GERDAU S.A. - CONSOLIDATED INFORMATION

Rhea-AI Summary

Gerdau S.A. (BM: GGBR3/GGBR4) reported 3Q25 adjusted EBITDA of R$2.7 billion, up 7% versus 2Q25, with North America contributing 65% of consolidated EBITDA. CAPEX in 3Q25 was R$1.7 billion, 60% aimed at asset competitiveness. The company set 2026 CAPEX guidance at R$4.7 billion, 22% below 2025 forecast. A dividend of R$0.28 per share (R$555.2 million) was declared based on 3Q25 results. The share buyback program is ~88% complete, with ~56.8 million shares repurchased for R$902 million to date and management confirming the plan remains in effect. Gerdau executed a make-whole call on a US$500 million 2030 bond, settlement scheduled for Dec 2, 2025. 3Q25 filings and a valuation guide are available on the company website.

Positive

• Adjusted EBITDA of R$2.7 billion in 3Q25 (+7% QoQ)
• North America reached 65% share of consolidated EBITDA
• 2026 CAPEX guidance of R$4.7 billion (22% below 2025 forecast)
• Declared dividend of R$0.28 per share totaling R$555.2 million
• Share buyback progress: ~56.8 million shares repurchased (~88% of program)

Negative

• 3Q25 CAPEX cash out of R$1.7 billion
• Make-whole call on US$500 million 2030 bond with settlement on Dec 2, 2025
• Total spent on buybacks to date R$902 million, reducing available cash

Insights

Capital Markets Analyst

Gerdau shows quarter-on-quarter EBITDA growth, strong North America contribution, continued buybacks and shareholder returns.

Adjusted EBITDA reached R$2.7 billion in 3Q25, up 7% versus the prior quarter, with **North America** supplying 65% of consolidated EBITDA. Management declared a dividend of R$0.28 per share (total R$555.2 million) and completed ~88% of its share buyback program, investing R$902 million so far.

The company reported R$1.7 billion of CAPEX in the quarter, with 60% aimed at asset competitiveness, and guided 2026 CAPEX at R$4.7 billion, 22% below the 2025 forecast. The firm will execute a make-whole call on its 2030 bond for US$500 million, settling on December 2, 2025.

The business case rests on operational earnings growth and shareholder returns. Watch liquidity and timing around the US$500 million bond call and the remaining buyback capacity for effects on net debt and free cash flow. Near-term monitors include quarterly EBITDA trends, actual 2026 CAPEX outturn versus the guidance, and the bond settlement on December 2, 2025.

SÃO PAULO, Oct. 30, 2025 /PRNewswire/ -- 3Q25 Highlights

• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of R$2.7 billion in 3Q25, up 7% compared to 2Q25, with North America standing out by reaching a new record share of consolidated EBITDA, accounting for 65%.
   
• Investments (CAPEX) of R$1.7 billion in 3Q25, with 60% of that amount allocated to enhancing the competitiveness of our assets. On October 1st, the Company announced CAPEX guidance for 2026, totaling R$ 4.7 billion – 22% lower than the forecast for 2025.
   
• Dividend distribution of R$0.28 per share, equivalent to R$555.2 million, based on 3Q25 results.
   
• The Company has reached approximately 88% of the 2025 Share Buyback Program, having repurchased around 56.8 million shares of Gerdau S.A., totaling an investment of R$902 million in the program so far. Management emphasizes that the current share repurchase plan remains in effect.
   
• Company announced the execution of a Make-Whole call for its 2030 Bond, in the amount of US$500 million, with a coupon rate of 4.25% and maturity in 2030. The settlement of the transaction is scheduled for December 2, 2025.

Additional information

Gerdau S.A. (NYSE: GGB, BM&Fbovespa: GGBR3, GGBR4) informs that it is filling today its 3Q25 results at the Securities and Exchange Commission (SEC) and at the Comissão de Valores Mobiliários (CVM), which are available at Gerdau's website. To access this document, please click on: https://ri.gerdau.com/en/notices-and-results/results-center/.

The 3Q25 Valuation Guide is also available at Gerdau's website.
https://ri.gerdau.com/en/financial-information/valuation-guide/ 

View original content:https://www.prnewswire.com/news-releases/gerdau-sa--consolidated-information-302600422.html

SOURCE Gerdau S.A.

FAQ

What was Gerdau's adjusted EBITDA in 3Q25 and how did it change versus 2Q25 (BM:GGBR3)?

Gerdau reported adjusted EBITDA of R$2.7 billion in 3Q25, a 7% increase versus 2Q25.

How much CAPEX did Gerdau spend in 3Q25 and what is the 2026 CAPEX guidance (BM:GGBR3)?

Gerdau spent R$1.7 billion in CAPEX in 3Q25 and set 2026 CAPEX guidance at R$4.7 billion (22% lower than 2025 forecast).

What dividend did Gerdau declare based on 3Q25 results and what is the total payout (BM:GGBR3)?

The company declared a dividend of R$0.28 per share, equal to R$555.2 million based on 3Q25 results.

How complete is Gerdau's 2025 share buyback program and how many shares were repurchased (BM:GGBR3)?

Gerdau has completed approximately 88% of the 2025 buyback program, repurchasing about 56.8 million shares for R$902 million so far.

What bond action did Gerdau announce for its 2030 bond and when will it settle (BM:GGBR3)?

Gerdau announced a make-whole call on a US$500 million 2030 bond (coupon 4.25%), with settlement scheduled for December 2, 2025.