Grupo Herdez, S.A.B. de C.V. (GUZOF) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to the Grupo ERDE's third quarter 2024 earnings conference call. Before we begin, I would like to remind you that this call is being recorded and that the information discussed today may include forward-looking statements regarding the company's financial and operating performance. All projections are subject to risks and uncertainties, and actual results may differ materially. Please refer to the detailed note in the company's press release regarding forward-looking statements. If you require operator assistance, please press star then zero. At this time, I would like to turn the conference over to Andrea Amalzurutia, Head of Finance and Sustainability. Ms. Amalzurutia, please go ahead. Thank you, Drew. Good morning, everyone. Thank you for joining us on today's call. As we anticipated in our previous conference call, Our third quarter figures were challenged by difficult comps in preserves. We saw continued momentum in our export segment, but faced unexpected weather-related disruptions in Impulse and disappointing performance in Megamex. Starting with the good news, our export segment truly shone this quarter. Driven by the strong performance of mayonnaise in supermarkets and expansion into new clubs in regions like the Bay Area, and South California, we saw a 24.1% increase in dollar sales. This growth was further fueled by a favorable exchange rate and the successful introduction of our two-pound jog salsa in the US market, which contributed significantly to our sales volume increase. On the domestic front, it was a more challenging quarter. Severe weather events, including hurricanes and flooding, significantly impacted our impulse segment, particularly Elados, Mesle. We estimate these disruptions led to roughly 40 million in...