Ternium earns $190.5 million in Q1 as North American sales increase
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Latin American steelmaker Ternium reported Wednesday that net income increased US$54.1 million from Q4 2011 to Q1 2012. Ternium said it expects slightly higher operating income in Q2 2012 relative to its operating income in Q1 2012, mainly due to an increase in shipments, reflecting a gradual recovery of economic activity in the Americas, particularly in North America.
Net sales in Q1 2012 were US2.2 billion, 2 percent higher than net sales in Q1 2011. Shipments of flat and long products were 2.2 million tons in Q1, relatively stable compared to shipments in the same period a year ago. Revenue per ton shipped increased 4 percent compared to Q1 2011, mainly as a result of higher prices.
Sales of flat and long products in the North America region were US$1.3 billion in in Q1, an increase of 7 percent versus the same period in 2011 mainly due to higher shipments and higher revenue per ton. Shipments in the region totaled 1.3 million tons during Q1, or 4 percent higher than in the same period in 2011.
Flat and long product sales in the South and Central America Region were US$896.9 million during Q1 2012, relatively stable versus the same period in 2011 mainly as a result of higher revenues per ton partially offset by lower shipments. Shipments in the region totaled 815,300 tons during Q1, or 6 percent lower than in Q1 2011.