The Brazilian steel and iron ore producer Usiminas posted a Q2 2026 net profit equivalent to $84.621 million, 52.2 percent less than in the previous quarter.
The decline reflects a negative financial result and the comparison with the positive impact of deferred taxes during the previous quarter, not repeated in the second quarter, despite the improved operational performance, the company said.
Net sales revenues increased by 4.4 percent to $1.211 billion, the cost of the products sold increased by 3.1 percent to $1.052 billion, gross profit increased by 13.8 percent to $159.4 million, while the operational profit increased by 55.1 percent to $114.6 million.
On a volumetric basis, sales of steel products declined by 2 percent to 989,000 metric tons (mt), while iron ore sales increased by 27 percent to 2.469 million mt.
When compared with Q2 2025, net sales revenues declined by 7 percent, production costs declined by 13 percent, gross profit increased by 64 percent, operational profit increased by 334 percent, and net profit increased by 236 percent.
Usiminas published its results in Brazilian Real (BRL), converted here at the rate of BRL 5.06 per US dollar.
