Ternium Stock Price, News & Analysis

Ternium S.A. (NYSE:TX) reported its first-quarter results for 2023, revealing steel shipments of 3.1 million tons, a 1% increase from the prior quarter and a 4% increase year-over-year. Net sales reached $3.6 billion, up 2% sequentially, but down 16% from the same quarter last year. Operating income surged to $357 million, reflecting a 730% increase from the previous quarter, while Adjusted EBITDA was $508 million, a 68% rise quarter-over-quarter. The company reported a net income of $480 million, with earnings per ADS of $1.91. Ternium's cash position at the end of March 2023 was $3.0 billion. A dividend of approximately $624 million was approved, payable in U.S. dollar-denominated Argentine bonds. The outlook for the second quarter projects increased EBITDA driven by higher steel shipments and anticipated pricing improvements.

The global market for Electric Resistance Welded (ERW) Pipes and Tubes is projected to grow from 67.6 million tons in 2022 to 107.2 million tons by 2030, at a CAGR of 5.9%. The U.S. market is estimated at 5.8 million tons, while China is forecast to reach 35.2 million tons, growing at 6.5% CAGR. The report highlights a readjusted growth in the Line Pipes segment at 6.2% CAGR due to post-pandemic recovery. Notable geographic markets include Japan and Canada, with growth rates of 4.6% and 5.5% respectively. The report also details market drivers including the demand for high-quality line pipes amidst tough operating environments and the impact of global events such as the Russia-Ukraine conflict on supply chains.

Ternium S.A. (NYSE:TX) filed its annual report on Form 20-F for the year ended December 31, 2022, with the U.S. Securities and Exchange Commission (SEC) on March 30, 2023. The report is available for download from both the SEC and Ternium's website, along with options to request a hard copy for free. As Latin America's leading flat steel producer, Ternium operates in various regions including Mexico, Brazil, and the southern United States, providing high value-added steel products for multiple industries. The report includes forward-looking statements with associated risks such as market demand and global production capacity.

Ternium S.A. (NYSE:TX) announced the acquisition of 68.7 million ordinary shares of Usinas Siderúrgicas de Minas Gerais S.A. (Usiminas) from the NSC group for BRL10 per share. Ternium will invest approximately $111.0 million for 57.7 million shares, raising its control group participation to 51.5%. This transaction, pending approval from Brazil's antitrust authorities, will enhance governance, allowing the T/T group to nominate a majority of Usiminas' board members. Additionally, the T/T group can buy the NSC group's remaining shares after the second year. Ternium aims to improve Usiminas' competitiveness and stakeholder value.

Ternium S.A. (NYSE:TX) has announced its annual general meeting of shareholders scheduled for May 2, 2023, at 2:00 p.m. CET. Shareholders holding American Depositary Shares (ADSs) as of March 27, 2023 can direct The Bank of New York Mellon regarding their voting rights. Key documents, including the meeting agenda, proxy statement, and the 2022 Annual Report, which details consolidated financial statements and management reports, are accessible on Ternium's website. This meeting provides an opportunity for shareholders to engage with the company's future direction and strategies.

Ternium S.A. (NYSE:TX) reported its financial results for Q4 and FY 2022, revealing a 2% increase in net sales to $16.4 billion but a significant 49% decline in operating income to $2.7 billion. Steel shipments fell 1% to 11.9 million tons while iron ore shipments dropped 9% to 3.5 million tons. Adjusted EBITDA was $3.4 billion with a margin of 21%. Impairments of investments led to net income of $2.1 billion but earnings per ADS fell to $9.00. Ternium announced a dividend proposal of $0.27 per share and plans to invest $2.2 billion in new production capacity and a wind farm in Argentina. The outlook remains cautiously optimistic for 2023.

Ternium S.A. (NYSE:TX) reported its third quarter and nine months results ending September 30, 2022. Steel shipments remained stable at 2.97 million tons, while revenue decreased 7% sequentially to $4.13 billion, reflecting lower steel prices. Adjusted EBITDA plunged 45% to $679 million, a margin of 16%. Net income dropped 76% to $220 million, impacted by a $95 million financial loss and a $120 million write-down on Usiminas. However, free cash flow stood strong at $897 million, contributing to a net cash position of $1.8 billion. An interim dividend of $0.90 per ADS will be paid on November 17, 2022.

Ternium S.A. (NYSE:TX) reported its Q2 and H1 2022 results, highlighting net sales of $4.4 billion for Q2, a 3% increase from Q1, with a 13% year-over-year rise. Adjusted EBITDA for Q2 was $1.2 billion, a 1% sequential increase but a 14% decline YOY. Steel shipments remained stable at 2.96 million tons, yet down 4% YOY. The company faced a negative free cash flow of $166.1 million in Q2 and a working capital increase of $681.4 million. Ternium anticipates lower margins in Q3 due to declining steel prices and rising costs. A conference call is scheduled for August 3, 2022.