Ternium SA (TX) shares tumbled more than 5% in after-hours trading on Tuesday, following the company's disappointing fourth-quarter results that missed analysts' estimates. The Latin American steel producer reported an adjusted net loss of $0.42 per American depositary share (ADS), a significant decline from the profit of $2.11 per ADS in the prior-year quarter.
Ternium's sales for the three months ended December 31 fell to $3.88 billion, down from $4.93 billion in the same period last year. The company's revenue fell short of analysts' consensus estimate of $4.19 billion, according to FactSet data.
Despite the weak performance, Ternium's board proposed an annual dividend of $2.70 per ADS, including an interim dividend of $0.90 per ADS paid in the fourth quarter. If approved, the remaining dividend of $1.80 per ADS will be paid on May 14 to shareholders of record as of May 9.
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