Brazilian steel and iron ore producer Usiminas reported net profit of $44.751 million for the third quarter of 2026, down 43.2% from the previous quarter.
The company described market conditions as challenging, citing imbalances in global steel supply, volatility in international markets and uncertainty over growth in major economies. Usiminas said it remained focused on operational efficiency and financial discipline.
Net sales revenue rose 1.2% to $1.142 billion, while the cost of products sold increased 4.4% to $1.023 billion. As a result, gross profit fell 20.3% to $118.319 million and operating profit declined 43.2% to $44.751 million.
Steel product sales volume increased 5% to 1.034 million metric tons. Iron ore sales fell 18% to 2.014 million metric tons. Usiminas reports in Brazilian reals; the figures were converted at BRL 5.43 per US dollar.
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