Steelmaker Ternium reports 19% drop in Q2 net profit as costs grow
Reuters
Published Aug 02, 2022 04:37PM ET
Updated Aug 02, 2022 05:01PM ET
MEXICO CITY (Reuters) -Steel producer Ternium reported on Tuesday a 19% drop in its second-quarter net profit from the year-ago period, as the costs of sales and expenses grew.
The company's net profit reached $936 million.
Costs of sales hit $3.1 billion, up from the $2.4 billion in the previous year.
Ternium, which operates in Mexico, Brazil, Argentina, Colombia, the United States and Central America, posted a revenue of $4.4 billion, a 13% increase, as steel prices rose.
Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) for the three months through June climbed to $1.2 billion, down 14% from the same period a year before.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.