Grupo Simec, S.A.B. De C.V. Reports Earnings Results for the Third Quarter Ended September 30, 2020
October 28, 2020 at 01:32 pm EDT
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Grupo Simec, S.A.B. De C.V. Announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced total revenue was MXN 9,643.177 million compared to MXN 8,328.303 million a year ago. Operating income was MXN 1,567.963 million compared to MXN 906.202 million a year ago. Net income was MXN 1,003.204 million compared to MXN 817.474 million a year ago. Basic earnings per share was MXN 2.02 compared to MXN 1.64 a year ago. For the nine months, total revenue was MXN 25,738.815 million compared to MXN 26,856.356 million a year ago. Operating income was MXN 3,783.549 million compared to MXN 2,677.589 million a year ago. Net income was MXN 3,463.022 million compared to MXN 1,593.154 million a year ago. Basic earnings per share was MXN 6.96 compared to MXN 3.2 a year ago.
Grupo Simec SAB de CV is a Mexico-based company primarily engaged in producing, processing and distributing special steels and structural steel sections. The Company identifies its operating segments by regions: Mexico and the United States of America. The Firm's Mexican segment includes the Mexicali, Guadalajara, Tlaxcala and San Luis Potosi plants. The United States segment includes seven plants, six of which are located in the states of Ohio, Indiana and New York. The segments manufacture and sell steel products destined mainly for the construction and automotive industries. The Company, through its subsidiaries, is also present in Brazil and the Netherlands.
GRUPO SIMEC, S.A.B. DE C.V. 
