Ternium S.A. (TX: Quote) posted first quarter profit attributable to equity holders of $159.6 million versus $204.7 million last year. Earnings per ADS rose to $0.81 from $0.53 in the same quarter a year ago.
On average, five analysts polled by Thomson Reuters expected the company to report earnings of $0.88 per share. Analysts' estimates typically exclude special items.
Net sales were up year-over-year to $2.18 billion. Analysts estimated revenues of $2.21 billion.
Ternium expects slightly higher operating income in the second quarter relative to its operating income in the first quarter 2012, mainly due to an increase in shipments, reflecting a gradual recovery of economic activity in the Americas, particularly in North America.
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by RTT Staff Writer
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