Grupo Acerero's Q1 results boosted by momentum in plate

Grupo Acerero SA de CV

First quarter ended March 31	2026	2025	% Change
Net sales	4,189	3,688	13.6%
Net profit (loss)	68.6	28.0	145%
Per share	3.05	1.20	154%

(in millions of pesos except per share)

Grupo Acerero SA de CV (GASA) posted higher shipments and stronger profitability in the first quarter of 2026. In its quarterly earnings statement, the Mexican EAF steel producer reported firmer construction activity, rising domestic steel demand, and improving price conditions in the flat steel market.

GASA posted Q1’26 sales volumes of 268,000 tons, up 11.4% from 240,000 tons sold a year earlier. Long products accounted for 62.7% (168,036 tons) of the mix and flats (plate) 37.3% (99,964 tons), compared with 72% longs (172,800 tons) and 28% flats (67,200 tons) in Q1’25. The company said this reflected continued growth in its flat-rolled business.

Revenue rose 13.6% year over year to 4.189 billion pesos (US$242.4 million), driven by higher volumes and an 1.8% increase in average selling prices, particularly for flat products amid a recovery in international markets, the company said. Net profit climbed to 68.6 million pesos (US$4 million), more than doubling the 27.95 million pesos posted in Q1’25.

Margins also strengthened. GASA’s gross margin improved to 14.2%, up from 12.2% a year earlier, supported by more favorable scrap-to-selling-price alignment and improved cost positioning in the flat steel segment.

The company continues advancing its flat-rolled steelmaking project in San Luis Potosí. The 1.25-million-ton-per-year slab mill began operating in Q4’25.

GASA, a part of Grupo Fonderia SA de CV, is based in San Luis Potosí and manufactures long steel products, including rebar, wire rod, drawn products, and billets, as well as flat-rolled steel plate.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held various editorial positions with steel industry publications, associations, and mills since 2007. She joined the SMU team in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania.