TX - Ternium tops Q1 earnings estimates as EBITDA per ton pops 20% Y/Y

Ternium (NYSE:TX) +5% post-market Tuesday after easily beating Q1 GAAP earnings estimates as revenues surged 32% Y/Y to $4.3B and EBITDA climbed 14% to a higher than forecast $1.21B, citing higher steel prices that were partially offset by high cost of raw materials. Q1 net income increased to $877.5M, or $3.95/ADS, from $706.7M, or $3.07/ADS, in the year-earlier quarter. Q1 EBITDA per ton jumped 20% Y/Y to $409.50 while falling 23% from Q4's record high $532.30/ton. The steelmaker said it expects EBITDA to rise in Q2 due to higher steel prices and further growth in shipments. Q1 steel shipments rose 4% Q/Q to 2.95M tons, while iron ore shipments fell 12% Q/Q to 897K tons. Ternium's (TX) price return has dropped 8% YTD while coming in roughly flat over the past year.

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Ternium tops Q1 earnings estimates, as EBITDA per ton pops 20% Y/Y