Industrias Bachoco S.A.B. de C.V. (NYSE: IBA) announced a potential voluntary tender offer for its shares, discussed by the Board of Directors. The Board believes the proposed price is fair for shareholders. Some Board members plan to participate in the offer, depending on market conditions. They noted no direct conflicts of interest, though some members abstained from the voting process to mitigate perceptions of bias. Bachoco remains a leader in the poultry industry, noted for its strong credit ratings and extensive operations in Mexico and the U.S.
Industrias Bachoco announced that its ad hoc committee met regarding a voluntary tender offer from certain shareholders to purchase outstanding shares at $81.66 Mexican pesos each. The committee, formed in April 2022, engaged FTI Capital Advisors to assess the fairness of the offer price. Following a series of meetings, FTI confirmed that the offer price is fair for shareholders. The ad hoc committee encourages shareholders to evaluate their options based on personal circumstances and available information before deciding on the potential offer.
Industrias Bachoco reported a robust performance in 2Q22 with a 26.7% increase in net sales to $26.43 billion, driven by improved pricing and volume in its poultry segment. The EBITDA margin rose to 15.9%, reflecting effective cost management despite soaring raw material prices. Operating income surged to $3.83 billion, a 14.5% margin, while net controlling interest income doubled to $2.94 billion from $1.44 billion in 2Q21. CAPEX for 1H22 was $1.91 billion, indicating investment in growth. The company ended 2Q22 with a solid net cash position of $17.90 billion.
Industrias Bachoco S.A.B. de C.V. announced a cash dividend payment of
Industrias Bachoco S.A.B. de C.V. (NYSE: IBA) has filed its Annual Report on Form 20-F for the year ending December 31, 2021, with the Securities and Exchange Commission (SEC). The report is available for download from the SEC website and Bachoco's corporate site. Shareholders can also request hard copies for free. The company cautions that the report contains forward-looking statements, which involve risks and uncertainties that may lead to actual results differing from expectations. Such risks include competition, regulatory factors, and environmental issues.
Industrias Bachoco, S.A.B. de C.V. (NYSE: IBA) reported a 25.9% increase in net sales for the first quarter of 2022, totaling $24,367 million compared to $19,358 million in 2021. However, cost of sales rose 27.1%, leading to a decrease in EBITDA margin to 14.4% from 15.1% the previous year. Earnings per share grew to $3.60 from $3.50. CEO Rodolfo Ramos cited geopolitical tensions and high corn and soybean meal prices as ongoing challenges affecting costs. The company reported a CAPEX increase of 64.7% to $915.2 million, alongside a solid net cash position of $18,122.8 million.
Industrias Bachoco (NYSE: IBA) announced a cash dividend of
Industrias Bachoco S.A.B. de C.V. (NYSE: IBA) announced that the Robinson Bours family plans to initiate a voluntary tender offer for up to 27% of Bachoco's outstanding shares. The offer price is set at $81.66 Mexican pesos per share, reflecting a 20% premium based on the average share price over the last 30 days. The tender offer will commence in both Mexico and the United States and is subject to regulatory approvals. Following the offer, shares may be delisted from the NYSE and the Mexican Stock Exchange.
