Gerdau SA (GGB) has released an update.
Gerdau S.A. reported a robust third quarter for 2024, driven by cost-cutting measures and operational efficiencies in Brazil, achieving an adjusted EBITDA of R$3.0 billion, marking a 14.9% increase from the previous quarter. The company also announced a dividend payout of R$619.4 million and continued its share buyback program, reflecting a solid commitment to shareholder value. Despite challenges from imported steel in Brazil and fluctuating global steel prices, Gerdau’s strategic initiatives and recognition for sustainability excellence are positioning the company for continued growth.
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