Iochpe-Maxion S.A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 07:14 pm EDT
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Iochpe-Maxion S.A. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net income was BRL 59.36 million compared to BRL 190.49 million a year ago. Basic earnings per share from continuing operations was BRL 0.3925 compared to BRL 1.25432 a year ago. Diluted earnings per share from continuing operations was BRL 0.3925 compared to BRL 1.25432 a year ago.
For the six months, net income was BRL 43.02 million compared to BRL 350.69 million a year ago. Basic earnings per share from continuing operations was BRL 0.28459 compared to BRL 2.30641 a year ago. Diluted earnings per share from continuing operations was BRL 0.28459 compared to BRL 2.30641 a year ago.
Iochpe-Maxion S.A. is engaged in the production of automotive wheels. The Company is a producer of automotive structural components in the Americas, and a producer of railway equipment in Brazil. Its operations are focused on the automotive segment, and divided into the wheels and structural component segments. The Company operates through three divisions: Maxion Wheels, Maxion Structural Components and AmstedMaxion. At Maxion Wheels, the Company produces and sells a range of steel wheels for light and commercial vehicles, and agricultural machinery and aluminum wheels for light vehicles. At Maxion Structural Components, it produces side rails, cross members and full frames for commercial vehicles and structural components for light vehicles. At AmstedMaxion (a joint venture), the Company produces freight cars, railway wheels and castings, as well as industrial castings. The Company's and its subsidiaries' operations are carried out in over 30 units located in Brazil and abroad.
IOCHPE-MAXION S.A. 
