Grupo Simec, S.A.B. de C.V. released its results of operations for the nine-month period ended September 30, 2026, via a press release dated October 28, 2026, disclosing a sharp rise in net income driven by a reversal in foreign exchange results.

Key Highlights

  • Net sales rose 10%: from Ps. 22,320 million in the first nine months of 2025 to Ps. 24,569 million in the same period of 2026, according to the filing.
  • Net income surged 428%: from Ps. 763 million in the first nine months of 2025 to Ps. 4,028 million in the same period of 2026.
  • Steel shipments increased 14%: to 1 million 597 thousand tons in the first nine months of 2026 from 1 million 400 thousand tons in the same period of 2025.
  • EBITDA grew 3%: from Ps. 4,594 million in the nine-month period ended September 30, 2025, to Ps. 4,724 million in the same period of 2026.
  • Average sales price declined 4%: compared with the first nine months of 2025, partially offsetting the volume-driven revenue gain.
  • Operating income was nearly flat: rising from Ps. 3,784 million to Ps. 3,800 million year-over-year, with operating margin declining from 17% to 15%.

Grupo Simec's Nine-Month 2026 Financial Results: Revenue Growth and Exchange-Rate Swing Drive Income Gains

Grupo Simec (NYSE:SIM) reported that net sales for the first nine months of 2026 reached Ps. 24,569 million, a 10% increase from Ps. 22,320 million in the same period of 2025, according to the filing. The company attributed this gain to a 14% rise in shipments of finished steel products, partially offset by a 4% lower average sales price. Sales outside Mexico increased 9% to Ps. 10,588 million, while domestic Mexico sales rose 11% to Ps. 13,981 million.

Cost of sales increased 10% to Ps. 18,636 million, consistent with the higher shipment volume, and cost of sales as a percentage of net sales remained at 76% in both periods. Gross profit rose to Ps. 5,933 million from Ps. 5,427 million, with the gross margin holding at 24% in both periods. Selling, general and administrative expenses increased 9% to Ps. 2,219 million, also representing 9% of net sales in both periods. Operating income edged up to Ps. 3,800 million from Ps. 3,784 million, though operating margin narrowed from 17% to 15%, the filing disclosed.

The most significant driver of net income growth, according to the filing, was a reversal in comprehensive financial results. The company recorded comprehensive financial income of Ps. 923 million in the first nine months of 2026 compared with a net expense of Ps. 2,229 million in the same period of 2025. This swing reflected a net exchange profit of Ps. 280 million in 2026 versus a net exchange loss of Ps. 3,050 million in 2025. As a result, net income attributable to controlling interest rose 428% to Ps. 4,028 million. The filing noted that as of September 30, 2026, total consolidated debt consisted of U.S. $302,000 of 8 7/8% medium-term notes due 1998, with accrued interest of U.S. $891 thousand dollars or Ps. 16.1 million.

What Was Disclosed

Grupo Simec disclosed nine-month and quarterly operating results for the period ended September 30, 2026, covering net sales, cost of sales, gross profit, operating income, EBITDA, comprehensive financial results, income taxes, net income, and liquidity details.