Grupo Simec Reports Decrease in 2024 Net Sales Amid Market Challenges

The latest announcement is out from Grupo Simec SA De CV ( (SIM) ).

Grupo Simec reported a decrease in net sales by 18% for the twelve-month period ending December 31, 2024, compared to the same period in 2023, attributed to reduced shipments and lower average sales prices. Despite a 168% increase in net income, the company’s operating income and EBITDA saw declines of 23% and 21% respectively, reflecting challenges in maintaining profitability amidst fluctuating market conditions.

More about Grupo Simec SA De CV

Grupo Simec, S.A.B. de C.V. is a company operating in the steel industry, primarily engaged in the production and sale of finished steel products. The company focuses on both domestic and international markets, with a significant portion of its sales occurring outside of Mexico.

YTD Price Performance: -12.02%

Average Trading Volume: 1,298

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $4.37B

See more insights into SIM stock on TipRanks’ Stock Analysis page.