Brazil Markets · Company Earnings
Published Monday, 26 October, 5:50 p.m. ET · Source: Gerdau filings with the US Securities and Exchange Commission (SEC), RT market data
Key Facts
—Profit. Gerdau’s adjusted profit rose 39.7% to R$1.52 billion (about US$282 million) in the third quarter.
—Sales. Net sales grew only 3.9% to R$18.69 billion (about US$3.5 billion), so each real of sales kept more profit.
—Payout. The board declared R$0.34 per share (about US$0.06), paid 15 December; New York shareholders get theirs on 22 December.
—Still unknown. What the full release says about steel volumes and the outlook; Gerdau holds its call on Tuesday, 27 October.
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Gerdau made almost 40% more adjusted profit than a year ago on only 3.9% more sales. That gap is the whole story of its third quarter, which the company reported on Monday, 26 October 2026, after the New York close.
Gerdau is a Brazilian steelmaker whose shares trade in Brazil’s stock market and, as American depositary receipts (ADRs, dollar-priced certificates), on the New York Stock Exchange under GGB. The result also says something about Brazil’s economy, where steel tracks building and factory demand.
A Bigger Profit From Barely Bigger Sales
Adjusted net income, which strips out one-off items, reached R$1.52 billion (about US$282 million at R$5.39 per dollar, the 26 October close from RT, a market-data provider). That is up 39.7% from the third quarter of 2025.
Reported net income, the accounting figure, was R$1.56 billion (about US$290 million), up 43.4% from R$1.09 billion a year earlier, according to the unaudited statements Gerdau filed with the US Securities and Exchange Commission (SEC), the American market regulator.Net sales rose 3.9% to R$18.69 billion (about US$3.5 billion).
Adjusted EBITDA, a measure of operating profit before interest, tax and depreciation, came in near R$3.77 billion (about US$700 million), roughly 20% of sales.Gerdau reported adjusted EBITDA of R$3.4 billion in the second quarter, so the latest figure is higher again.
Profit growing far faster than sales usually means a company is earning more on every tonne it sells, or spending less to make it.
What Shareholders Get
The board declared an advance on the 2026 minimum dividend of R$0.34 per share (about US$0.06) for Gerdau and R$0.16 (about US$0.03) for Metalúrgica Gerdau, the holding company that controls it. Holders of record on Tuesday, 10 November receive the Gerdau payment on Tuesday, 15 December.
The shares trade without the right to the dividend from Wednesday, 11 November. For ADR holders in the United States, the record date is Thursday, 12 November and the payment date is Tuesday, 22 December.
The notice states the amount in reais, so the dollar value depends on the exchange rate that day.
Live Company IntelligenceGerdau S.A — the full investor dossierInside: live share price, market cap, three-year financials, valuation, ESG and peer benchmarks — plus the latest Rio Times coverage.
G
◆ Live Company Intelligence
Gerdau
SA: GGBR4GGBR4Basic MaterialsSteel30,000 employees
R$49.48B
Market cap
Valuation & profitability
Market capR$49.48B
Revenue (TTM)R$69.54B
P / E ratio21.7
Profit margin3.2%
Return on equity4.2%
Price & risk
52-wk low
$16.6652-wk high
$27.13
Beta (volatility)0.89
200-day average$22.79
Revenue trend · 6y
20202025
Latest R$69.86B
Ownership
Institutions39.4%
Shares outstanding1.24B
Dividend
Yield3.1%
Payout ratio26.3%
Fwd. annual$0.92
What Gerdau does. Gerdau S.A., together with its subsidiaries, operates as a steel producer company. It operates through Brazil Business, North America Business, and South America Business segments. The company offers rebars, bars, wires, thick plates, hot rolled coils, billets, blooms, plates, wire rods, and structural profiles. It also provides special steel products for agricultural,…
A Quiet Day Before a Loud Reading
The numbers arrived after the market had closed. The ADR ended Monday at US$4.75, down 6.9% on the day, so that fall came before anyone saw these results.
Tuesday will be the first test of how investors read the quarter. Gerdau has scheduled a videoconference for noon in Brazil, 11 a.m. New York time.
In plain English: “Adjusted” means the company removed one-off gains and costs to show its usual earning power. “EBITDA” is profit from running the business, before financing costs and taxes.
What It Means for US Readers
For an American holding GGB, the quarter shows earnings rising much faster than revenue, and a cash payout on 22 December. Because the dividend is declared in reais, the dollar amount depends on the exchange rate on the payment date.
Steel is also a clue to the wider economy. When a large producer earns more on flat sales, it can point to better pricing or lower costs, though one quarter proves little.
What Is Not Known
The full earnings release carries steel volumes, the split between North America and Brazil, debt and the outlook. The Rio Times had not confirmed those figures against the company document at publication, so we do not report them here.
Whether investors treat the profit jump as lasting will show in Tuesday’s trading. We will update this story if the call changes the picture.
Background: Brazil Runoff: Lula Won 51.8%, Polls Had Flávio Ahead.
Background: Brazil Tax Reform 2026 Replaces Five Taxes With Two VATs.
Sources
Gerdau S.A., Form 6-K filings, SEC, 26 October 2026 · Gerdau investor relations · RT market data, 26 October 2026
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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Frequently Asked Questions
How much profit did Gerdau make in the third quarter of 2026?
Adjusted net income was R$1.52 billion (about US$282 million), up 39.7% from a year earlier. Reported net income was R$1.56 billion (about US$290 million).
When does Gerdau pay its next dividend?
Gerdau declared R$0.34 per share (about US$0.06), payable on 15 December 2026. ADR holders in the United States are paid on 22 December 2026.