Ternium Q1 Profit Up, Steel Shipments Rise - Quick Facts

(RTTNews) - Steel maker Ternium S.A. (TX) said first-quarter equity holders' net income increased to $150.0 million from $129.3 million in the previous year. Earnings per ADS improved to $0.76 from $0.66.

Two analysts polled by Thomson Reuters expected earnings of $0.77 per share. Analysts' estimates typically exclude special items.

Net sales rose to $2.149 billion from $2.136 billion in the prior year, mainly as a result of higher steel products net sales in Mexico, partially offset by lower steel product net sales in the Southern Region and Other Markets. Analysts estimated revenues of $2.16 billion.

Steel shipments increased to 2,335,000 tons from 2,241,000 tons in the prior year. Iron ore shipments were 884,000 tons, compared to 1,101,000 tons in the prior year.

Ternium expects a slightly lower operating income in the second quarter of 2014 compared to the first quarter, mainly as a result of higher raw material and purchased slabs costs being partially offset by the increase in shipments.