Ternium Revenue 10% Lower, J.P. Morgan Reports

Revenues for Ternium's TX North American segment were 10% lower QoQ (5% below JPMe), driven mainly by weakerthan- expected shipments (-6% QoQ and 5% below JPMe), J.P. Morgan reports. Prices also suffered, 4% lower QoQ (though in line with JPMe). “Weaker NA results were partially offset by stronger results for the South & Central America and European segment. S&CA shipments were 4% higher QoQ (+3% vs. JPMe), helped by the partial consolidation of Ferrasa (35kt in 3Q10), and prices too came in better than expected (+3% QoQ, in line with JPMe),” J.P. Morgan writes. Ternium currently trades at $35.26.