Nemak, S. A. B. de C. V. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 18, 2023 at 02:06 pm EDT
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Nemak, S. A. B. de C. V. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 1,322.83 million compared to USD 1,194.12 million a year ago. Net income was USD 19.67 million compared to USD 29.85 million a year ago. Basic earnings per share from continuing operations was USD 0.0064 compared to USD 0.0098 a year ago. Diluted earnings per share from continuing operations was USD 0.0064 compared to USD 0.0098 a year ago.
For the six months, sales was USD 2,580.07 million compared to USD 2,323.14 million a year ago. Net income was USD 4.9 million compared to USD 29.39 million a year ago. Basic earnings per share from continuing operations was USD 0.0016 compared to USD 0.0096 a year ago. Diluted earnings per share from continuing operations was USD 0.0016 compared to USD 0.0096 a year ago.
Nemak SAB De CV, formerly Tenedora Nemak SA de CV, is a Mexico-based holding company primarily engaged in the automotive industry. The Company specializes in the design, manufacture and distribution of aluminum components for powertrain and body structure applications. Its product portfolio comprises cylinder heads, engine blocks, shock towers, tank cover frames, B-pillars, transmission housings, frame rails, and cross members, among others. The Company operates manufacturing facilities in a range of countries, such as Canada, the United States, Mexico, Brazil, Spain, Germany, Poland, Russia, India and China. Furthermore, Its customers include Audi, BMW, KIA, Ford, Hyundai, Chrysler, Nissan, Volvo, Toyota, as well as Volkswagen, among others. The Company controls a number of subsidiaries, including Modellbau Schonheide GMBH, Camen International Trading Inc, Nemak Canada SA de CV and Nemak Czech Republic Sro, among others. Its parent is ALFA SAB de CV.