Grupo Simec, S.A.B. de C.V. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 25, 2023 at 02:04 pm EDT
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Grupo Simec, S.A.B. de C.V. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was MXN 9,454.49 million compared to MXN 13,432.96 million a year ago. Net income was MXN 1,801.65 million compared to MXN 1,939.52 million a year ago. Basic earnings per share from continuing operations was MXN 10.86 compared to MXN 11.7 a year ago. Diluted earnings per share from continuing operations was MXN 10.86 compared to MXN 11.7 a year ago.
For the nine months, sales was MXN 32,401.47 million compared to MXN 44,011.87 million a year ago. Net income was MXN 3,820.9 million compared to MXN 8,037.1 million a year ago. Basic earnings per share from continuing operations was MXN 23.04 compared to MXN 48.45 a year ago. Diluted earnings per share from continuing operations was MXN 23.04 compared to MXN 48.45 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. 
