GGB Gerdau S.A.

$GGB Gerdau's 3Q26 adjusted EBITDA rose 37.8% from a year earlier to R$3.77B on lower volume. 🏢 Gerdau is a Brazilian steelmaker with long, flat and special steel mills in Brazil, the U.S., Canada, Argentina, Peru and Uruguay 📈 Adjusted EBITDA rose 37.8% from a year earlier to R$3,771M from R$2,737M even though steel shipments fell 5.6%, lifting the margin to 20.2%, the highest since 2Q23 📈 North America carried the quarter, with its adjusted EBITDA up 60.0% to R$2,912M at a 27.7% margin on higher realized prices and an order backlog of over 100 days ⚠️ The case against is Brazil, where shipments fell 14.6% from a year earlier, the margin was only 10.7% and imports rose 19.8% from 2Q26, so profit leans on North American pricing 📅 Next: Call October 27 (Tuesday) at 11:00 a.m. NY; R$0.34 ADR dividend record date 11/12/2026, paid 12/22/2026; Miguel Burnier mine start-up scheduled for 4Q26 Source: Gerdau 3Q26 release + SEC 6-Ks, Oct 26