Gerdau (ADR)
Makes long, flat, and special steels through electric mini-mills and integrated production.
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Profile
Produces and sells long, flat, and special steels across Brazil, North America, and South America through scrap-fed electric mini-mills and an iron-ore-based integrated route. A family-controlled parent holds voting control, while the NYSE depositary shares represent preferred shares.
Produces long, flat, and special steels, along with iron ore, through the Brazil, North America, and South America segments. Operations are concentrated across the Americas, with steelmaking in Brazil, the United States, Canada, Argentina, Peru, and Uruguay.
The production system combines scrap-fed electric mini-mills with the iron-ore-based integrated route at Ouro Branco. This mixed architecture supports recycled-metal processing alongside mining, primary steelmaking, rolling, and distribution.
Ferrous-scrap supply and electricity shape the electric route, while iron ore and carbon inputs underpin integrated production. Demand, imports, and steel pricing vary across regional markets. Voting control remains with the family-controlled parent, while NYSE depositary shares represent preferred shares.
Company facts
Categories
Key statistics
Year to date +21.6% · Average volume (30d) 12.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 27, 2026 | UBS | Reiterate | Buy | $5.25 | $6.10 | |
| Aug 23, 2026 | Goldman Sachs | Downgrade | Neutral | |||
| Aug 20, 2026 | HSBC | Downgrade | Hold | |||
| Aug 10, 2026 | Itau BBA | Downgrade | Outperform | Market Perform | ||
| Apr 29, 2026 | UBS | Reiterate | Buy | $4.60 | $5.25 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $0.15 | $0.15 | 0.0% | $3.41B | $3.49B | +2.2% | +0.78% |
| Apr 27, 2026Q1 FY26 | $0.15 | $0.10 | −33.3% | $3.36B | $3.34B | −0.6% | +4.40% |
| Feb 23, 2026Q4 FY25 | $0.11 | $0.07 | −36.4% | $3.15B | $3.29B | +4.5% | −2.16% |
| Oct 30, 2025Q3 FY25 | $0.11 | $0.10 | −9.1% | $3.09B | $3.37B | +9.1% | +1.16% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.34B | $3.37B | $3.45B | $3.26B | $3.21B | $3.43B | |
| Gross profit | $373.9M | $390.1M | $411.5M | $355.1M | $440.7M | $543.5M | |
| Operating income | $264.5M | $280.3M | $301.6M | $231.0M | $336.6M | $440.9M | |
| Net income | $144.0M | $164.5M | $207.4M | −$249.4M | $192.5M | $279.3M | |
| Diluted EPS | $0.07 | $0.08 | $0.10 | −$0.13 | $0.10 | $0.14 | |
| Gross margin | 11.2% | 11.6% | 11.9% | 10.9% | 13.7% | 15.8% | |
| Operating margin | 7.9% | 8.3% | 8.7% | 7.1% | 10.5% | 12.8% |
Fiscal years (4-quarter sums)FY21 $15.05B · FY22 $15.83B · FY23 $13.24B · FY24 $12.88B · FY25 $13.42B
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $1.05B · Total debt $2.91B · Total assets $15.75B · Shareholders' equity $10.29B
Dividends
Last raised to $0.0448 from $0.0348 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 21, 2026 | Aug 21 | Sep 18 | $0.0448 | raised from $0.0348 |
| May 15, 2026 | May 15 | Jun 16 | $0.0348 | raised from $0.0192 |
| Mar 12, 2026 | Mar 12 | Mar 25 | $0.0192 | cut from $0.0515 |
| Nov 12, 2025 | Nov 12 | Dec 18 | $0.0515 | raised from $0.0219 |
| Aug 13, 2025 | Aug 13 | Aug 25 | $0.0219 | raised from $0.0212 |
| May 12, 2025 | May 12 | May 27 | $0.0212 | raised from $0.0174 |
| Mar 7, 2025 | Mar 7 | Mar 21 | $0.0174 | cut from $0.0495 |
| Nov 21, 2024 | Nov 21 | Dec 23 | $0.0495 | raised from $0.022 |
Ownership
Shares outstanding 1.98B · Float 1.26B · 63.8% free float
Insiders — filings are in the shares behind the receipt.
This listing is a depositary receipt and the Form 4 positions here are filed in the shares behind it, a different unit from the share count and in a ratio the filings never state, so no insider percentage is shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Acadian Asset Management LLC | 48.67M | 2.46% | 13F | Aug 13, 2026 |
| Capital World Investors | 26.90M | 1.36% | 13F | Aug 12, 2026 |
| UBS Asset Management Americas Inc | 25.75M | 1.30% | 13F | Aug 13, 2026 |
| Contrarian Capital Management, L.L.C. | 19.07M | 0.96% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 18.23M | 0.92% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 8, 2026 | Marcos Zilles Mattiello | other: Senior Management | −10,387 | $5.11 |
| Aug 10, 2026 | Andre Bier Gerdau Johannpeter | other: Chairman of Board of Directors | −99,200 | $4.94 |
| Aug 6, 2026 | Rafael Dorneles Japur | other: VP, CFO and IR Officer | −10,000 | $5.10 |
| Jun 12, 2026 | Gustavo Werneck da Cunha | officer: CEO and Board Member | +165,224 | $4.73 |
| May 26, 2026 | Mauricio Metz | other: Executive Vice President | −5,000 | $4.70 |
Peers
- Nucor
Broad North American rival in long and specialty steel
- ArcelorMittal (ADR)
Broad Brazilian rival across long steel, flat steel, and iron ore
- Commercial Metals
Construction-steel rival in rebar, merchant bar, and fabrication
- Steel Dynamics
EAF rival in structural, merchant-bar, rebar, and SBQ markets
- CSN (ADR)
Integrated Brazilian rival in long steel, flat steel, and iron ore
- Grupo Simec (ADR)
Brazil-linked long-steel rival in commercial products and SBQ
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Gerdau (ADR) | $4.64 | +0.87% | $9.07B | 21.3 | 9.5 | — | +8.2% |
| Nucor | $250.50 | −0.02% | $57.05B | 20.0 | 12.2 | 1.6 | +23.0% |
| ArcelorMittal (ADR) | $74.39 | +0.01% | $56.62B | 31.5 | — | 0.9 | +5.2% |
| Commercial Metals | $67.63 | −0.03% | $7.48B | 12.7 | 9.4 | 0.8 | +22.9% |
| Steel Dynamics | $234.67 | +0.04% | $33.63B | 21.3 | 11.6 | 1.6 | +33.4% |
| CSN (ADR) | $1.03 | +0.78% | $1.35B | — | — | 0.2 | +10.7% |
| Grupo Simec (ADR) | $29.55 | +0.85% | $4.86B | 22.6 | 12.9 | 0.4 | −93.6% |
| Median | 21.3 | 11.9 | 0.9 | +16.8% |