The steelmaker Ternium posted a net profit of $372 million in Q1 2026, against $142 million for Q1 2025.
Compared with the same period a year earlier, net sales remained stable at $3.934 billion, while production costs rose 6.7 percent to $3.247 billion. Gross profit increased 29.4 percent to $687 million, while operating profit climbed 120 percent to $290 million.
Tax deferrals totaling $93 million were one of the main reasons for the quarter’s net profitability.
By volume, shipments of steel products declined 3.8 percent to 3.709 million metric tons (mt), while iron ore shipments declined by 7.6 percent to 2.826 million mt.
Mexico accounted for the largest share of steel shipments in the fourth quarter, at 1.983 million mt, followed by Brazil with 919,000 mt, other South American countries with 481,000 mt, and other regions with 355,000 mt.
Controlled by the Techint group, Ternium has production facilities in Mexico, Argentina, Brazil, Colombia, Guatemala and the US.