Brazilian steel and iron ore producer Usiminas reported net income equivalent to $178.589 million for the first quarter of 2026, up 596 percent from the fourth quarter of 2025.
The company attributes the positive results to the development of its operating and financial results, coupled with the positive impact of exchange rate fluctuations.
Net sales grew 5 percent due to 1.176 billion, cost of sales decreased 9 percent to $1.034 billion, while gross profit increased 50 percent to $141 million and operating profit increased 179 percent to $74.9 million.
In volume terms, sales of steel products decreased 7 percent to 1.007 million tons and iron ore sales decreased 21 percent to 1.007 million tons. 1.946 million tons.
Compared to the first quarter of 2025, net sales decreased by 14 percent, operating costs decreased by 15 percent, gross profit decreased by 8 percent, operating income decreased by 15 percent, and net income increased by 166 percent.
USD = 5.22 Brazilian reais (February 13)
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