Grupo Simec Stock Price, News & Analysis

On July 8, 2021, Grupo Simec reported unusual trading movements in shares identified by the ticker symbol SIM (NYSE: SIM; NYSE-MKT: SIM; Mexico: SIMECB). The company stated that it is unaware of any factors causing these movements, attributing them to market conditions. Additionally, it confirmed that board members, executive officers, or repurchase funds were not involved in these unusual trading activities.

The issuer of SIMEC shares (ticker: SIM) reported unusual movements in share operations on June 14, 2021. The company stated that they are unaware of any specific causes for these fluctuations and attribute them to market conditions. Additionally, there has been no involvement from board members, executive officers, or the repurchase fund in these movements. The report aims to clarify the situation surrounding the unusual trading activity.

Grupo Simec, S.A.B. de C.V. (NYSE-MKT:SIM) announced the filing of its Annual Report on Form 20-F with the U.S. Securities and Exchange Commission for the year ended December 31, 2020. The report includes the company’s audited financial statements, which are also accessible via their investor relations website. Grupo Simec is a leading manufacturer and distributor of SBQ and structural steel products, operating in Mexico, the U.S., and Brazil. Their steel products serve various industries, including automotive and construction.

Grupo Simec, S.A.B. de C.V. (NYSE-MKT: SIM) announced it failed to timely file its Annual Report on Form 20-F for the fiscal year ending December 31, 2020. As a result, the NYSE issued a noncompliance notice on May 18, 2021. The company cited delays in preparing financial reports due to COVID-19 impacts and plans to file the Form 20-F by May 24, 2021, although this date is uncertain. Grupo Simec has six months from May 18 to comply with NYSE requirements to maintain listing status.

Grupo Simec reports unusual trading activity in shares under the ticker SIMEC. The company states that they are unaware of any specific causes behind these movements, attributing them to general market conditions. Furthermore, there is no indication that members of the board or executive officers are involved in these unusual operations. The company aims to clarify that this situation does not stem from any internal corporate actions or decisions.

On May 10, 2021, Grupo Simec reported unusual trading activity for its shares identified by the ticker symbol SIM. The company clarified that it is unaware of any specific factors causing these movements, attributing them to market conditions. Furthermore, the organization confirmed that there is no involvement from its board members, executive officers, or repurchase funds concerning these unusual operations.

Grupo Simec reported its operational results for the year ending December 31, 2020. Net sales rose by 5% to Ps. 35,869 million driven by a 4% increase in finished steel shipments. Cost of sales decreased by 3%, leading to a 62% growth in gross profit, totaling Ps. 6,658 million. Operating income soared 123% to Ps. 5,185 million, while EBITDA surged 93% to Ps. 6,637 million. Net income reached Ps. 2,957 million compared to a loss of Ps. 1,636 million in 2019. Comprehensive financial costs improved, and liquidity remained stable.

Grupo Simec (NYSE: SIM) reported strong financial results for Q1 2021, achieving net sales of Ps. 13,355 million, a 57% increase from Ps. 8,500 million in Q1 2020. Steel shipments rose 10%, totaling 682 thousand tons. The average sales price per ton surged 43%. Gross profit soared 114% to Ps. 3,300 million, while operating income increased 132% to Ps. 2,812 million. Net income improved 38% to Ps. 2,644 million, despite a rise in cost of sales to Ps. 10,055 million. Overall, the company demonstrated robust performance amidst rising demand and prices.

Grupo Simec (NYSE: SIM) reported a 5% increase in net sales for the year ending December 31, 2020, reaching Ps. 35,957 million, driven by higher shipments and sales prices. Gross profit jumped 64% to Ps. 6,721 million, increasing its margin to 19%. Operating income surged 134%, totaling Ps. 5,462 million. However, selling, general and administrative expenses rose 11%. The company posted a net income of Ps. 4,180 million, a significant rebound from a loss of Ps. 1,636 million in 2019. Total consolidated debt remained stable at around U.S. $302,000 in both years.