- Shareholders Approve all Resolutions on the Agenda of Ternium's Annual General Meeting
May 12, 2026
LUXEMBOURG, LU / ACCESS Newswire / May 12, 2026 / Ternium S.A. (NYSE:TX) announced that its annual general meeting of shareholders held on May 12, 2026 approved all resolutions on its agenda.
Among other resolutions adopted, the shareholders approved the consolidated financial statements and unconsolidated annual accounts for the year ended December 31, 2025, and the proposed annual dividend of $2.20 per ADS ($0.22 per share). The annual dividend includes the interim dividend of $0.90 per ADS ($0.09 per share) paid in November 2025. A net dividend of $1.30 per ADS ($0.13 per share) will be paid on May 15, 2026, to all shareholders of record as of May 14, 2026.
The annual general meeting resolved to maintain the number of directors at eight and approved the re-election of Mr. Roberto Bonatti, Mr. Vincent Robert Gilles Decalf, Ms. Gioia María Ghezzi, Ms. Lorenza Martínez Trigueros, Ms. Alicia Lucía Móndolo, Mr. Daniel Agustin Novegil, Mr. Gianfelice Mario Rocca and Mr. Paolo Rocca to the Board of Directors. All board members will hold office until the meeting that will be convened to decide on the 2026 accounts. The meeting also appointed PricewaterhouseCoopers Assurance, Société coopérative, as Ternium's independent auditors for the fiscal year ending December 31, 2026.
The board of directors subsequently re-appointed Mr. Paolo Rocca as its chairman, Mr. Daniel Agustín Novegil as vice-chairman and Mr. Máximo Vedoya as Ternium's chief executive officer. The board of directors also confirmed and re-appointed Mr. Vincent Robert Gilles Decalf, Ms. Gioia Ghezzi and Ms. Lorenza Martinez Trigueros as members of Ternium's audit committee, with Mr. Decalf to continue to chair the committee. All three members of the audit committee qualify as independent directors under the Company's articles of association.
For a summary of the resolutions adopted at the meeting, please see the report on Form 6-K submitted to the U.S. Securities and Exchange Commission, available at www.sec.gov.
Forward Looking Statements
Some of the statements contained in this press release are "forward-looking statements". Forward-looking statements are based on management's current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to gross domestic product, related market demand, global production capacity, tariffs, cyclicality in the industries that purchase steel products and other factors beyond Ternium's control.
Story Continues
About Ternium
Ternium is a leading steel producer in the Americas, providing advanced steel products to a wide range of manufacturing industries and the construction sector. We invest in low carbon emissions steelmaking technologies to support the energy transition and the mobility of the future. We also support the development of our communities, especially through educational programs in Latin America. More information about Ternium is available at www.ternium.com.
Sebastián Martí
Ternium - Investor Relations
+1 (866) 890 0443
+54 (11) 4018 8389
www.ternium.com
SOURCE: Ternium S.A.
View the original press release on ACCESS Newswire
View Comments
- Assessing Ternium (NYSE:TX) Valuation After Strong Recent Share Price Momentum
May 7, 2026
Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide.
How Ternium (NYSE:TX) Has Been Trading Recently
Ternium (NYSE:TX) has caught investor attention after a recent run in the stock, with shares last closing at $48.42. The move comes alongside positive one day, week and month returns.
Those returns, plus gains over the past 3 months, year to date and past year, are prompting investors to reassess how the company’s size, earnings profile and valuation might fit into a diversified portfolio.
See our latest analysis for Ternium.
The recent 9.77% 1 day share price return and 21.96% 30 day share price return sit alongside a 23.74% year to date share price return and 82.20% 1 year total shareholder return, pointing to momentum that has built over both shorter and longer horizons.
If you are comparing Ternium with other opportunities in related areas, this can be a good moment to scan the broader materials and infrastructure space through 8 top copper producer stocks
With Ternium showing recent share price strength, a value score of 5 and an estimated 40.07% intrinsic discount, the key question is whether the stock still looks undervalued or whether the market is already pricing in future growth.
Most Popular Narrative: 11.4% Overvalued
The most followed narrative currently puts Ternium's fair value at $43.46, which sits below the last close of $48.42, framing the recent share price strength against a more cautious valuation anchor built on detailed earnings and margin assumptions.
Substantial ongoing investment in the Pesqueria Industrial Center in Mexico is set to increase capacity by 1.5 million tons annually, with new cold rolling and galvanized lines starting ramp-up from late 2025 onward, positioning Ternium to capitalize on potential long-term demand growth from nearshoring and infrastructure projects, which could boost future top-line growth and operational leverage.
Read the complete narrative.
Want to see how that new capacity, planned margin uplift and future earnings path all feed into a single fair value number? The core of this narrative is a detailed build of revenue growth, profitability and the multiple investors might be willing to pay on those future earnings.
Result: Fair Value of $43.46 (OVERVALUED)
Have a read of the narrative in full and understand what's behind the forecasts.
However, there are still clear risks, including heavy capital spending during the US$4b investment cycle and exposure to currency swings in Mexico, Brazil and Argentina.
Story Continues
Find out about the key risks to this Ternium narrative.
Another Take On Value
While the consensus narrative suggests Ternium looks 11.4% overvalued against a $43.46 fair value, the current P/E of 16.6x tells a different story when compared with the US Metals and Mining industry at 23.2x and a fair ratio of 21.7x.
That gap implies the market is either applying a clear discount to Ternium or has not yet moved its valuation closer to the fair ratio. Which side of that argument do you think aligns best with your own assumptions?
See what the numbers say about this price — find out in our valuation breakdown.NYSE:TX P/E Ratio as at May 2026
Next Steps
With mixed signals on value and plenty of debate around the outlook, it helps to look past the headline metrics and test the assumptions yourself. To weigh up both the potential upside and the key concerns, take a closer look at the 4 key rewards and 1 important warning sign
Looking for more investment ideas?
Once you have formed a view on Ternium, do not stop there. Broaden your watchlist with stocks that offer different types of potential opportunities.
Target potential mispricings by scanning 44 high quality undervalued stocks that pair stronger fundamentals with attractive entry points. Build your income stream by reviewing 12 dividend fortresses that combine higher yields with a focus on resilience. Prioritize resilience first by checking 74 resilient stocks with low risk scores that score well on financial strength and risk controls.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include TX.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
View Comments
- Compared to Estimates, Ternium (TX) Q1 Earnings: A Look at Key Metrics
May 6, 2026
For the quarter ended March 2026, Ternium S.A. (TX) reported revenue of $3.93 billion, representing no change compared to the same period last year. EPS came in at $1.09, compared to $0.55 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $4.01 billion, representing a surprise of -1.93%. The company delivered an EPS surprise of +26.74%, with the consensus EPS estimate being $0.86.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Ternium performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Steel Segment - Shipments - Total Steel Products: 3,709.00 K Ton compared to the 3,887.63 K Ton average estimate based on two analysts. Steel Segment - Shipments - Mexico: 1,983.00 K Ton versus the two-analyst average estimate of 2,011.83 K Ton. Steel Segment - Shipments - Brazil: 945.00 K Ton versus 997.79 K Ton estimated by two analysts on average. Steel Segment - Shipments - Southern Region: 460.00 K Ton versus the two-analyst average estimate of 525.81 K Ton. Steel Segment - Revenue per Ton - Total Steel Products: $1,008.00 compared to the $1,008.87 average estimate based on two analysts. Steel Segment- Net Sales- Total Steel Segment: $3.81 billion compared to the $3.96 billion average estimate based on two analysts. Steel Segment- Net Sales- Other Products: $75 million versus the two-analyst average estimate of $75.27 million. Steel Segment- Net Sales- Total Steel Products: $3.74 billion versus the two-analyst average estimate of $3.88 billion. Steel Segment- Net Sales- Southern Region: $481 million versus $550.79 million estimated by two analysts on average. Steel Segment- Net Sales- Mexico: $1.99 billion compared to the $2 billion average estimate based on two analysts. Steel Segment- Net Sales- Other Markets: $355 million versus $380.14 million estimated by two analysts on average. Steel Segment- Net Sales- Brazil: $919 million compared to the $953.3 million average estimate based on two analysts.
View all Key Company Metrics for Ternium here>>>
Shares of Ternium have returned +7.7% over the past month versus the Zacks S&P 500 composite's +9.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Story Continues
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ternium S.A. (TX) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
View Comments
- Ternium Announces First Quarter of 2026 Results
May 5, 2026
LUXEMBOURG / ACCESS Newswire / May 5, 2026 / Ternium S.A. (NYSE:TX) today announced its results for the first quarter ended March 31, 2026.
The financial information contained in this press release is based on Ternium S.A.'s consolidated condensed interim financial statements prepared in accordance with IAS 34 "Interim financial reporting" (IFRS). Interim financial figures are unaudited. The financial and operational information is presented in U.S. Dollars ($) and metric tons, except otherwise indicated. This press release includes certain non-IFRS alternative performance measures such as Adjusted EBITDA, Cash Operating Income, Free Cash Flow and Net Cash. The reconciliation of these figures to the most directly comparable IFRS measures is included in Exhibit I.
First Quarter of 2026 Highlights
Note: Figures compared to fourth quarter of 2025.
Summary of First Quarter of 2026
Note: Each American Depositary Share, or ADS, represents 10 shares of Ternium's common stock. Results are based on a weighted average number of shares of common stock outstanding (net of treasury shares) of 1,963,076,776.
First Quarter of 2026 Highlights
Ternium's Adjusted EBITDA increased sequentially by 21% in the first quarter of 2026, to $479 million. This improvement was primarily driven by higher realized steel prices across the company's main steel markets, partially offset by higher raw material and purchased slab costs. Sales volumes in Mexico gathered pace, supported by better fundamentals in the commercial market. In Brazil, the steel business climate has improved, following the trade measures introduced by the government to promote a balanced competitive environment. Meanwhile, demand in the Southern Region eased, reflecting both a slowdown in Argentina's economic activity and seasonal consumption patterns.
Ternium's net income in the first quarter of 2026 reached $372 million. This result includes deferred tax gains amounting to $132 million and a $48 million loss stemming from the quarterly update of the value of a provision for ongoing litigation related to the acquisition of a participation in Usiminas in 2012.
Ternium invested $406 million in the first quarter of 2026, primarily for the expansion of its industrial center in Pesquería, Mexico. The company completed the downstream expansion of the facility and advanced as planned with the ramp-up of a new cold-rolling mill and a new galvanizing line, while also progressing with its upstream expansion program. In this regard, Ternium expects to commence operations in the new steel shop by the end of the year. In addition, the company finalized the previously announced acquisition of 153.1 million ordinary shares of Usiminas from Nippon Steel Corporation and Mitsubishi Corporation for a total consideration of $315 million.
Story Continues
Cash flow from operating activities amounted to $217 million after a $233 million increase in working capital, mostly related to higher trade receivables. Furthermore, Ternium received $150 million from Techgen, a power producer in which it holds a non-controlling interest, following the full repayment and cancellation of its loan.
The company's net cash position stood at $327 million at the end of March 2026, compared to $712 million at the end of December 2025.
Outlook
Ternium expects Adjusted EBITDA to increase in the second quarter of 2026 compared to the first quarter, driven by higher shipments and improved margins. Shipments are expected to rise primarily in Mexico and Argentina. Higher revenue per ton, especially in Mexico and Brazil, is anticipated to support the increase in Adjusted EBITDA margin, while higher costs per ton across Ternium's markets should partially offset these gains.
In Mexico, the company expects continued growth in commercial market shipments during the second quarter of 2026, as a significant destocking in the value chain throughout 2025 is giving way to a normalization of apparent demand. In addition, several infrastructure projects are beginning to progress and could contribute additional demand in the coming quarters.
In Brazil, steel consumption remains broadly stable, with resilience in the automotive sector offset by weaker demand in agribusiness-related industries. The government has taken initial measures to defend the local industry against unfair trade, including antidumping duties on cold-rolled and coated products. As these measures gain traction and currently elevated inventory levels of imported material normalize, Usiminas' shipments should begin to improve.
In Argentina, after an initial recovery in 2025, demand in 2026 is growing unevenly. Mining, energy, and agriculture continue to perform well, while construction is improving slightly but remains soft. Metal-mechanical and home appliance sectors are lagging, affected by weak domestic consumption and increased competition from imports.
Analysis of First Quarter of 2026 Results
Consolidated Net Sales
Adjusted EBITDA
Adjusted EBITDA in the first quarter of 2026 equals Net Income adjusted to exclude:
Depreciation and amortization; Income tax results; Net financial results; Equity in earnings of non-consolidated companies; and Provision for ongoing litigation related to the acquisition of a participation in Usiminas.
And adjusted to include the proportional EBITDA in Unigal (70% participation).
Adjusted EBITDA margin equals adjusted EBITDA divided by net sales.
For more information see Exhibit I - Alternative performance measures - "Adjusted EBITDA".
Steel Segment First Quarter of 2026 Results
The Steel Segment's net sales increased sequentially in the period mainly as a result of better realized steel prices across Ternium's main steel markets.
On a year-over-year basis, net sales were almost unchanged, as higher realized steel prices were offset by a decline in shipments.
In Mexico, steel shipments increased, with a significant level of activity in the commercial market as a result of more effective defenses against unfairly traded imports, balanced inventories in the value chain and a seasonal rebound in activity.
In Brazil, Usiminas has prioritized profitability over shipment volumes, amid a more volatile scenario for energy and transportation costs. Consequently, steel shipments in the first quarter of 2026 recorded a modest sequential decline.
In the Southern Region, demand for steel products has moderated, reflecting slower activity in Argentina's industrial sector. Additionally, steel shipments fell sequentially in the first quarter of 2026 consistent with seasonally weaker activity.
In Other Markets, shipments in the first quarter of 2026 remained relatively unchanged sequentially, while they declined year-over-year mainly reflecting lower sales in the US market.
The Steel Segment's Cash Operating Income increased by $68 million sequentially in the first quarter of 2026, mainly reflecting an increase in realized steel prices that was partially offset by higher raw material and purchased slab costs.
Year-over-year, the Steel Segment's Cash Operating Income increased by $134 million in the quarter, as higher margins were partially offset by lower shipments. The margin expansion was supported by higher realized steel prices and lower unit costs. The year-over-year cost reduction reflected both lower raw material and purchased slab prices, as well as the positive impact of the company's continuous efforts to improve efficiency.
Note: For a reconciliation of the Steel Segment's Cash Operating Income and Cash Operating Income per Ton and Margin to the most directly comparable IFRS measures, see Exhibit I - Alternative performance measures - "Cash Operating Income - Steel Segment".
Mining Segment First Quarter of 2026 Results
Net sales in the Mining Segment declined sequentially in the first quarter of 2026 driven by lower sales volumes, amid unusually intense rains affecting operations in Brazil, partially offset by higher revenue per ton.
On a year-over-year basis, net sales posted a slight increase, as higher revenue per ton was largely offset by reduced shipment volumes.
The Mining Segment's Cash Operating Income increased sequentially and year-over-year in the first quarter of 2026, supported by higher realized iron ore prices. This was partially offset by lower sales volumes and higher unit costs.
Note: For a reconciliation of the Mining Segment's Cash Operating Income and Cash Operating Income per Ton and Margin to the most directly comparable IFRS measures, see Exhibit I - Alternative performance measures - "Cash Operating Income - Mining Segment".
Net Financial Results
Net financial results were a gain of $22 million for the first quarter of 2026, primarily driven by the positive performance of Ternium's financial investments and foreign exchange results. Foreign exchange gains were mainly related to the positive effect of the appreciation of the Brazilian Real and the Mexican Peso against the US Dollar on net long local currency positions at Ternium Brasil and Ternium Mexico, respectively.
Income Tax Results
Ternium's subsidiaries use the U.S. dollar as their functional currency; as a result, fluctuations between their local currencies and the U.S. dollar lead to the recognition of deferred tax results.
The company recorded a deferred tax gain of $132 million in the first quarter of 2026. This was mainly driven by a reduction in the deferred tax position of Ternium Argentina, reflecting the impact of high local inflation and the appreciation of the Argentine Peso against the US Dollar, as well as a decrease in the deferred tax position of Usiminas, primarily due to the appreciation of the Brazilian Real against the US Dollar.
Net Result
In the first quarter of 2026, Ternium's net income amounted to $372 million, including a deferred tax gain of $132 million and a loss of $48 million in connection with the provision for ongoing litigation concerning the acquisition of a participation in Usiminas, on account of interest accruals and the appreciation of the Brazilian Real.
Equity Holder's Net Income was $213 million in the period, or $1.09 per ADS, mainly after accounting for the participation of a 62.5% non-controlling interest in Usiminas and a 37.4% non-controlling interest in Ternium Argentina.
Cash Flow and Liquidity
In the first quarter of 2026, cash from operations amounted to $217 million. Working capital increased by $233 million reflecting a $174 million net increase in trade and other receivables and a $70 million increase in inventories, partially offset by a $11 million net increase in trade payables and other liabilities.
Capital expenditures totaled $406 million, primarily reflecting the progress made in the construction of the new facilities at Ternium's industrial center in Pesquería, Mexico. The company completed the facilities' downstream expansion, with start-up of a new cold rolling mill and a new galvanizing facility, and advanced the construction of a new steel shop.
Alongside the development of its capital expenditure program, in the first quarter of 2026 Ternium acquired 153.1 million ordinary shares of Usiminas for a total consideration of $315 million. In addition, the company received $150 million from Techgen in connection with the full repayment and cancellation of its loan. Techgen is a joint venture company in which Ternium participates together with its affiliates Tenaris and Tecpetrol. It supplies electricity to the company's facilities through a 900-megawatt power plant located in Pesquería, Mexico.
The company's Net Cash position decreased to $327 million at the end of March 2026, compared to Net Cash position of $712 million as of the end of December 2025.
Conference Call and Webcast
Ternium will host a conference call on May 6, 2026, at 8:00am ET in which management will discuss first quarter of 2026 results. A webcast link will be available in the Investor Center section of the company's website at www.ternium.com.
Forward Looking Statements
Some of the statements contained in this press release are "forward-looking statements". Forward-looking statements are based on management's current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to gross domestic product, related market demand, global production capacity, tariffs, cyclicality in the industries that purchase steel products, and other factors beyond Ternium's control.
About Ternium
Ternium is a leading steel producer in the Americas, providing advanced steel products to a wide range of manufacturing industries and the construction sector. We invest in low carbon emissions steelmaking technologies to support the energy transition and the mobility of the future. We also support the development of our communities, especially through educational programs in Latin America. More information about Ternium is available at www.ternium.com.
Income Statement
$ MILLION 1Q26 4Q25 1Q25 Net sales 3,934 3,775 3,933 Cost of sales (3,247 ) (3,171 ) (3,402 ) Gross profit 687 604 531 Selling, general and administrative expenses (390 ) (406 ) (396 ) Other operating expense, net (7 ) (39 ) (3 ) Operating income 290 159 132 Financial expense (50 ) (50 ) (54 ) Financial income 64 56 68 Other financial income (expense), net 9 (29 ) 49 Equity in earnings of non-consolidated companies 14 20 16 Provision for ongoing litigation related to the acquisition of a participation in Usiminas (48 ) (1 ) (45 ) Profit before income tax results 279 155 165 Income tax 93 17 (23 ) Profit for the period 372 171 142 Attributable to: Owners of the parent 213 122 67 Non-controlling interest 159 49 75 Profit for the period 372 171 142
Statement of Financial Position
$ MILLION MARCH 31, 2026 DECEMBER 31, 2025 Property, plant and equipment, net 10,709 10,406 Intangible assets, net 1,007 1,002 Investments in non-consolidated companies 590 563 Other investments Deferred tax assets 1,216 1,039 Receivables, net 778 804 Trade receivables, net 5 4 Total non-current assets 14,306 13,819 Receivables, net 784 985 Derivative financial instruments 25 43 Inventories, net 4,173 4,094 Trade receivables, net 1,804 1,536 Other investments 1,525 1,600 Cash and cash equivalents 1,617 1,531 Total current assets 9,928 9,788 Non-current assets classified as held for sale 8 8 Total assets 24,242 23,615
Statement of Financial Position (cont.)
$ MILLION MARCH 31, 2026 DECEMBER 31, 2025 Capital and reserves attributable to the owners of the parent 12,197 11,944 Non-controlling interest 4,309 4,203 Total equity 16,506 16,148 Provisions 615 586 Deferred tax liabilities 25 24 Non current tax liabilities 15 13 Other liabilities 961 956 Trade payables 1 1 Lease liabilities 146 138 Borrowings 2,199 1,815 Total non-current liabilities 3,963 3,533 Provision for ongoing litigation related to the acquisition of a participation in Usiminas 575 528 Current income tax liabilities 48 39 Other liabilities 403 640 Trade payables 2,078 2,073 Derivative financial instruments 3 1 Lease liabilities 50 49 Borrowings 615 604 Total current liabilities 3,773 3,934 Total liabilities 7,736 7,467 Total equity and liabilities 24,242 23,615
Statement of Cash Flows
$ MILLION 1Q26 4Q25 1Q25 Result for the period 372 171 142 Adjustments for: Depreciation and amortization 181 210 184 Income tax accruals less payments (130 ) (42 ) (50 ) Equity in earnings of non-consolidated companies (14 ) (20 ) (16 ) Provision for ongoing litigation related to the acquisition of a participation in Usiminas 48 1 45 Interest accruals less payments / receipts, net (7 ) (8 ) 9 Changes in provisions 1 (6 ) 3 Changes in working capital (233 ) 135 (55 ) Net foreign exchange results and others 68 (56 ) Impairment of Las Encinas' mining assets - 19 - Net cash provided by operating activities 217 528 207 Capital expenditures and advances to suppliers for PP&E (406 ) (463 ) (518 ) Decrease (increase) in other investments 88 (48 ) 243 Proceeds from the sale of property, plant & equipment 1 1 Dividends received from non-consolidated companies 1 28 1 Recovery of loans from non-consolidated companies 150 - - Acquisition of additional participation in Usiminas (315 ) - - Acquisition of business - purchase consideration (24 ) - - Acquisition of business - cash acquired 4 - - Repayment of additional paid in capital - (5 ) - Net cash used in investing activities (502 ) (488 ) (273 ) Dividends paid in cash to company's shareholders - (177 ) - Dividends paid in cash to non-controlling interest (6 ) (7 ) - Finance lease payments (14 ) (14 ) (20 ) Proceeds from borrowings 406 461 573 Repayments of borrowings (39 ) (78 ) (385 ) Net cash provided by financing activities 346 186 167 Increase in cash and cash equivalents 61 226 101
Exhibit I - Alternative Performance Measures
These non-IFRS measures should not be considered in isolation of, or as a substitute for, measures of performance prepared in accordance with IFRS. These non-IFRS measures do not have a standardized meaning under IFRS and, therefore, may not correspond to similar non-IFRS financial measures reported by other companies.
Adjusted EBITDA
$ MILLION 1Q26 4Q25 1Q25 Net income 372 171 142 Adjusted to exclude: Depreciation and amortization 181 210 184 Income tax (93 ) (17 ) 23 Net financial results (22 ) 24 (63 ) Equity in earnings of non-consolidated companies (14 ) (20 ) (16 ) Provision for ongoing litigation related to the acquisition of a participation in Usiminas 48 1 45 Impairment of Las Encinas' mining assets - 19 - Adjusted to include: Proportional EBITDA in Unigal (70%participation) 8 7 6 Adjusted EBITDA 479 395 322 Divided by: net sales 3,934 3,775 3,933 Adjusted EBITDA Margin (%) 12 % 10 % 8 %
Exhibit I - Alternative Performance Measures (cont.)
Cash Operating Income - Steel Segment
$ MILLION 1Q26 4Q25 1Q25 Operating Income - Management View (Note "Segment Information" to Ternium's Financial Statements as of the corresponding dates) 272 202 244 Plus/minus differences in cost of sales (IFRS) (18 ) (18 ) (116 ) Excluding depreciation and amortization 148 150 142 Including proportional EBITDA in Unigal(70% participation) 8 7 6 Cash Operating Income 410 342 276 Divided by: steel shipments (thousand tons) 3,709 3,727 3,857 Cash Operating Income per Ton - Steel 111 92 72 Divided by: steel net sales 3,814 3,624 3,801 Cash Operating Income Margin - Steel (%) 11 % 9 % 7 %
Cash Operating Income - Mining Segment
$ MILLION 1Q26 4Q25 1Q25 Operating Result - Management View (Note "Segment Information" to Ternium's Financial Statements as of the corresponding dates) (25) (66) (2) Plus/minus differences in cost of sales (IFRS) 53 35 17 Excluding depreciation and amortization 33 60 42 Impairment of Las Encinas' mining assets - 19 - Cash Operating Income 61 48 57 Divided by: mining shipments (thousand tons) 2,826 3,361 3,059 Cash Operating Income per Ton - Mining 22 14 18 Divided by: mining net sales 284 309 280 Cash Operating Income Margin - Mining (%) 22 % 16 % 20 %
Exhibit I - Alternative Performance Measures (cont.)
Free Cash Flow
$ MILLION 1Q26 4Q25 1Q25 Net cash provided by operating activities 217 528 207 Less: capital expenditures and advances to suppliers for PP&E (406 ) (463 ) (518 ) Free Cash Flow (189 ) 65 (311 )
Net Cash
$ BILLION MARCH 31,
2026 DECEMBER 31, 2025 MARCH 31,
2025 Cash and cash equivalents 1.6 1.5 1.8 Plus: other investments (current and non-current) 1.5 1.6 1.9 Less: borrowings (current and non-current) (2.8 ) (2.4 ) (2.5 ) Net Cash 0.3 0.7 1.3
Note: Ternium Argentina's consolidated position of cash and cash equivalents and other investments amounted to $0.8 billion as of March 31, 2026, $0.8 billion as of December 31, 2025, and $1.1 billion as of March 31, 2025.
Sebastián Martí
Ternium - Investor Relations
+1 (866) 890 0443
+54 (11) 4018 8389
www.ternium.com
SOURCE: Ternium S.A.
View the original press release on ACCESS Newswire
View Comments
- Revision of Ternium's 2025 Dividend Proposal in Response to Global Uncertainty
Apr 15, 2026
LUXEMBOURG, LU / ACCESS Newswire / April 15, 2026 / Ternium S.A. (NYSE:TX) today announced that its Board of Directors has revised its dividend proposal for fiscal year 2025, lowering the recommended payout to $2.20 per ADS ($0.22 per share), or $432 million, from the previously announced $2.70 per ADS. The annual dividend includes the interim dividend of $0.90 per ADS ($0.09 per share), or $177 million, paid in the fourth quarter of 2025.
Although the company maintains its outlook for a sequential increase in adjusted EBITDA in the first quarter of 2026 and expects further improvements in the second quarter, the Board of Directors has determined that implementing measures to reinforce the company's balance sheet is a prudent course of action in the current environment. This decision reflects caution amid ongoing uncertainties regarding the potential impact in the global economy of the conflict in the Middle East.
If the Board of Directors' proposal is approved at the shareholders' meeting to be held on May 12, 2026, a net dividend of $1.30 per ADS ($0.13 per share), or $255 million, will be paid on May 15, 2026, with record date on May 14, 2026.
Forward Looking Statements
Some of the statements contained in this press release are "forward-looking statements". Forward-looking statements are based on management's current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to gross domestic product, related market demand, global production capacity, tariffs, cyclicality in the industries that purchase steel products and other factors beyond Ternium's control.
About Ternium
Ternium is a leading steel producer in the Americas, providing advanced steel products to a wide range of manufacturing industries and the construction sector. We invest in low carbon emissions steelmaking technologies to support the energy transition and the mobility of the future. We also support the development of our communities, especially through educational programs in Latin America. More information about Ternium is available at www.ternium.com.
Contact:
Sebastián Martí
Ternium - Investor Relations
+1 (866) 890 0443
+54 (11) 4018 8389
www.ternium.com
SOURCE: Ternium S.A.
View the original press release on ACCESS Newswire
View Comments
- Could Ternium (NYSE:TX) Offer Value After Its Recent Share Price Pullback?
Apr 1, 2026
Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE.
Wondering whether Ternium's current share price reflects its true worth, or if the market is missing something important about this steel producer. Ternium's stock last closed at US$40.15, with returns of 3.2% over 7 days, a 7.6% decline over 30 days, 2.6% year to date, 42.1% over 1 year, 28.5% over 3 years, and 48.8% over 5 years. Recent commentary around Ternium has focused on its position within the steel and materials sector, as investors weigh its exposure to global industrial demand and commodity pricing. This context helps explain why the share price has moved both up and down over shorter periods while still showing longer term returns. Ternium currently holds a valuation score of 5/6, which suggests the stock screens as undervalued on most of Simply Wall St's primary valuation checks. This sets up a closer look at how different valuation methods line up, along with a broader way of thinking about value that will come at the end of this article.
Find out why Ternium's 42.1% return over the last year is lagging behind its peers.
Approach 1: Ternium Discounted Cash Flow (DCF) Analysis
A Discounted Cash Flow, or DCF, model estimates what a company might be worth by projecting its future cash flows and discounting them back to today’s dollars. It is essentially asking what all those future $ cash flows are worth right now.
For Ternium, the model used is a 2 Stage Free Cash Flow to Equity approach. The latest twelve month free cash flow is about $525.6 million. Analyst and extrapolated projections suggest free cash flow reaching $1,002 million in 2030, with a path that includes both a projected $547.35 million outflow in 2026 and higher positive figures in later years, all expressed in $ and discounted back to today.
Putting all projected and discounted cash flows together, Simply Wall St’s DCF result points to an estimated intrinsic value of about $86.04 per share, compared with the recent share price of $40.15. That gap implies the shares screen as 53.3% undervalued on this model.
Result: UNDERVALUED
Our Discounted Cash Flow (DCF) analysis suggests Ternium is undervalued by 53.3%. Track this in your watchlist or portfolio, or discover 58 more high quality undervalued stocks.TX Discounted Cash Flow as at Apr 2026
Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Ternium.
Approach 2: Ternium Price vs Earnings
For a profitable company, the P/E ratio is a simple way to connect what you pay for each share with the earnings that support it. Investors usually accept a higher P/E when they expect stronger growth or see lower risk, and a lower P/E when growth looks more modest or the risk profile is higher.
Story Continues
Ternium currently trades on a P/E of 18.54x. That sits below the Metals and Mining industry average P/E of 21.97x and well below the peer group average of 44.07x. On the surface, that points to a lower earnings multiple than many companies in the same space.
Simply Wall St’s Fair Ratio for Ternium is 24.64x. This is a proprietary estimate of what the P/E might be given factors such as earnings growth characteristics, profit margins, industry, market cap and the company’s risk profile. Because it blends these company specific drivers rather than looking only at broad peer or industry averages, the Fair Ratio can give a more tailored view of how the current P/E stacks up.
With Ternium’s actual P/E of 18.54x below the Fair Ratio of 24.64x, the shares screen as undervalued on this earnings multiple approach.
Result: UNDERVALUEDNYSE:TX P/E Ratio as at Apr 2026
P/E ratios tell one story, but what if the real opportunity lies elsewhere? Start investing in legacies, not executives. Discover our 20 top founder-led companies.
Upgrade Your Decision Making: Choose your Ternium Narrative
Earlier it was mentioned that there is an even better way to understand valuation. On Simply Wall St's Community page you can use Narratives, which let you attach your own story about Ternium to a set of numbers by linking the business setup to a forecast for revenue, earnings and margins. This is then turned into a Fair Value that updates when new news or earnings arrive. You can compare this with the current share price to decide whether it looks attractive or stretched. For example, one investor might build an optimistic Ternium Narrative that lines up with a Fair Value closer to the higher analyst target of US$50, while another might prefer a more cautious story that anchors nearer the lower target of US$26.
For Ternium however we will make it really easy for you with previews of two leading Ternium Narratives:
🐂 Ternium Bull Case
Fair value: US$40.19 per share
Implied pricing gap vs last close: about 0.1% above US$40.15
Revenue growth assumption: 5.79% a year
Analysts see Ternium benefiting from Mexican import curbs, a tilt toward higher value flat steel and an expanded product mix tied to the Pesqueria Industrial Center. Capacity additions, a US$300 million cost reduction program and efficiency efforts are built into higher margin and earnings assumptions over time. The consensus fair value of about US$40.19 sits only slightly above the recent share price, so this narrative views the stock as broadly in line with analyst expectations.
🐻 Ternium Bear Case
Fair value: US$33.00 per share
Implied overvaluation vs last close: about 21.7% above fair value
Revenue growth assumption: 5.42% a year
This view stresses the weight of global steel overcapacity, tighter regulation and high decarbonization and capex needs on margins and free cash flow. Heavy exposure to Latin American economies, currency swings and project cost overruns are seen as adding pressure to returns, even with expansion projects in Mexico. With a fair value of about US$33, this narrative assumes the current share price builds in expectations that are too optimistic relative to these risks.
Both narratives use many of the same building blocks, yet reach different conclusions about what is already priced in. That is where your own view matters most, whether you lean closer to the optimistic case, the cautious case or a mix of both across a broader watchlist of steel and materials names.
Do you think there's more to the story for Ternium? Head over to our Community to see what others are saying!NYSE:TX 1-Year Stock Price Chart
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include TX.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
View Comments
- Ternium Files 2025 Form 20-F
Mar 31, 2026
LUXEMBOURG / ACCESS Newswire / March 31, 2026 / Ternium S.A. (NYSE:TX) announced that it has filed its annual report on Form 20-F, for the year ended December 31, 2025, with the U.S. Securities and Exchange Commission (SEC). The annual report can be downloaded from the SEC's website at www.sec.gov and from Ternium's website at www.ternium.com, in the Investors section.
Forward Looking Statements
Some of the statements contained in this press release are "forward-looking statements". Forward-looking statements are based on management's current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to gross domestic product, related market demand, global production capacity, tariffs, cyclicality in the industries that purchase steel products and other factors beyond Ternium's control.
About Ternium
Ternium is a leading steel producer in the Americas, providing advanced steel products to a wide range of manufacturing industries and the construction sector. We invest in low carbon emissions steelmaking technologies to support the energy transition and the mobility of the future. We also support the development of our communities, especially through educational programs in Latin America. More information about Ternium is available at www.ternium.com.
Contact:
SebastiánMartí
Ternium - Investor Relations
+1 (866) 890 0443
+54 (11) 4018 8389
www.ternium.com
SOURCE: Ternium S.A.
View the original press release on ACCESS Newswire
View Comments
- Commercial Metals' Q2 Earnings Miss Estimates, Sales Rise Y/Y
Mar 27, 2026
Commercial Metals Company CMC reported adjusted earnings per share (EPS) of $1.16 in second-quarter fiscal 2026 (ended Feb. 28, 2026), missing the Zacks Consensus Estimate of $1.28. Adjusted for one-time items, the company posted earnings of 31 cents per share in the prior-year quarter.
CMC’s Revenues & Margins Dip Y/Y in Q2
Net sales in the reported quarter were $2.13 billion compared with $1.75 billion in the year-ago quarter. The reported figure beat the Zacks Consensus Estimate of $1.98 billion.
The cost of goods sold in the quarter was up 13.7% year over year to $1.74 billion. The gross profit surged 76.4% year over year to $388 million during this period. The core EBITDA was $297 million in the fiscal second quarter, marking a year-over-year surge of 113.8%.
Commercial Metals Company Price, Consensus and EPS Surprise
Commercial Metals Company price-consensus-eps-surprise-chart | Commercial Metals Company Quote
Commercial Metals’ Q2 Segmental Performance
The North America Steel Group segment generated net sales of $1.61 billion in the fiscal second quarter compared with $1.38 billion in the year-ago quarter. We expected net sales of $1.44 billion in the quarter. The segment registered an adjusted EBITDA of around $269 million compared with $137 million in the year-ago quarter. Our model predicted an adjusted EBITDA of $248 million.
The Europe Steel Group segment’s revenues were $200 million, up 1% from the year-ago quarter. Our model predicted net sales of $247 million. The adjusted EBITDA was negative $1.4 million in the fiscal second quarter compared with $0.8 million in the year-ago quarter. We expected an adjusted EBITDA of $0.2 million for the quarter.
The Construction Solutions Group segment generated net sales of around $314 million in the fiscal second quarter compared with $158 million in the year-ago quarter. Our model predicted net sales of $189 million. The segment registered an adjusted EBITDA of $53 million compared with $23 million in the year-ago quarter. Our model predicted an adjusted EBITDA of $37 million.
CMC’s Q2 Cash Flow & Balance Sheet Updates
Commercial Metals reported cash and cash equivalents of $0.49 billion at the end of second-quarter fiscal 2026 compared with $1 billion at the end of fiscal 2025. The company’s long-term debt was $3.3 billion at the end of the fiscal second quarter. Cash generated from operating activities for the six months ended Feb 28, 2026, was $371 million compared with $245 million in the year-ago period.
On March 25, the company declared a quarterly dividend of 20 cents per share, marking an 11% increase from the dividend paid in February 2026. The dividend will be paid on April 15 to shareholders of record as of April 6, 2026.
Story Continues
Commercial Metals’ Q3 Outlook
CMC expects its fiscal third-quarter core EBITDA to increase sequentially due to normal seasonal improvement and strength across its North American market. North America Steel Group’s adjusted EBITDA is expected to increase modestly from the second quarter, driven by higher seasonal volumes. This will be partially offset by annual maintenance outages.
In the Construction Solutions Group segment, results are expected to nearly double compared with the second quarter of fiscal 2026. The company expects Europe Steel Group's adjusted EBITDA to rise substantially on higher seasonal volumes.
CMC Stock’s Price Performance
The company’s shares have gained 30.4% in the past year compared with the industry’s 42.8% growth.Zacks Investment Research
Image Source: Zacks Investment Research
Commercial Metals’ Zacks Rank
CMC currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
A Steel - Specialty Stock Awaiting Results
Ternium S.A. TX is expected to release first-quarter 2026 results soon.
The Zacks Consensus Estimate for Ternium’s EPS is pegged at $1.01 for the fiscal first quarter, suggesting a rise from 55 cents reported in the year-ago period. For total revenues, the Zacks Consensus Estimate is pinned at $4.23 billion, indicating a year-over-year increase of 7.4%.
Recent Peer Performance
L.B. Foster Company FSTR recorded adjusted earnings of 22 cents per share for fourth-quarter 2025. The bottom line missed the Zacks Consensus Estimate of 66 cents. The company posted a loss of 52 cents in the year ago quarter.
L.B. Foster’s revenues rose 25% year over year to $160 million in the quarter. The figure beat the consensus estimate of $158 million.
Carpenter Technology Corporation CRS reported adjusted earnings of $2.33 per share for second-quarter fiscal 2026, beating the Zacks Consensus Estimate of $2.20. It had posted adjusted earnings of $1.66 in the year-ago quarter. The upside was driven by ongoing improvements in the product mix and expanding operating efficiencies.
Carpenter Technology’s net revenues increased 7.5% year over year to $728 million in the reported quarter. The figure missed the Zacks Consensus Estimate of $729 million.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Carpenter Technology Corporation (CRS) : Free Stock Analysis Report
Ternium S.A. (TX) : Free Stock Analysis Report
Commercial Metals Company (CMC) : Free Stock Analysis Report
L.B. Foster Company (FSTR) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
View Comments
- Ternium Announces Annual General Meeting of Shareholders
Mar 20, 2026
LUXEMBOURG, LU / ACCESS Newswire / March 20, 2026 / Ternium S.A. (NYSE:TX) announced today that its board of directors convened the annual general meeting of shareholders to be held on Tuesday, May 12, 2026, at 9:00 a.m. CET at Ternium S.A.'s registered office located at 26, Boulevard Royal, 4th Floor, L-2449 Luxembourg, Grand Duchy of Luxembourg. Each holder of ADSs as of March 30, 2026, shall be entitled to instruct The Bank of New York Mellon Corporation, the depositary bank, as to the exercise of the voting rights pertaining to the shares represented by such holder's ADSs.
The following documents are available in the Investors section of our website at www.ternium.com:
Notice and Agenda for the meeting. Shareholder Meeting Brochure and Proxy Statement. 2025 Annual Report.
Copies of these documents are also available, free of charge, at Ternium S.A.'s registered office in Luxembourg, between 10:00 a.m. and 5:00 p.m. CET, beginning on March 20, 2026. In addition, shareholders registered in the share register may obtain electronic copies of such documents, free of charge, by sending an e-mail request to ir@ternium.com.
Forward Looking Statements
Some of the statements contained in this press release are "forward-looking statements". Forward-looking statements are based on management's current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to gross domestic product, related market demand, global production capacity, tariffs, cyclicality in the industries that purchase steel products and other factors beyond Ternium's control.
About Ternium
Ternium is a leading steel producer in the Americas, providing advanced steel products to a wide range of manufacturing industries and the construction sector. We invest in low carbon emissions steelmaking technologies to support the energy transition and the mobility of the future. We also support the development of our communities, specially through educational programs in Latin America. More information about Ternium is available at www.ternium.com.
SOURCE: Ternium S.A.
View the original press release on ACCESS Newswire
View Comments
- Ternium inaugurates BRL 260 million school with the presence of President Lula
Mar 11, 2026
Part of a global education network of the Techint Group, Roberto Rocca Technical School is in Santa Cruz (RJ) and has scholarships to all students
RIO DE JANEIRO, March 11, 2026 /PRNewswire/ -- President Luiz Inácio Lula da Silva participated this Friday (6) in the inauguration ceremony of the Roberto Rocca Technical School, accompanied by the president of the Techint Group, Paolo Rocca, and the CEO of Ternium, Máximo Vedoya. Built by the Ternium steel mill in Santa Cruz, Rio de Janeiro, the private and social initiative of the Techint Group offers Technical High School exclusively for young people in the region, with training in Electromechanics and Mechatronics. The facility was built with a private investment of BRL 260 million.Disclosure.
In addition to the President of the Republic, other authorities participated in the agenda, such as the Mayor of Rio de Janeiro, Eduardo Paes, the Minister of Education, Camilo Santana, and the Minister of Racial Equality, Anielle Franco. The school's construction began in 2023 and currently the facility already has 384 students in training. In 2027, with full capacity served, there will be 576 high school students. Everyone has scholarships, reinforcing the company's commitment to integrating the community with industry.
"It was very significant to receive President Lula at the inauguration of our Roberto Rocca Technical School in Santa Cruz, where we have an industrial center that employs 8,000 people and produces competitive steel for Brazil and the world. We invest in technical education because we believe in the central role of the industry in the economic and social development of the Brazil and all the countries where we operate," said the president of the Techint Group, Paolo Rocca.
President Lula spoke about the importance of private investments in education for the development of Brazil. "I want Brazilian businessmen to learn a lesson. This school is not to teach people just to work for them; it is to ensure the future of the community. Investing in education is necessary, it is not a deficit. You are investing in the future of your company, your professionals and the country," he highlighted in a message to businessmen.
The initiative of Ternium and the Techint Group allows training in key areas of the industry for young people from the neighborhoods of Santa Cruz, Paciência, Sepetiba and Itaguaí, regions among the most populous and with the lowest social development index in the state of Rio. The school has 9,000 square meters of structure, 18 laboratories, state-of-the-art equipment, and a pedagogical proposal that integrates theory and practice.
Story Continues
Ternium is one of the largest steel producers in Latin America and, together with the Techint Group, has already invested more than BRL 25 billion in Brazil.
Press Contact:
Mayara Barcellos (FSB)
mayara.barcellos@fsb.com.br
+55 21 98119-0366Disclosure.Disclosure.Cision
View original content to download multimedia:https://www.prnewswire.com/news-releases/ternium-inaugurates-brl-260-million-school-with-the-presence-of-president-lula-302711512.html
View Comments
