Ternium Q2 Profit Rises - Quick Facts

(RTTNews) - Steel maker Ternium S.A. (TX) said second-quarter equity holders' net income increased to $180.3 million from $134.4 million in the previous year. Earnings per ADS improved to $0.66 from $0.52.

On average, three analysts polled by Thomson Reuters expected earnings of $0.81 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter grew 3 percent to $2.20 billion from $2.13 billion in the same quarter last year, mainly as a result of higher steel products net sales in Mexico, partially offset by lower steel product net sales in the Southern Region and Other Markets. Analysts estimated revenues of $2.21 billion.

Steel shipments increased 7 percent to 2.36 million tons from the prior year, while iron ore shipments declined 22 percent to 944,000 tons from the prior year.

Looking ahead to the third quarter, Ternium said it anticipates a slightly higher operating income from the second quarter, with stable shipments and an increase in operating margin as a result of higher revenue per ton partially offset by higher cost per ton. The company also expects the healthy shipment levels to continue.