Ternium S.A.'s sales rose 17% in the third quarter of 2026 as higher steel shipments and prices lifted revenue, while weaker iron ore export economics led the company to curtail mining operations.
Mexico, Ternium's largest steel market, generated $2.437 billion in sales, up 35% from a year earlier. Shipments and revenue per ton both increased there. Ternium said it is gaining Mexican market share by replacing imported steel.
Across the steel business, shipments rose 8% from a year earlier to 4.044 million metric tons. Companywide sales reached $4.644 billion. The Mexico figures show where much of the company's revenue growth was concentrated, though its results also reflect sales in other markets.
Ternium reported $368 million in net income after a $270 million loss in the year-earlier quarter. Net income attributable to equity holders was $279 million, or $1.42 per American depositary share. The per-share figure was down from $1.75 in the second quarter.
A $116 million deferred tax loss weighed on profit, largely reflecting the Mexican peso's depreciation against the dollar. Adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, rose to $785 million from $420 million a year earlier.
Mining volumes moved in the opposite direction from steel. Shipments fell 12% from a year earlier to 2.832 million metric tons. Ternium linked lower mining volumes to curtailed operations at Mineração Usiminas, citing weaker economics for iron ore exports.
Ternium forecasts little change in fourth-quarter adjusted EBITDA, with higher margins per ton expected to counter a seasonal drop in steel shipments. The company has set Nov. 16 as the record date for a dividend scheduled for payment Nov. 17.
Ternium is scheduled to discuss the results on a call at 8 a.m. ET on Nov. 4.
