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Grupo Simec S.A.B. de C.V. - SIM STOCK NEWS

Welcome to our dedicated news page for Grupo Simec S.A.B. de C.V. (Ticker: SIM), a resource for investors and traders seeking the latest updates and insights on Grupo Simec S.A.B. de C.V..

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Grupo Simec S.A.B. de C.V.'s stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Grupo Simec S.A.B. de C.V.'s position in the market.

News
GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE TWELVE-MONTH PERIOD ENDED DECEMBER 31, 2023 AUDITED
Rhea-AI Summary
Grupo Simec, S.A.B. de C.V. (NYSE: SIM) reported a decrease in net sales by 24% and a decrease in gross profit by 27% for the twelve-month period ended December 31, 2023 compared to the same period in 2022. Operating income decreased by 31%, and EBITDA decreased by 29%. The company's net income also decreased by 33% year-over-year. Sales outside Mexico decreased by 31%, while sales in Mexico decreased by 18%. The company's total debt remained stable. In the fourth quarter of 2023, net sales decreased by 7%, and gross profit decreased by 6% compared to the fourth quarter of 2022.
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/C O R R E C T I O N -- Grupo Simec, S.A.B. de C.V./
Rhea-AI Summary
Grupo Simec (NYSE: SIM) announces financial results for the twelve-month period ended December 31, 2023, showing a decrease in net sales, cost of sales, and gross profit compared to 2022. Operating income, EBITDA, and net income also declined. Sales outside Mexico dropped by 31%, while sales in Mexico decreased by 18%. The company experienced a 33% decrease in net income. However, other income increased by 44%. The fourth quarter of 2023 saw a decrease in net sales and gross profit, with an increase in operating expenses. EBITDA and net income also decreased compared to the previous quarter. The company faced challenges in sales and costs, impacting its financial performance.
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Grupo Simec, S.A.B. de C.V. (NYSE: SIM) SIGNIFICANT EVENT (UNUSUAL MOVEMENTS)
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Grupo Simec (NYSE: SIM) reports unusual movements in the negotiation of its series B shares, attributing them to market conditions and denying involvement of its board members or executives.
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GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE FIRST NINE MONTHS OF 2023
Rhea-AI Summary
Grupo Simec reports decrease in net sales and gross profit for the first nine months of 2023 compared to the same period in 2022. Operating income and Ebitda also decreased. Selling, general, and administrative expenses decreased. The company recorded a decrease in net income of 52%. Liquidity and capital resources remained stable. Net sales decreased in the third quarter of 2023 compared to the second quarter of the same year. Gross profit and operating income also decreased. Ebitda decreased by 15%.
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Grupo Simec to Idle Steelmaking Operations Indefinitely at Its Republic Steel Mills in Canton, Ohio and Lackawanna, N.Y.
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Grupo Simec announces the indefinite idling of its Republic Steel mills in Ohio and New York. Production will be consolidated to Grupo Simec's steel mill in Tlaxcala, Mexico, ensuring competitive pricing, increased environmental responsibility, and enhanced product quality.
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GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE FIRST SIX MONTHS OF 2023
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Grupo Simec Files Its Form 20-F For The 2022 Financial Year
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GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE FIRST QUARTER, OF 2023, ENDED MARCH 31, 2023
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GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE TWELVE-MONTH PERIOD ENDED DECEMBER 31, 2022 AUDITED.
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Grupo Simec Files a Form 20-F/A for the 2021 Financial Year
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Grupo Simec S.A.B. de C.V.

NYSE:SIM

SIM Rankings

#1224 Ranked by Market Cap
#1721 Ranked by Stock Gains
N/A Ranked by Dividends

SIM Stock Data

5.08B
74.09M
0.16%
Iron and Steel Mills and Ferroalloy Manufacturing
Manufacturing
Link
Mexico
Guadalajara

About SIM

grupo simec, s.a.b. de c.v. manufactures, processes, and distributes special bar quality (sbq) steel and steel alloys products in mexico, the united states, brazil, and canada. the company produces i-beams, channels, structural and commercial angles, hot rolled bars, flat bars, rebars, cold finished bars, and wire rods, as well as semi-finished tube rounds and other semi-finished trade products. its sbq steel products are used across a range of engineered end-user applications, including axles, hubs, and crankshafts for automobiles and light trucks, machine tools, and off-highway equipment; and structural steel products are used in the non-residential construction market and other construction applications. the company also exports its steel products to central and south america, and europe. the company was founded in 1969 and is headquartered in guadalajara, mexico. grupo simec, s.a.b. de c.v. is a subsidiary of industrias ch, s.a.b. de c.v.