Gerdau 2Q26: Adjusted EBITDA Jumps 16% QoQ to R$3.4B, North America Drives Margin Expansion
GGB sits 81% above its 52-week low of $2.85.
Summary
Gerdau reported 2Q26 Adjusted EBITDA of R$3.4 billion, up 16% QoQ, driven by North America's strong performance. The company also declared a R$0.23 dividend and advanced its share buyback program.
Key Events · Earnings and Guidance · GGB
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Adjusted EBITDA Rises 16% QoQ
Consolidated Adjusted EBITDA reached R$3.4 billion in 2Q26, up from R$2.96 billion in 1Q26, with margin expanding 1.5pp to 19.2%.
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North America Drives Profitability
North America segment Adjusted EBITDA grew 15% QoQ to R$2.6 billion, with a 25.7% margin, benefiting from favorable demand and higher realized prices.
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Dividend of R$0.23 Per Share Declared
Board approved R$451.3 million in dividends, payable September 11, 2026, with ex-dividend date August 20, 2026.
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Share Buyback Program 31% Complete
Company repurchased 17.4 million shares for R$334 million under the 2026 buyback program, and approved cancellation of 7.1 million treasury shares.
Analysis · GGB · Manufacturing
A strong second quarter saw Adjusted EBITDA climb 16% sequentially to R$3.4 billion, fueled by an improved sales mix and higher realized prices. North America stood out, delivering 74% of consolidated EBITDA with a 25.7% margin. Shareholders benefited from a R$0.23 per share dividend and ongoing buybacks, which together returned R$556 million during the quarter. While the results bolster the earnings recovery story, the stock already trades near its 52-week high, suggesting much of the good news may be priced in.
At the time of this filing, GGB was trading at $5.16 on NYSE in the Manufacturing sector, with a market capitalization of approximately $9.3B. The 52-week trading range was $2.85 to $5.17. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.