MEXICO CITY In the wake of announcing the closing of a baking plant in New Mexico, Grupo Bimbo SAB de CV said it is planning a restructuring of its North American businesses.
Brief comments about the restructuring were shared Feb. 19 in a call with investment analysts in connection with the release of Bimbos financial results for the fourth quarter of 2023. During the call, the company also issued initial guidance for 2024, projecting a generally positive but uneven year ahead.
Operating income of the North America business of Grupo Bimbo in 2023 was 11.18 billion pesos ($660 million), down 66% from 33.26 billion pesos in 2022. The segments operating margin fell to 5.8% from 16.2% the year before. Net sales were 192.53 billion pesos ($…
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