This poultry producer just posted its second quarter results. Its net income was $1.58 per share and revenue came in at $815.9 million.
Industrias Bachoco, S.A.B. de C.V. (IBA)
From Positive Patterns
Industrias Bachoco, S.A.B. de C.V. (IBA) has put in an incredibly strong performance, considering all the negative noise around it. Now, I ask you – do you think our trade with Mexico will be permanently damaged? I think not; that’s just a silly thought—it’s short-term noise! Yet people don’t want to own this stock because of the NAFTA problems. Long-term, all will be fine. This is all NOISE.
Right now, this (wonderful) growth stock is selling for 10 times earnings! IBA is net/debt free; boasts strong free cash flow; and the family that started the company 40 years ago still runs it (efficiently!) today.
The company doesn’t sell stock and it doesn’t make any noise; it just gets it done. I will raise my buy suggestion up to $60. This is a stock you want to buy NOW—right now—and it should be a fine wealth builder.
Bob Howard, Positive Patterns, P.O. Box 310, Turners, MO 65765, 417-887-4486, July 18, 2018