• Gerdau 1Q26 earnings call drew CEO Gustavo Werneck, CFO Rafael Japur, investor relations specialist Ariana Pereira; management flagged North America as main earnings engine, delivering best first-quarter adjusted EBITDA since 2022 with region representing 75% of consolidated EBITDA on strong demand tied to data centers, infrastructure, solar.
• Consolidated net income reached R$ 1 billion; EBITDA totaled R$ 3 billion with margin near 18%; leverage ended quarter at 0.74x net debt/EBITDA; free cash flow was R$ 16 million amid roughly R$ 1 billion working-capital consumption, with management expecting positive free cash flow in second half on normalization and lower capex.
• Brazil remained pressured by imports, with import penetration at 22.7% as volumes rose 4.2% year over year; management pointed to logistics and productivity initiatives to keep lifting margins, while warning of energy cost pressure and ongoing efforts to pass higher input costs through pricing.
• Key growth projects slated for completion by end-2026 include Miguel Burnier mining expansion, Pindamonhangaba scrap processing center, first phase of Midlothian expansion in Texas; management reiterated combined potential to add nearly R$ 1.5 billion in annual EBITDA at full ramp-up, with Miguel Burnier alone targeted at about R$ 1.1 billion per year longer term.
• Miguel Burnier ramp-up has slipped due to civil construction and electromechanical productivity constraints; CFO said full R$ 400 million EBITDA contribution expected for 2026 is unlikely, while management expects wire rod anti-dumping cases to conclude in second half, citing dumping margins near USD 550/ton for China, about USD 100/ton for Russia.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Gerdau SA published the original content used to generate this news brief on May 05, 2026, and is solely responsible for the information contained therein.