Carlos de Alba

Alfonso Salazar

Rafael Barcellos

Caio Ribeiro

Alex Hacking

Caio Greiner

Emerson Vieira

Rich Emmerson

Alejandro DeMatteo

Camilla Barter

Marcio Farid Filho

Timna Tanners

- Ternium reported improved Q3 2025 performance with increased **EBITDA** driven by decreasing cost per ton and strong cash generation of over **half a billion dollars** from operating activities.  **[0001342874_2213451_1]** 
- The company declared an interim dividend of **$0.90 per ADS**, maintaining the same payment level as the previous year.  **[0001342874_2213451_1]** 
- Mexico is implementing new trade policies, with proposed tariffs on steel and derivatives from non-trade agreement countries expected to rise from **25% to 35%**, and light vehicle tariffs from **20% to 50%**.  **[0001342874_2213451_1]**  Brazil faces a **33%** increase in finished steel imports in the first nine months of 2025, primarily from China, and lacks effective trade defense mechanisms.  **[0001342874_2213451_2]** 
- Ternium's CapEx for FY2025 is projected to be between **$2.5 billion and $2.6 billion**, with a decrease to **$1.9 billion** in 2026 and **$1.1 billion** in 2027.  **[0001342874_2213451_6]**  The Pesquería project's galvanized line is set to start in **December**, the PLTCM in **January**, and the DRI and EAF facility in **Q4 2026**, with a budget of **$2.7 billion**.  **[0001342874_2213451_10]** 
- The company aims to simplify its corporate structure but acknowledges the complexity and external dependencies.  **[0001342874_2213451_5]** **[0001342874_2213451_10]**  It continues to pursue an EBITDA margin goal of **$150/ton**, entering 2026 with margins around **10-11%**.  **[0001342874_2213451_12]**

Ternium Reports Improved Q3 2025 Performance, Updates on Trade Policies and CapEx Outlook

- Ternium reported increased EBITDA in Q3 2025, driven by decreasing cost per tonne, and generated over **half a billion dollars** from operating activities, while declaring an interim dividend of **$0.90 per ADS**.  **[0001342874_2213436_1]** 
- The company is advancing its **$2.7 billion** Pesquería project, with the new galvanized line starting in **December** and the PLTCM in **January**, and the DRI and EAF facility on track for **Q4 2026**.  **[0001342874_2213436_10]**  Total CapEx for **2025** is projected between **$2.5 billion and $2.6 billion**, with a decrease to **$1.9 billion** in **2026**.  **[0001342874_2213436_6]** 
- Ternium is navigating a business environment marked by U.S. tariff uncertainty, with Mexico proposing tariff increases on steel imports from non-trade agreement countries.  **[0001342874_2213436_1]**  While Mexico's apparent steel consumption is expected to be down **10%** in **2025**, a **4%** recovery is projected for **2026**.  **[0001342874_2213436_8]** 
- The company is entering **2026** with an EBITDA margin of about **10%**, with further improvement dependent on trade negotiations and cost reduction efforts.  **[0001342874_2213436_12]**

Ternium Reports Q3 2025 Performance and Updates on Investments, Trade, and Outlook

- Ternium reported a **net loss of $270 million** for Q3 2025, primarily due to a **$405 million non-cash loss** related to deferred tax assets at Usiminas and a **$32 million loss** from litigation provision; however, adjusted EBITDA increased sequentially, and operating activities generated over **half a billion dollars** in cash.  **[0001342874_2211347_1]** **[0001342874_2211347_3]** 
- For Q4 2025, the company anticipates a **slight decline in adjusted EBITDA** due to seasonal slowdowns in shipments, while adjusted EBITDA margin is expected to remain consistent.  **[0001342874_2211347_3]**  Total CapEx for 2025 is projected to be between **$2.5 billion and $2.6 billion**.  **[0001342874_2211347_7]** 
- The board declared an interim dividend of **$0.90 per ADS**, consistent with last year, resulting in a total 2025 distribution of **$2.70 per ADS** and a **7% dividend yield**.  **[0001342874_2211347_1]** **[0001342874_2211347_4]** 
- The business environment is influenced by the U.S. tariff framework and USMCA review, with Mexico proposing tariff increases on steel imports to **35%** from countries without a trade agreement to strengthen local value chains.  **[0001342874_2211347_1]** **[0001342874_2211347_10]**

Ternium Reports Q3 2025 Net Loss Amidst Strong Cash Generation and Tariff Discussions

- Ternium S.A. reported a **net loss of $(270) million** for the third quarter of 2025, or **$0.10 per ADS**, primarily due to a **$405 million non-cash charge** for a write-down of deferred tax assets at Usiminas and a **$32 million loss** from a litigation provision.  **[1342874_0001342874-25-000059_prternium3q2025v1.htm:0]** **[1342874_0001342874-25-000059_prternium3q2025v1.htm:1]** 
- Despite the net loss, **Adjusted EBITDA increased to $420 million** in Q3 2025, up 4% sequentially and 14% year-over-year, with an **Adjusted EBITDA Margin of 11%**, reflecting improved steel production costs and efficiency gains.  **[1342874_0001342874-25-000059_prternium3q2025v1.htm:0]** **[1342874_0001342874-25-000059_prternium3q2025v1.htm:1]** 
- The company announced an **interim dividend of $0.90 per ADS**, payable on November 11, 2025, bringing the total expected distributions for 2025 to **$2.70 per ADS**.  **[1342874_0001342874-25-000059_prternium3q2025v1.htm:0]** **[1342874_0001342874-25-000059_prternium3q2025v1.htm:1]** 
- Ternium's **Net Cash position decreased by $303 million** to **$715 million** as of September 30, 2025, influenced by **$711 million in capital expenditures** for the expansion of its industrial center in Pesquería, Mexico.  **[1342874_0001342874-25-000059_prternium3q2025v1.htm:1]** 
- Management anticipates a **slight decrease in Adjusted EBITDA** for the fourth quarter of 2025 due to seasonal shipment reductions, but expects the **Adjusted EBITDA Margin to remain in line** with the third quarter.  **[1342874_0001342874-25-000059_prternium3q2025v1.htm:1]**

Ternium Announces Q3 2025 Results and Interim Dividend

Ternium (TX)