Guadalajara – October 29, 2026 -- Grupo Simec (NYSE: SIM; BMV: SIMEC-B) lifted nine-month net income 428% to Ps. 4,028 million from Ps. 763 million a year earlier, driven by a swing in exchange results rather than operations. Operating income was almost flat at Ps. 3,800 million, and third-quarter gross margin narrowed to 21%.
Shipments rise 14% while average prices slip 4%
Net sales for the nine months ended September 30, 2026 grew 10% to Ps. 24,569 million from Ps. 22,320 million. Shipments of finished steel products reached 1.597 million tons, up from 1.400 million tons. Sales in Mexico rose 11% to Ps. 13,981 million, while sales outside Mexico gained 9% to Ps. 10,588 million.
Operating income holds at Ps. 3,800 million as margin narrows to 15%
Cost of sales rose 10% to Ps. 18,636 million on higher shipped volume, staying at 76% of net sales. Gross profit increased to Ps. 5,933 million from Ps. 5,427 million, a steady 24% margin. Selling, general and administrative expenses climbed 9% to Ps. 2,219 million.
Other net income fell to Ps. 86 million from Ps. 393 million. Operating income edged up from Ps. 3,784 million to Ps. 3,800 million, and operating margin slipped to 15% from 17%. EBITDA rose 3% to Ps. 4,724 million from Ps. 4,594 million.
Exchange gain of Ps. 280 million replaces Ps. 3,050 million loss
Comprehensive financial income was Ps. 923 million, against a net expense of Ps. 2,229 million in the prior-year period. Simec booked a net exchange profit of Ps. 280 million versus a net exchange loss of Ps. 3,050 million. Income tax expense decreased to Ps. 697 million from Ps. 793 million.
Third-quarter gross margin falls to 21% from 25% in the second quarter
Third-quarter net sales rose to Ps. 8,383 million from Ps. 8,154 million in the second quarter, with volume up 7% to 551 thousand tons from 516 thousand. Sales outside Mexico grew 16% to Ps. 3,863 million, while sales in Mexico dropped 6% to Ps. 4,520 million. Prices of finished products decreased 4% quarter on quarter.
Cost of sales reached Ps. 6,622 million, or 79% of sales versus 75% in the second quarter, and average cost per ton increased 1%. Gross profit fell 14% to Ps. 1,761 million. Operating income declined to Ps. 1,038 million from Ps. 1,298 million, and operating margin dropped to 12% from 16%.
EBITDA stood at Ps. 1,370 million in the third quarter against Ps. 1,600 million in the second. Net income nonetheless rose to Ps. 1,710 million from Ps. 611 million, as a second-quarter exchange loss of Ps. 579 million turned into a third-quarter exchange profit of Ps. 645 million.
Year-on-year third-quarter sales climb 12% on 10% higher volume
Third-quarter net sales increased 12% from Ps. 7,485 million in the same quarter of 2025. Tons sold rose to 551 thousand from 499 thousand, and the average sales price gained 1%. Sales outside Mexico jumped 22% to Ps. 3,863 million from Ps. 3,178 million, while Mexican sales rose 5% to Ps. 4,520 million from Ps. 4,307 million.
Cost of sales grew faster than revenue, up 16% to Ps. 6,622 million from Ps. 5,726 million. It represented 79% of sales versus 77% a year earlier, with the average cost of steel products up 5%.