Brazil's Gerdau posts 9% fall in fourth-quarter profit
Adds details from earnings report
SAO PAULO, Feb 19 (Reuters) - Brazilian steelmaker Gerdau GGBR4.SA reported on Wednesday a 9% decline in its fourth-quarter adjusted net profit from a year earlier to 666 million reais ($116.4 million).
The result came in below the 810.3-million-real profit expected by analysts polled by LSEG.
WHY IT'S IMPORTANT
Gerdau is Brazil's largest steelmaker by market capitalization and owns mills across the Americas.
BY THE NUMBERS
Core earnings, or adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), came in at 2.39 billion reais, up 17.2% year-on-year. Analysts polled by LSEG estimated 2.36 billion reais.
Gerdau reported net revenue of 16.8 billion reais, up 14.3% from the same quarter in the previous year.
Steel volumes sold rose 2.4% from a year earlier, to 2.7 million metric tons.
The company also said it sees investments this year at 6 billion reais, while announcing a dividend of 0.10 real per share.
WHAT'S NEXT
Starting from the first quarter of 2025, Gerdau will segment its earnings out by regions - Brazil, North America and South America, it said in a separate filing.
The results from its special steels segment will also be published according to their geographic location, Gerdau added.
($1 = 5.7214 reais)
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