Grupo Simec, S.A.B. de C.V. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 28, 2022 at 10:19 am EDT
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Grupo Simec, S.A.B. de C.V. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was MXN 13,432.96 million compared to MXN 14,122.35 million a year ago. Net income was MXN 1,939.52 million compared to MXN 3,312.73 million a year ago. Basic earnings per share from continuing operations was MXN 11.7 compared to MXN 19.98 a year ago. Diluted earnings per share from continuing operations was MXN 11.7 compared to MXN 19.98 a year ago.
For the nine months, sales was MXN 44,011.87 million compared to MXN 42,735.84 million a year ago. Net income was MXN 8,037.1 million compared to MXN 8,290.22 million a year ago. Basic earnings per share from continuing operations was MXN 48.45 compared to MXN 49.98 a year ago. Diluted earnings per share from continuing operations was MXN 48.45 compared to MXN 49.98 a year ago.
Grupo Simec SAB de CV is a Mexico-based company primarily engaged in producing, processing and distributing special steels and structural steel sections. The Company identifies its operating segments by regions: Mexico and the United States of America. The Firm's Mexican segment includes the Mexicali, Guadalajara, Tlaxcala and San Luis Potosi plants. The United States segment includes seven plants, six of which are located in the states of Ohio, Indiana and New York. The segments manufacture and sell steel products destined mainly for the construction and automotive industries. The Company, through its subsidiaries, is also present in Brazil and the Netherlands.
GRUPO SIMEC, S.A.B. DE C.V. 
