Gerdau SA reports results for the quarter ended in September 30 - Earnings Summary

• Gerdau SA GGB.N reported quarterly adjusted earnings of 68 centavos​​ per share for the quarter ended September 30, lower than the same quarter last year, when the company reported EPS of 75 centavos. The mean expectation of two analysts for the quarter was for earnings of 77 centavos per share. Wall Street expected results to range from 75 centavos to 78 cents per share.

• Revenue rose 1.8% to R$17.38 billion from a year ago; analysts expected R$17.42 billion.

• Gerdau SA's reported EPS for the quarter was 64 centavos​.

• The company reported quarterly net income of R$1.36 billion.

• Gerdau SA shares had fallen by 11.1% this quarter and lost 23.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 21.1% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy," no "hold" and no "sell" or "strong sell."

• The average consensus recommendation for the iron & steel peer group is also "buy"

Wall Street's median 12-month price target for Gerdau SA is 4.70

This summary was machine generated from LSEG data November 6 at 03:45 a.m. UTC. ​All figures in Brazilian reais unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)