Gerdau S.A. - Consolidated Information

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Rhea-AI Summary

Gerdau S.A. (NYSE: GGB) reported strong financial results for the third quarter of 2020, with EBITDA increasing by 46% to R$2.1 billion compared to 3Q19. The company's net profit surged 95% year-over-year, reaching R$795 million. Additionally, the net debt to EBITDA ratio improved, decreasing from 2.8x to 2.1x by the end of September. Gerdau also joined the B Movement Builders initiative to foster long-term value creation for stakeholders. Comprehensive results are available in their filings with the SEC and CVM.

Positive

EBITDA increased 46% to R$2.1 billion compared to 3Q19.
Net profit rose 95% year-over-year to R$795 million.
Net debt to EBITDA ratio improved from 2.8x to 2.1x.

Negative

None.

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News Market Reaction – GGB

The recorded move for GGB in the trading session of this news was -8.57%.

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10/28/2020 - 09:07 AM EDT

SÃO PAULO, Oct. 28, 2020 /PRNewswire/ -- Gerdau S.A. (NYSE: GGB, BM&Fbovespa: GGBR3, GGBR4) -- The consolidated EBITDA increased 46% in the third quarter compared to 3Q19 and amounted R$2.1 billion.

In 3Q20, the net profit totaled R$795 million, up 95% compared to third quarter of 2019.

The net debt LTM EBITDA ratio decreased to 2,1x in the end of September, from 2,8x in the end of previous quarter.

Adherence to the B Movement Builders initiative, coalition launched by B Lab, unifying publicly held companies which aim to transform the global economy, in order to create value in the long term for all its stakeholders.

Additional Information
Gerdau S.A. informs that it is filling today its 3Q20 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 3Q20 Valuation Guide is also available at Gerdau's website
https://ri.gerdau.com/en/financial-information/valuation-guide/

View original content:http://www.prnewswire.com/news-releases/gerdau-sa--consolidated-information-301161815.html

SOURCE Gerdau S.A.

FAQ

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What were Gerdau's 3Q20 financial highlights?

Gerdau's 3Q20 highlights include a 46% EBITDA increase to R$2.1 billion and a 95% rise in net profit to R$795 million.

How did Gerdau's net debt perform in 3Q20?

In 3Q20, Gerdau's net debt to EBITDA ratio improved to 2.1x from 2.8x in the previous quarter.

What is Gerdau's stock symbol?

Gerdau's stock symbol is GGB, listed on NYSE.

When did Gerdau release its 3Q20 results?

Gerdau released its 3Q20 results on October 28, 2020.

What initiative did Gerdau join to enhance its business practices?

Gerdau joined the B Movement Builders initiative to promote long-term value creation.

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Gerdau S.A. - Consolidated Information