Iochpe-Maxion S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 06:34 pm EST
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Iochpe-Maxion S.A. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was BRL 4.78 million compared to net income of BRL 69.39 million a year ago. Basic loss per share from continuing operations was BRL 0.03113 compared to basic earnings per share from continuing operations of BRL 0.46047 a year ago. Diluted loss per share from continuing operations was BRL 0.03113 compared to diluted earnings per share from continuing operations of BRL 0.46047 a year ago.
For the nine months, net income was BRL 38.24 million compared to BRL 420.08 million a year ago. Basic earnings per share from continuing operations was BRL 0.25346 compared to BRL 2.76688 a year ago. Diluted earnings per share from continuing operations was BRL 0.25346 compared to BRL 2.76688 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. 
