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

• Gerdau SA GGB.N reported quarterly adjusted earnings of 45 centavos​​ per share for the quarter ended June 30, identical to the same quarter last year. The mean expectation of two analysts for the quarter was for earnings of 51 centavos per share. Wall Street expected results to range from 49 centavos to 52 centavos per share.

• Revenue was R$17.53 billion​; analysts expected R$18.24 billion.

• Gerdau SA's reported EPS for the quarter was 43 centavos​.

• The company reported quarterly net income of R$864.5 million.

• Gerdau SA shares had risen by 3.1% this quarter and gained 4.5% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 11.4% 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 $3.80, about 22.1% above its last closing price of $2.96

This summary was machine generated from LSEG data July 31 at 11:23 p.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)