Brazilian steel and iron ore producer Usiminas reported a net profit in the second quarter of 2026 equivalent to $84.621 million, down 52.2 percent from the previous quarter.
The decrease reflects a negative financial result and a comparison with the positive impact of deferred taxes in the previous quarter, which was not repeated in the second quarter, despite improved operating performance, the company said.
Net sales revenue increased by 4.4 percent to $1.211 billion, cost of sales increased by 3.1 percent to $1.052 billion, gross profit increased by 13.8 percent to $159.4 million, and operating profit increased by 55.1 percent to $114.6 million.
In volume terms, sales of steel products decreased by 2 percent to 989,000 metric tons (mt), while iron ore sales increased by 27 percent to 2.469 million mt.
When compared with the first quarter of 2026, net sales decreased by 7 percent, production Costs decreased by 13 percent, gross profit increased by 64 percent, operating profit increased by 334 percent, and net profit increased by 236 percent.
Usiminas has published its results in Brazilian Real (BRL), converted here at the rate of 5.06 Brazilian real per US dollar.
Luis Compagnoni EditorI am a retired mechanical engineer who has been involved in the Latin American steel industry, from iron ore to finished products, for the past 20 years.
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