This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEIA20DW_L.jpg
The dynamic, which it described as a “temporary mismatch” between a decline in realized steel prices and high costs, should also affect Ternium’s steel margin in the fourth quarter, leading to a lower adjusted EBITDA when compared to the previous three months, the firm said.
“Ternium anticipates this dynamic to mostly reverse during the first quarter of 2023,” it added in a media release.
The company, which operates mainly across Latin America, reported revenues of $4.13 billion in the three months to September, a 10% drop from the same period last year.
Steel shipments hit 2.97 million tonnes in the third quarter, down 3% from a year ago but roughly stable on a sequential basis.
In Mexico, shipments increased slightly from the previous quarter as the local auto industry made progress in dealing with its supply chain hurdles, even though remaining below its production capacity, the steelmaker said.
