Heat stress (HT) impairs reproductive performance. The use of in vitro produced embryos (IVP-ET) can be an aid to improve conception rates (CR) during HT, but economic studies on this practice that consider the seasonality of production are scarce. Our objective was to estimate how an IVP-ET program during HT affects annual herd profitability under a parlor capacity (PCAP) and a maximum number of calving per month (MCALV) constraints. We developed a Markov chain model with 4 HT months, which impaired milk production, mortality, and CR. Heifers were bred with conventional semen only, and cows either conventional semen or IVP-ET. We used a nonlinear model to maximize the annual herd profit by changing the number of heifers calving each mo, subject to the constraints. IVP-ET prices were $100 or $200, the duration of the IVP-ET during HT was 2 or 4 mo, and the breeding in which the IVP-ET started was first or third. No genetic gain was considered. Mean CR for conventional semen during cool and HT mo was 0.57 and 0.52 (heifers) and 0.37 and 0.31 (cows), and mean CR for IVP-ET was 0.33 and 0.30 (cool and HT mo). Seasonality in milk production was measured by low-to-peak ratios (LP, lowest mo value divided by the greatest). When PCAP was the only constraint, the profitability decreased from $970,319 when no IVP-ET was used (999 average milking cows, LP 0.93) to $824,970 (4 mo of $200 IVP-ET, starting on the first breeding, 911 average milking cows, LP 0.56). Less milking cows explain the reduction in profitability, as the model avoided expensive IVP-ET breeding and became more seasonal. When both PCAP and MCALV were constraints, profitability decreased from $962,099 (no IVP-ET, average 991 milking cows, LP 0.92) to $772,718 (4 mo of $200 IVP-ET, starting on the first breeding, 982 average milking cows, LP 0.91) due mainly to the use of expensive IVP-ET breedings during HT. An average of $20 per IVP-ET would reach the same profitability as scenarios without IVP-ET, regardless of the constraints. In conclusion, the use of IVP-ET during HT under the current market prices of IVP-ET was not feasible. Using other herd constraints or considering additional negative effects of HT might increase the value of IVP-ET during HT.