Gerdau Q2 Sales R$16.616B Down From R$18.265B YoY; Adj. Net Income R$945M Down From R$2.143B YoY
Portfolio Pulse from Benzinga Newsdesk
Gerdau reported Q2 sales of R$16.616 billion, down from R$18.265 billion year-over-year. Adjusted net income also decreased to R$945 million from R$2.143 billion in the same period last year.
August 01, 2024 | 7:16 am
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Gerdau's Q2 financial results show a significant decline in both sales and adjusted net income compared to the same period last year. This could negatively impact investor sentiment and the stock price in the short term.
The substantial year-over-year decline in both sales and adjusted net income indicates potential challenges for Gerdau, which could lead to a negative reaction from investors and a short-term drop in the stock price.
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