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

• Gerdau SA GGBR4.SA reported quarterly adjusted earnings of 73 centavos​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of 54 centavos. The mean expectation of five analysts for the quarter was for earnings of 92 centavos per share. Wall Street expected results to range from 85 centavos to R$1.08 per share.

• Revenue rose 3.9% to R$18.69 billion from a year ago; analysts expected R$18.56 billion.

• Gerdau SA's reported EPS for the quarter was 79 centavos​.

• The company reported quarterly net income of R$1.55 billion.

• Gerdau SA shares had risen by 3.9% this quarter and gained 26.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 13.7% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy," 6 "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 R$29.00, about 12.2% above its last closing price of R$25.45

This summary was machine generated from LSEG data October 26 at 10:57 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)