Ternium Stock (NYSE:TX), Trade Ideas

Ternium

Ternium SA is a flat steel producer operating in Mexico, Brazil, Argentina, Colombia, the southern United States, and Central America. It produces finished and semi-finished steel products and iron ore, which are sold either directly to steel manufacturers and steel processors or end-users. The company operates in two segments: Steel, Usiminas and Mining. In its steel segment, the company produces slabs, billets & round bars, hot-rolled coils & sheets, bars & stirrups, wire rods, steel pipes, and other products. The Mining segment sells iron ore as concentrates (fines) and pellets. The Usiminas segment include iron ore extraction, steel transformation, production of capital goods and logistics. The vast majority of its revenue comes from the steel segment and geographically from Mexico.

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Top stories: Nucor introduces weekly CSP for hot-rolled coil pricing, Cleveland-Cliffs supports new DOE standard, Newmont concludes $20M community fund, Citigroup and Goldman Sachs maintain positive outlooks for Newmont and Ternium.

Nucor Introduces Weekly Spot Pricing; Cleveland-Cliffs Applauds New DOE Standard; Newmont Concludes $20M Support Fund And More: Friday&#39;s Top Mining Stories

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Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade.

Borderlands Mexico: Investment Surges in Mexico as Companies Shift Supply Chains, Plan New Factories

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Commercial Metals Reports Q2 Results; Bearish Options Activity For Newmont; Atlas Lithium&#39;s New COO And More: Thursday&#39;s Top Mining Stories

Ternium S.A. Ternium S.A. American Depositary Shares (each representing ten shares, USD1.00 par value)

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Top Stories for April 5, 2024:
1. Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) introduced a weekly Consumer Spot Price (CSP) for hot-rolled coil spot pricing starting April 8, 2024, to provide customers with clear, timely information through consistent and transparent pricing. 
The CSP is based on qualitative and quantitative data and aims to minimize speculation and risk by updating every Monday, with lead times for orders between three and five weeks.
2. Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) praised the Department of Energy's new transformer efficiency standard that ensures the continued use of Grain-Oriented Electrical Steel (GOES) in its key markets. 
This decision highlights the critical role of Cleveland-Cliffs&#8217; plants in Pennsylvania and Ohio in supporting the U.S. electric grid.&nbsp;
The company, along with the UAW, successfully advocated against the original rule that favored Amorphous Metal, leading to a revised rule that secures their GOES production and anticipates increased demand and potential plant expansions.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/markets/commodities/24/04/38093101/copper-futures-prices-diverge-from-spot-prices-citi-sets-a-two-year-target">Copper Futures Prices Diverge from Spot Prices, Citi Sets A Two-Year Target</a>
3. Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) successfully concluded its $20 million Global Community Support Fund, initiated in April 2020 to aid communities affected by the pandemic, focusing on immediate relief and long-term resilience. 
Over the last 3.5 years, Newmont allocated its $20 million Fund across 420+ local partners, bolstering health, food security and economic resilience initiatives.
4. Citigroup analyst Alexander Hacking maintained Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) with a Buy and lowered his price target from $60 to $45.
5. Goldman Sachs analyst Thiago Ojea maintained Ternium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>) with a Buy and raised his price target from $49 to $54.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/news/events/24/04/38095606/are-we-entering-a-golden-age-of-sustainable-mining-experts-to-weigh-in">Are We Entering A Golden Age Of Sustainable Mining? Experts To Weigh In</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
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Nucor Introduces Weekly Spot Pricing; Cleveland-Cliffs Applauds New DOE Standard; Newmont Concludes $20M Support Fund And More: Friday's Top Mining Stories

Goldman Sachs analyst Thiago Ojea maintains Ternium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>) with a Buy and raises the price target from $49 to $54.

Goldman Sachs Maintains Buy on Ternium, Raises Price Target to $54

<div>Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Investment surges in Mexico as companies shift supply chains, plan new factories; Michigan 3PL acquires Mexican freight brokerage, signs lease for Arizona warehouse; American Woodmark (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amwd#NASDAQ">AMWD</a>) opens $45M plant in Monterrey, Mexico; and Zipline Logistics acquires supply chain provider Summit Eleven.</div>

<h2 id="h-investment-surges-in-mexico-as-companies-shift-supply-chains-plan-new-factories">Investment surges in Mexico as companies shift supply chains, plan new factories</h2>

Investment in Mexico has surged in the first three months of 2024 as more companies are looking south of the border to establish supply chain and manufacturing hubs, officials said.

From January through mid-March, Mexico has received investment commitments worth more than $31 billion, compared to $36 billion total in 2023.

<div>
"Mexico has become the greatest attraction in the world for investments" Mexican Secretary of Economy Raquel Buenrostro said during the 41st general assembly of Mexico's Business Coordinating Council (CCE) on March 19. 
</div>

The CCE is one of the country's most influential organizations representing Mexico's private sector.

Buenrostro said nearshoring continues to play a big role in attracting more investments to the country.

"[Nearshoring] is here to stay and that is not going away" Buenrostro said. "We have to see how we integrate and how we take advantage of these opportunities at this moment." <script type="text/javascript">
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Buenrostro said between that Jan. 1 and March 15 there have been 73 investment announcements by both foreign and domestic companies.

Mexico has achieved a high number of investment announcements despite the fact some predicted "2024 could be a weak year due to the electoral year, both in Mexico and the United States, but we are seeing that the pace of the arrival of investments is not going to change" Buenrostro said. 

<img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/03/29/Borderlands_Mexico_Buenrostro-1200x800.jpg" />

"Mexico has become the greatest attraction in the world for investments" said Mexican Secretary of Economy Raquel Buenrostro. (Photo: Courtesy/Mexican government)

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According to data from Mexico's Ministry of Economy, some of the most recent investments include:

— Mercado Libre (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meli#NASDAQ">MELI</a>), e-commerce: $2.4 billion

— Walmart (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmt#NYSE">WMT</a>), retail: $2.1 billion

— Yokohama Tire Corp., automotive industry: $380 million

— IKD, automotive parts supplier: $178 million <script type="text/javascript">
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— Minth Group, automotive industry: $173 million 

— Carnot Laboratories, pharmaceutical industry: $142 million.

Other companies making recent investment announcements in Mexico include Amazon (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), DHL Supply Chain, Volkswagen, Maersk, FEMSA, Ternium (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tx#NYSE">TX</a>), Solarever, ELAM-FAW and Unison Shanghai.

So far, the majority of investments in Mexico this year have originated from firms in the United States (57%), followed by Germany (17%), Argentina (14%) and China (6%), according to the Ministry of Economy.

Mexico's manufacturing sector received the majority of investments in 2024 so far at 54%, followed by media (16%), commerce (15%) and transportation (14%). 

The Mexican state of Queretaro in the center of the country has received the largest share of investments at 18%, followed by the state of Mexico at 14%, with the northern state of Nuevo Leon receiving 10%.

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The investments announced so far this year could take about two to four years to come to fruition, but could generate over 39,100 new jobs by 2028, according to Mexican authorities.

<h2 id="h-michigan-3pl-acquires-mexican-freight-brokerage-signs-lease-for-arizona-warehouse">Michigan 3PL acquires Mexican freight brokerage, signs lease for Arizona warehouse</h2>

Supply Chain Solutions LLC (SCS) has acquired Transport Accion S.A., a Mexico City-based freight forwarder and brokerage. 

"This acquisition is a strategic move that reinforces our commitment to offering comprehensive solutions in international logistics, enhancing our service offerings across the globe" SCS CEO Les Brand said in a news release. 

SCS is a global supply chain and transportation management solutions company headquartered in Grand Rapids, Michigan. 

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In a September 2023 interview with FreightWaves, Brand said SCS aims to boost its cross-border Mexico services as more firms leave China and nearshore manufacturing operations south of the border.

"China trade is slowing down and it significantly took a big portion of our revenues down because consumers are buying locally now" Brand told FreightWaves.

SCS also recently leased a 156,751-square-foot warehouse at the Sight Logistics Park in Tempe, Arizona. Sight Logistics Park is an industrial facility comprising two Class A buildings totaling 357,000 square feet. 

<h2 id="h-american-woodmark-opens-45m-plant-in-monterrey-mexico">American Woodmark opens $45M plant in Monterrey, Mexico</h2>

Winchester, Virginia-based American Woodmark Corp. has opened a 275,000-square-foot plant in Monterrey, Mexico.

The $45 million facility in Monterrey is the American Woodmark's second plant in Mexico and is expected to generate around 400 direct jobs. It will support the company's stock kitchen and bath manufacturing capacity, according to a news release. 

The company also has a manufacturing facility in Tijuana, Mexico.

American Woodmark is one of the largest cabinet manufacturers in the U.S., with more than 10,000 employees, operating 19 manufacturing and distribution facilities.

<h2 id="h-zipline-logistics-acquires-supply-chain-provider-summit-eleven">Zipline Logistics acquires supply chain provider Summit Eleven</h2>

Zipline Logistics announced it has acquired Austin, Texas-based freight brokerage and supply chain services provider Summit Eleven.

The acquisition will enable Zipline to expand its transportation solutions in the consumer packaged goods (CPG) space across Central Texas, while capitalizing on Summit Eleven's temperature control and flatbed capabilities, officials said.

"With an impressive management team and mutual commitment to exceptional service, this union allows us to expand our presence and navigate the vibrant landscape of Austin, Texas" Walter Lynch, CEO of Zipline Logistics, said in a news release. "Together, we're positioned to offer exceptional retail logistics solutions to fast-growing CPG brands."

Columbus, Ohio-based Zipline Logistics is a private equity-backed third-party logistics provider focused on the CPG space.  

The post <a href="https://www.freightwaves.com/news/investment-surges-in-mexico-as-companies-shift-supply-chains-plan-new-factories">Borderlands Mexico: Investment surges in Mexico as companies shift supply chains, plan new factories</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.

Top Stories for March 21, 2024:
1. Commercial Metals Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) reported <a href="https://www.benzinga.com/wiim/24/03/37867255/commercial-metals-shares-are-trading-higher-following-better-than-expected-q2-eps-and-sales-results">fiscal second quarter</a> financial results.
The company reported earnings of $85.8 million (73 cents per share) on $1.8 billion sales, down from the previous year&#8217;s $179.8 million ($1.51 per share) on $2 billion. 
Adjusting for a $17.2 million charge related to the Arizona 2 micro mill, earnings were $103.1 million (88 cents per share), compared to last year&#8217;s adjusted $171.3 million ($1.44 per share). 
Core EBITDA was $224.4 million with a 12.1% margin and the company saw a peak in downstream contract awards in nearly two years, indicating a strong upcoming construction season.&nbsp;
Both North America and Europe Steel Groups improved in controllable costs per ton shipped, with Europe also seeing better market balance excluding energy rebates.&nbsp;
Strategic growth continued with Arizona 2&#8217;s successful merchant bar product launch, a global micro mill steelmaking first.
2. An options analysis of Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), the largest gold miner by market capitalization, highlighted a <a href="https://www.benzinga.com/insights/options/24/03/37871993/spotlight-on-newmont-analyzing-the-surge-in-options-activity">predominantly bearish sentiment</a> from large investors, with 80% bearish and 20% bullish trades among 10 unusual trades. 
The trades include three puts valued at $126,300 and seven calls worth $355,159.&nbsp;
Based on the activity, investors are targeting a range from $30 to $40 for Newmont in the next three months.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/markets/commodities/24/03/37857275/exclusive-battery-companies-back-small-miners-for-long-term-provide-bright-spot-as-funding-ma">EXCLUSIVE: Battery Companies Back Small Miners For Long Term, Provide Bright Spot As Funding Market Crashes</a>
3. Atlas Lithium Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATLX#NASDAQ">ATLX</a>) will add Brian Talbot as Chief Operating Officer (COO) and Board member on April 1, 2024. 
Talbot has significant lithium sector experience and joins as the company prepares for its first revenues and production in Q4 2024.&nbsp;
Previously, he founded RTEK International DMCC for lithium consulting and served as COO at Sigma Lithium, leading the Grota do Cirilo project in Brazil.
4. United States Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) named its Volunteer of the Year and 12 Service Champions for 2023 under its United by Service initiative.
The company donated $15,000 on behalf of the Volunteer of the Year and $5,000 on behalf of each of the 12 champions to their chosen charities for a total of $75,000.&nbsp;
The initiative, honoring Dr. Martin Luther King Jr.&#8216;s legacy, saw employees volunteer over 20,000 hours.
5. JPMorgan analyst Rodolfo Angele maintained Ternium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>) with an Overweight rating and raised <a href="https://www.benzinga.com/quote/TX/analyst-ratings">his price target</a> from $48 to $51.50.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37868388/3-top-stock-picks-in-metals-mining-sector-to-consider-right-now">3 Top Stock Picks In Metals, Mining Sector To Consider Right Now</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
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Commercial Metals Reports Q2 Results; Bearish Options Activity For Newmont; Atlas Lithium's New COO And More: Thursday's Top Mining Stories

JP Morgan analyst Rodolfo Angele maintains Ternium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>) with a Overweight and raises the price target from $48 to $51.5.

JP Morgan Maintains Overweight on Ternium, Raises Price Target to $51.5

WIIM

Ternium shares are trading higher after the company reported better-than-expected Q4 financial results.

Ternium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>) reported its Q4 earnings results on Tuesday, February 20, 2024 at 04:15 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Ternium beat estimated earnings by 108.91%, reporting an EPS of $2.11 versus an estimate of $1.01.
Revenue was up $1.39 billion from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company missed on EPS by $0.18 which was followed by a 2.96% drop in the share price the next day.
Here's a look at Ternium's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.56</td>
<td>1.96</td>
<td>0.94</td>
<td>0.29</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.38</td>
<td>3.19</td>
<td>1.91</td>
<td>0.20</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>3.79B</td>
<td>3.88B</td>
<td>3.66B</td>
<td>3.78B</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>5.18B</td>
<td>3.87B</td>
<td>3.62B</td>
<td>3.55B</td>
</tr>
</tbody>
</table>

To track all earnings releases for Ternium <a href="https://www.benzinga.com/quote/TX/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Recap: Ternium Q4 Earnings

Ternium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>) reported quarterly earnings of $2.11 per share which beat the analyst consensus estimate of $1.01 by 108.91 percent. The company reported quarterly sales of $4.93 billion which beat the analyst consensus estimate of $4.92 billion by 0.25 percent. This is a 39.06 percent increase over sales of $3.55 billion the same period last year.

Earnings Beats

Ternium Q4 2023 Adj EPS $2.11 Beats $1.01 Estimate, Sales $4.93B Beat $4.92B Estimate

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Earnings Scheduled For February 20, 2024

Ternium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-02-20. Here's what investors need to know before the announcement.
Analysts estimate that Ternium will report an earnings per share (EPS) of $1.01. 
Ternium bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company missed EPS by $0.18, which was followed by a 2.96% drop in the share price the next day.
Here's a look at Ternium's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.56</td>
<td>1.96</td>
<td>0.94</td>
<td>0.29</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.38</td>
<td>3.19</td>
<td>1.91</td>
<td>0.20</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.96%</td>
<td>-6.92%</td>
<td>4.64%</td>
<td>4.97%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1708358515_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Ternium were trading at $37.47 as of February 15. Over the last 52-week period, shares are down 6.71%. Given that these returns are generally negative, long-term shareholders are likely unhappy going into this earnings release. 
<a href="https://www.benzinga.com/quote/TX/earnings">To track all earnings releases for Ternium visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For Ternium

Ternium shares are trading higher after B of A Securities upgraded the stock from Neutral to Buy and announced a $47 price target.

B of A Securities analyst Caio Ribeiro upgrades Ternium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>) from Neutral to Buy and announces $47 price target.

Upgrades

B of A Securities Upgrades Ternium to Buy, Announces $47 Price Target

Guidance

Global

Ternium Says In Argentina, The Company Anticipates A Sequential Decrease In Q4 Shipments Due To Seasonality And Government-Imposed Restrictions On The Importation Of Inputs Required For Production By The Company And Its Value Chain

Outlook
Ternium expects fourth quarter adjusted EBITDA to decrease compared to the third quarter, with lower adjusted EBITDA margin partially offset by slightly higher steel shipments. The company anticipates a sequential decrease in steel revenue per ton in the fourth quarter, reflecting lower realized prices in Mexico and Brazil.
In Mexico, the company expects apparent steel consumption to remain strong in the fourth quarter. Industrial sectors are showing healthy steel demand. Similarly, the commercial market continues to be very active due to low inventory levels and a recent improvement in steel benchmark prices. However, Ternium anticipates realized prices in Mexico to sequentially decrease in the fourth quarter, due primarily to the delayed impact of quarterly contract prices resetting at lower levels than in the third quarter.
In Brazil, Ternium expects shipments to remain relatively stable in most market sectors. In addition, the company anticipates realized steel prices to decrease in the fourth quarter compared to the third quarter due to a recent decrease in prices of local steel finished products.
In Argentina, the company anticipates a sequential decrease in fourth quarter shipments due to seasonality and government-imposed restrictions on the importation of inputs required for production by the company and its value chain. The steel market also continues to be highly unpredictable, as it is unclear what government measures may be taken to address the country's ongoing macroeconomic challenges when a new administration takes office in December of 2023.

Ternium Says In Mexico, Expects Apparent Steel Consumption To Remain Strong In Q4; In Brazil, Expects Shipments To Remain Relatively Stable In Most Market Sectors

Ternium Expects Q4 Adjusted EBITDA To Decrease Compared To Q3, With Lower Adjusted EBITDA Margin Partially Offset By Slightly Higher Steel Shipments

Ternium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>) reported quarterly earnings of $1.38 per share which missed the analyst consensus estimate of $1.56 by 11.54 percent. This is a 76.92 percent increase over earnings of $0.78 per share from the same period last year. The company reported quarterly sales of $5.16 billion which beat the analyst consensus estimate of $3.79 billion by 35.98 percent. This is a 25.04 percent increase over sales of $4.13 billion the same period last year.

Earnings Misses

Ternium Q3 EPS $1.38 Misses $1.56 Estimate, Sales $5.16B Beat $3.79B Estimate

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Earnings Scheduled For October 31, 2023

Ternium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>) is set to give its latest quarterly earnings report on Tuesday, 2023-10-31. Here's what investors need to know before the announcement.
Analysts estimate that Ternium will report an earnings per share (EPS) of $1.57. 
Ternium bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $1.23, which was followed by a 6.92% drop in the share price the next day.
Here's a look at Ternium's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.96</td>
<td>0.94</td>
<td>0.29</td>
<td>1.86</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>3.19</td>
<td>1.91</td>
<td>0.20</td>
<td>0.78</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-6.92%</td>
<td>4.64%</td>
<td>4.97%</td>
<td>11.7%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2023/1698681648_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Ternium were trading at $37.68 as of October 27. Over the last 52-week period, shares are up 29.99%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<a href="https://www.benzinga.com/quote/TX/earnings">To track all earnings releases for Ternium visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Ternium's Earnings: A Preview

Vertically integrated metals and mining player United States Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), best known as US Steel, is set to report its Q3 earnings after the <a href="https://www.benzinga.com/calendars/earnings">market close on Oct. 26</a>.
US Steel is currently considering its strategic options, eyeing potential synergy benefits. The company has received a $7.1 billion <a href="https://www.benzinga.com/markets/equities/23/09/34788208/cleveland-cliffs-and-u-s-steel-lock-horns-amid-tensions-in-sale-proceedings-report">cash-and-stock acquisition offer</a> from Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>).
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/33819689/us-steel-brushes-off-cleveland-cliffs-35-per-share-offer-analyst-says-deal-less-lik">U.S. Steel Brushes Off Cleveland-Cliffs&#8217; $35 Per Share Offer: Analyst Says Deal Less Likely To Close Without &#8216;Meaningful Concessions&#8217;</a>
<h2 class="wp-block-heading">US Steel Q3 Earnings: What Analysts Would Watch Closely</h2>
The company is the second largest U.S.-based steel producer, after Nucor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>), and is undergoing a rapid transformation, having invested into mini mills, EAFs (electric arc furnaces) and downstream capabilities. The EAFs produce less carbon dioxide and are thus expected to benefit from the <a href="https://www.benzinga.com/topic/inflation-reduction-act">Inflation Reduction Act</a> (IRA).
The IRA is the catalyst that could potentially boost EBITDA growth and free cash flow for the company. The Street knows that major capital investments such as these take time to translate into value, so analysts will be eager to get any hints of progress at these early stages.
X stock is trading at attractive valuations currently among competitors such as NUE, CLF, Reliance Steel &amp; Aluminum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>), Ternium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>), Carpenter Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRS#NYSE">CRS</a>), Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) and Ramaco Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/METCB#NASDAQ">METCB</a>).
Earnings Estimates: Wall Street analysts expect X to report $1.15 in EPS for the quarter and $4.39 billion in revenue, per <a href="https://www.benzinga.com/calendars/earnings?tickers=X">earnings data</a> available on Benzinga Pro. Given US Steel's <a href="https://seekingalpha.com/symbol/X/earnings/eps-surprise-summary">history of beating</a> estimates, the Street expects X to record a beat on EPS and revenue this time as well.
Over the last eight quarters, X stock has delivered six positive EPS surprises and six positive revenue surprises.
Analysts project that US Steel will report $4.12 in EPS for the fiscal year ending December 2023. Revenue estimates for that period are currently expected to come in at $17.9 billion.
Analyst Ratings &amp; Price Targets: Wall Street analyst ratings (based on a pool of 120 analyst firms over the last 3 years) currently rate the stock Neutral. <a href="https://www.benzinga.com/quote/X/analyst-ratings">Consensus price target</a> stands at $27.02 a share.
Price Action: US Steel shares have been range bound between $31.50 and $33.50 over the past month, and closed at $32.40 on Wednesday. The 52-week range is a low of $18.92 and a high of $33.65.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/10/35033728/us-steel-transformation-will-lead-to-major-value-creation-says-bullish-analyst">US Steel Transformation Will Lead To Major Value Creation, Says Bullish Analyst</a>
Photo: Unsplash

Previews

Ramaco Resources, Inc. - Class B Common Stock

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US Steel Q3 Earnings Preview: Transformation And Strategic Acquisition In The Cards

<h3>What are Value Stocks?</h3>
A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. 
<h2>Below is a list of notable value stocks in the basic materials sector:</h2>
<ol>
<li>Arch Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCH#NYSE">ARCH</a>) - P/E: 3.32</li>
<li>Ferroglobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSM#NASDAQ">GSM</a>) - P/E: 5.8</li>
<li>Buenaventura Mining Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BVN#NYSE">BVN</a>) - P/E: 3.75</li>
<li>Ternium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>) - P/E: 6.22</li>
<li>Hudson Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HDSN#NASDAQ">HDSN</a>) - P/E: 9.24</li>
</ol>
Arch Resources saw a decrease in earnings per share from 10.02 in Q1 to $4.04 now. Most recently, Ferroglobe reported earnings per share at $0.3, whereas in Q1 earnings per share sat at $0.05. The company's most recent dividend yield sits at 2.99%, which has increased by 0.88% from 2.11% last quarter. 
Buenaventura Mining Co has reported Q2 earnings per share at $-0.03, which has decreased by 112.0% compared to Q1, which was 0.25. Most recently, the company reported a dividend yield of 1.41%, which has increased by 0.69% from last quarter's yield of 0.72%.
This quarter, Ternium experienced an increase in earnings per share, which was $1.91 in Q1 and is now $3.19. Its most recent dividend yield is at 9.5%, which has increased by 2.99% from 6.51% in the previous quarter.
Hudson Technologies's earnings per share for Q2 sits at $0.41, whereas in Q1, they were at 0.33. 
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

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5 Value Stocks To Watch In The Basic Materials Sector

Ternium Q4 2023 Earnings Preview

Ternium Non-GAAP EPS of $2.11 beats by $0.79, revenue of $4.93B beats by $20M

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Ternium S.A. (TX) Q4 2023 Earnings Call Transcript

Ternium: Trading At Less Than 3 Times EBITDA

68 Graham Value Stocks, 57 Fit To Buy In March

Industrial company Worthington Enterprises' (WOR) strategic position within the steel market is paramount. As the company is set to disclose its earnings, let us analyze the stock's growth potential... Worthington Enterprises, Inc. (<a href="https://stocknews.com/stock/WOR/">WOR</a>) is set to disclose its third-quarter earnings on March 20, 2024 after market closes. Street expects the company to report an EPS and revenue of $0.69 and $323.44 million in the to-be-reported quarter. The company reported robust performance in the previous quarter and surpassed its consensus EPS and revenue estimates.
Moreover, looking back over the past three years, WOR has demonstrated impressive financial performance. During this period, its revenue has grown at a CAGR of 18%. Besides, both its EBIT and EBITDA have experienced remarkable growth, with CAGRs of 24.4% and 18.5%, respectively, underscoring the company's sustained profitability and operational efficiency over the same timeframe.
In the United States, increased construction activities in both residential and commercial sectors, along with growing investments in infrastructure, are boosting demand for steel. The expanding automotive industry, coupled with the rise in energy exploration, further contributes to market growth.
As a result, the U.S. steel market is projected to grow at a <a href="https://www.imarcgroup.com/united-states-steel-market">CAGR of 1.8%</a> by 2032. On a global scale, the market is likely to expand at a <a href="https://www.imarcgroup.com/steel-market">CAGR of 3.3%</a> until 2032.
Further, shares of WOR have gained 95.7% over the past year and 48.4% over the past six months, closing the last trading session at $62.89. Moreover, the stock is currently trading above its 50-day and 200-day moving averages of $59.36 and $47.47, indicating an uptrend.
Below are the essential elements of WOR that might have an impact on it in the foreseeable future:
Expanding Outdoor Culinary Offerings
In February, WOR announced the addition of HALO&#x2122;-branded pizza ovens, pellet grills, griddles, and accessories to its outdoor living product lineup. With this, the company intends to meet the growing consumer demand for enhancing outdoor experiences with high-quality food.
Moreover, WOR is also acquiring an 80% ownership stake in an affiliate of HALO Products Group.
Robust Financials
During the third quarter of fiscal 2024, which ended November 30, 2023, WOR generated <a href="https://www.investopedia.com/terms/n/netsales.asp">net sales</a> of $1.09 billion. Its non-GAAP operating income came in at $16.03 million, compared to an operating loss of $1.53 million in the previous year's quarter. Its non-GAAP EBIT rose 87.3% year-over-year to $54.54 million.
Moreover, net earnings attributable to controlling interest grew 78.5% and 77.3% from the previous-year quarter to $38.88 million and $0.78 per share.
Further, as of November 30, 2023, the company's total debt was $623.8 million, down $69 million from May 31, 2023,
Healthy Dividend Policy
On December 19, WOR declared a quarterly dividend of $0.16 per share, payable on March 29, 2024.
The company pays an annual dividend of $0.64, which yields 1.02% on the prevailing price level, compared to a four-year average dividend yield of 2.07%. It has raised its dividend payouts at a CAGR of 6.9% over the past three years. Moreover, the company has consistently raised its dividend payments for the past nine years.
Impressive Profitability
The stock's trailing-12-month net income margin of 6.43% is 36.2% higher than the 4.72% industry average. Its trailing-12-month ROCE and ROTA of 17.94% and 8.28% are 55.9% and 96.8% higher than the industry averages of 11.51% and 4.21%.
Moreover, the company's trailing-12-month asset turnover ratio of 1.32x is 33% higher than the 0.99x industry average.
Discounted Valuation
WOR's trailing-12-month non-GAAP P/E multiple of 9.50 is 35.4% lower than the industry average of 14.70. Its trailing-12-month EV/Sales of 0.77x is 39.2% lower than the industry average of 1.27x.
POWR Ratings Exhibit Rosy Prospects
WOR's solid outlook is reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to Buy in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. WOR holds a B grade for Momentum, which is in line with its impressive price performance.
The stock also earns a B grade for Quality, which is consistent with its impressive profitability metrics.
WOR is ranked #17 out of 30 within the A-rated <a href="https://stocknews.com/category/steel/">Steel</a> industry.
Click <a href="https://stocknews.com/stock/WOR/">here</a> to access WOR's Value, Momentum, Stability, and Sentiment ratings.
Bottom Line
With the recent announcement of the addition of HALO&#x2122;-branded outdoor culinary products to its portfolio and the acquisition of a significant stake in a HALO affiliate, WOR is poised to capitalize on the growing demand for high-quality outdoor experiences.
Moreover, the stock also indicates an uptrend currently, reflecting investor confidence.
Additionally, its robust financial performance, highlighted by strong revenue growth and improved profitability metrics, further solidifies its position in the market. Further, its healthy dividend policy and discounted valuation make the stock an ideal buy right now.
How Does Worthington Enterprises, Inc. (WOR) Stack Up Against Its Peers?
While WOR has an overall grade of B, equating to a Buy rating, you may check out these A (Strong Buy) rated stocks within the <a href="https://stocknews.com/category/steel/">Steel</a> industry:
TERNIUM S.A. ADR (<a href="https://stocknews.com/stock/TX/">TX</a>)
Companhia Siderurgica Nacional S.A. (<a href="https://stocknews.com/stock/SID/">SID</a>)
SSAB AB ADR (<a href="https://stocknews.com/stock/SSAAY/">SSAAY</a>)
To explore more Steel stocks, click <a href="https://stocknews.com/category/steel/">here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

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WOR shares were trading at $62.57 per share on Wednesday morning, down $0.32 (-0.51%). Year-to-date, WOR has gained 9.00%, versus a 8.82% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/wor-tx-sid-ssaay-worthington-industries-wor-earnings-alert-evaluating-growth-potential/>Worthington Industries (WOR) Earnings Alert: Evaluating Growth Potential</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Worthington Industries (WOR) Earnings Alert: Evaluating Growth Potential

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