Brazil · Delayed Price · Currency is BRL Metalurgica Gerdau Earnings Call Transcripts
Fiscal Year 2026
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Strong Q1 2026 results driven by North America, with record adjusted EBITDA and robust cash flow. Brazil faced import pressures but improved margins through cost discipline. Major projects and trade defense measures are expected to further boost performance in the coming quarters.
Fiscal Year 2025
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2025 saw resilient North American performance offsetting Brazilian challenges from imports and cost pressures, with EBITDA down 7% and positive free cash flow. Outlook for 2026 includes margin recovery in Brazil and continued strength in North America, supported by cost reduction projects.
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Q3 2025 saw strong North American performance and improved cash flow, offsetting Brazil's import-driven challenges. Capital allocation favored buybacks, with major mining and HRC projects advancing and a cautious outlook for Brazil pending trade defense measures.
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North American operations drove record EBITDA share amid strong demand, while Brazil faced import-driven challenges, prompting reduced future investments. CapEx will decrease after 2026, with capital allocation focused on share buybacks and maintaining essential projects.
Fiscal Year 2024
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Adjusted EBITDA reached R$ 3 billion, with net income up over 50% sequentially and strong free cash flow. Cost reductions and asset optimization drove margin improvements, while high steel imports and global overcapacity remain key risks. Shareholder returns were robust, and outlook for 2025 is positive, especially in Brazil.