Grupo Simec S.a. De C.v. (SIM) has released an update.
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Grupo Simec S.A.B. de C.V. reported a decrease in net sales in Q1 2024, with a notable drop in steel shipments and average sales price per ton leading to reduced gross and operating income compared to Q1 2023. Despite lower sales and gross profit, the company did see an increase in net income to Ps. 1,456 million from Ps. 1,033 million in the previous year. This mixed financial performance indicates a challenging market environment, with the company navigating lower volumes and prices while managing to boost its net income.
For further insights into SIM stock, check out TipRanks’ Stock Analysis page.
