MONTERREY, MEXICO — Lackluster consumer sentiment in the United States on the back of a potential softening of the economy dragged down earnings within the US subsidiary of Gruma SAB de CV during the first quarter.
Operating income at Gruma USA in the first quarter ended March 31 totaled $130.9 million, down 13% from $150.7 million in the same period a year ago. Net sales decreased 3% to $851.1 million from $879.7 million, while sales volume dipped 2% to 375,000 tonnes from 383,000 tonnes.
“Our subsidiary in the US focused on implementing the strategy developed during 4Q25 amidst weaker consumer sentiment arising from an uncertain economic outlook,” Gruma said. “This quarter’s results reflect both the ongoing situation in the foodservice channel and the effect of this strategy, which is expected to foster volume growth in the near future. The ‘better for you’ product line continues to deliver robust performance and show resilience and is the main driver of retail growth.”
Gruma said operating margin at Gruma USA decreased 170 basis points during the first quarter to 15.4% from 17.1%. Meanwhile, cost of sales fell 2% to $478 million, resulting mostly from lower volume sold, Gruma said.
Gruma said it spent $41 million on capital expenditures during the first quarter. During the quarter, the company allocated expenditures to maintenance and general upgrades across the company, particularly at GIMSA; operational equipment additions and replacements in the United States; additional capacity in Europe; and additional capacity in Central America.
Overall, majority net income at Gruma SAB de CV in the first quarter was $100.6 million, down 20% from $125.9 million a year ago. EBITDA was $261.9 million, down 5% from $276 million, while sales rose 5% to $1.62 billion from $1.55 billion.
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