Ternium SA ADRTX
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Ternium SA ADRTernium Reports 65% Jump in First-Half Adjusted EBITDA to $1.2 Billion
Earnings
Ternium reported a 65% year-over-year increase in adjusted EBITDA to $1.2 billion for the first half of 2026, with the second-quarter EBITDA margin expanding to 16.5% from 12.2% in the prior quarter. Net income reached $465 million in the second quarter, driven by stronger operating performance in Mexico and Brazil, while first-half earnings per ADS nearly doubled to $2.84. The company expects capital expenditures to decline from a projected $1.6 billion in 2026 to around $1.2 billion in 2027 as the Pesquería expansion nears completion, though the new slab facility's EBITDA impact is not expected until after 2027 due to a multiyear ramp-up and certification process. Ternium ended June with a net debt position of $112 million, shifting from a net cash position of $327 million at the end of March, partly reflecting a $255 million dividend payment and a $418 million working capital buildup. Management highlighted improving market conditions in Mexico, supported by trade defense measures and restocking, while noting that Section 232 tariffs continue to weigh on industrial demand.
Ternium SA ADR