July 14, 2014 12:26 PM ET

Food Products

Company Overview of Gruma Corporation

Company Overview

Gruma Corporation manufactures and distributes tortillas and related products in the United States and Europe. It offers corn and wheat tortillas and tortilla chips; and varieties of corn flour used to produce various types of 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. It has production plants in Edinburg, Plainview, and Amarillo, Texas; Evansville, Indiana; Henderson, Kentucky; Madera, California; and Coventry, United Kingdom. Gruma Corporation operates a...

1159 Cottonwood Lane

Suite 200

Irving, TX 75038

United States

Founded in 1977

Key Executives for Gruma Corporation

Chief Executive Officer and President
Age: 60
Chief Financial Officer
Age: 53
President of Latin American Operations and Member of the Executive Board
Age: 64
President of Monaca
Age: 66
President of Gruma Centro América
Age: 45
Compensation as of Fiscal Year 2014.

Gruma Corporation Key Developments

Gruma Corporation Reports Earnings and Operating Results for the First Quarter Ended March 31, 2014

Gruma Corporation reported earnings and operating results for the first quarter ended March 31, 2014. For the quarter, the company reported net sales MXN 7,030 million against MXN 6,964 million a year ago. Operating income was MXN 657 million against MXN 525 million a year ago. EBITDA was MXN 908 million against MXN 776 million a year ago. Net sales rose 1%, resulting from the positive effect of the change in the sales mix toward higher price per unit products and segments; lower allowances in connection with ongoing strategic efforts to better manage allowance trade spending; and the change in the sales mix away from corn, as sales of corn in Europe, a low price product segment, declined significantly. These positive effects were partially offset by price reductions at the corn flour business in connection with lower corn costs. The company also reported sales volume was 402 metric tons against 404 metric tons a year ago.

Gruma Corporation Announces Earnings and Operating Results for the Fourth Quarter and Year Ended December 31, 2013

Gruma Corporation announced earnings and operating results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net sales MXN 6,876 million against MXN 6,770 million a year ago. Operating income was MXN 569 million against MXN 435 million a year ago. EBITDA was MXN 700 million against MXN 612 million a year ago. For the year, the company reported net sales MXN 28,330 million against MXN 26,771 million a year ago. Operating income was MXN 2,249 million against MXN 1,399 million a year ago. EBITDA was MXN 2,770 million against MXN 2,106 million a year ago. The company also reported operating results for the fourth quarter and year ended December 31, 2013. For the quarter, the company’s sales volume was 407 metric tons against 405 metric tons a year ago. For the year, the company’s sales volume was 1,651 metric tons against 1,596 metric tons a year ago.

Gruma Corporation Reports Operating and Earnings Results for the Second Quarter Ended June 30, 2013

Gruma Corporation reported operating and earnings results for the second quarter ended June 30, 2013. For the quarter, the company's sales volume rose 9% to 432,000 metric tons driven by extraordinary sales of corn/grits at the European operations and, to a lesser extent, by the U.S. operations, which grew 2%. For the quarter, the company's net sales increased 9% to MXN 7,341 million, resulting from the aforementioned sales volume growth. The positive effect of price increases and the change in the sales mix toward wheat tortillas at the U.S. operations was offset by the effect of corn sales volume at the European operations, which is priced significantly lower than the rest of Gruma Corporation's product portfolio. Operating income rose 72% to MXN 563 million and operating margin increased to 7.7% from 4.9%.

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