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Stock impact report

GRUPO SIMEC ANNOUNCES RESULTS OF OPERATIONS FOR THE FIRST QUARTER, OF 2024, ENDED MARCH 31, 2024

Grupo Simec, S.A.B. de C.V. American Depositary Shares (SIM) 
NASDAQ:AMEX Investor Relations: gsimec.com.mx/index.php?lang=en
Company Research Source: PR Newswire
GUADALAJARA, Mexico, April 25, 2024 /PRNewswire/ -- Grupo Simec, S.A.B. de C.V. (NYSE: SIM) ("Simec") announced today its results of operations for the three-month period ended March 31, 2024.Comparative first quarter of 2024 vs. first quarter of 2023Net SalesThe net sales of the company decreased derived from a less sales price. Sales passed from Ps. 12,825 million in the first quarter of 2023 to Ps. 7,885 million in the same period of 2024. Shipments of steel finished goods decreased 21% from 604 thousand tons in the first quarter of 2023 compared to 479 thousand tons in the same period of 2024. Total sales outside of Mexico in the first quarter of 2024 decreased 29% to reach Ps. 3,694 million compared to Ps. 5,181 million in the same period of 2023. The Mexican sales decreased 45% from Ps. 7,644 million in the first quarter of 2023 to Ps. 4,191 million in the same period of 2024. The decrease in sales can be explained, from mainly due to a lower volume of tons shipped and the avera Show less Read more
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