July 24, 2016 12:51 PM ET

Food Products

Company Overview of Gruma Corporation

Company Overview

Gruma Corporation produces and distributes tortillas and corn flour in the United States and Europe. It offers corn and wheat tortillas and tortilla chips. The company also distributes complementary base products such as sauces and dips. It serves institutional clients, including fast food chains, casual dining, wholesalers, and supermarkets. The company was founded in 1977 and is based in Irving, Texas with production plants in Edinburg, Plainview, and Amarillo, Texas; Evansville, Indiana; Henderson, Kentucky; Madera, California; and Coventry, United Kingdom. Gruma Corporation operates as a subsidiary of Gruma S.A.B. de CV.

1159 Cottonwood Lane

Suite 200

Irving, TX 75038

United States

Founded in 1977

Phone:

972-232-5000

Fax:

972-232-5176

Key Executives for Gruma Corporation

Chief Executive Officer
Chief Executive Officer of Gruma Venezuela
Age: 68
Chief Operating Officer of Gruma´s Mexican Operations and Member of the Executive Board
Age: 52
Chief Corporate Officer, Senior Corporate Controller, Member of the Executive Board and Director
Age: 66
Chief Procurement Officer
Age: 66
Compensation as of Fiscal Year 2016.

Gruma Corporation Key Developments

Gruma Corporation Reports Earnings and Operating Results for the Third Quarter Ended September 30, 2015

Gruma Corporation reported earnings and operating results for the third quarter ended September 30, 2015. For the quarter, the company reported net sales grew 3% to MXN 9,909 million. Net sales rose at a lower rate than sales volume principally because of the depreciation of European currencies and, to a lesser extent, lower corn flour prices following price reductions implemented in October 2014. Operating income surged 24% to MXN 1,126 million and operating margin rose to 11.4% from 9.4%, which came from the U.S. operations, in particular the tortilla business. EBITDA increased 18% to MXN 1,435 million. For the quarter, the company reported sales volume rose 6% to 441,000 metric tons. The volume increase was driven by both the U.S. and European operations.

Gruma Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Gruma Corporation reported earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net sales of MXN 8,980 million compared to MXN 8,600 million a year ago. Operating income was MXN 1,023 million compared to MXN 792 million a year ago. EBITDA was MXN 1,312 million compared to MXN 1,089 million a year ago. Net sales rose at a lower rate than sales volume principally because of the devaluation of the euro. For the six months, the company reported net sales of MXN 17,612 million compared to MXN 16,964 million a year ago. Operating income was MXN 1,877 million compared to MXN 1,574 million a year ago. EBITDA was MXN 2,441 million compared to MXN 2,169 million a year ago.

Gruma Corporation Announces Earnings and Production Results for the First Quarter Ended March 2015

Gruma Corporation announced earnings and production results for the first quarter ended March 2015. For the quarter, the company reported net sales of MXN 8,402 million against MXN 8,142 million a year ago. Operating income was MXN 831 million against MXN 761 million a year ago. The improvement came from the U.S. tortilla operations, which was partially offset by the depreciation of the euro, especially in absolute terms. EBITDA was MXN 1,099 million against MXN 1,052 million a year ago. Net sales grew at a lower rate than sales volume principally because of price reductions at the U.S. corn flour operations, effective last October 2015. Sales volume increased 4% to 425,000 metric tons. The volume increase was driven by the U.S. operations.

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