GGB FY 2021 Earnings Report — Gerdau S.A. Revenue & Financial Results | Market Cap Arena

FY 2021 Earnings

Reported March 31, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$15.8B	—	—	—	—
Op. Income	$4.4B	—	—	—	—
Gross Margin	26.6%	—	—	—	—
Net Margin	19.8%	—	—	—	—
EPS (Diluted)	$1.75	—	—	—	—
Free Cash Flow	$1.9B	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$15.8B
Cost of Revenue	$11.6B
GROSS PROFIT	$4.2B
R&D Expenses	$36M
Selling & Marketing	$144M
General & Administrative	$280M
SG&A Expenses	$424M
Other Expenses	-$264M
Operating Expenses	$161M
Cost & Expenses	$11.8B
OPERATING INCOME	$4.4B
Interest Income	$9M
Interest Expense	$40M
Other Income/Expenses	-$360M
INCOME BEFORE TAX	$4.1B
Income Tax Expense	$950M
Net Income from Continuing Ops	$3.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.1B
D&A	$536M
EBIT	$4.3B
EBITDA	$4.8B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$15.8B
Cost of Revenue	$11.6B
GROSS PROFIT	$4.2B
R&D Expenses	$36M
Selling & Marketing	$144M
General & Administrative	$280M
SG&A Expenses	$424M
Other Expenses	-$264M
Operating Expenses	$161M
Cost & Expenses	$11.8B
OPERATING INCOME	$4.4B
Interest Income	$9M
Interest Expense	$40M
Other Income/Expenses	-$360M
INCOME BEFORE TAX	$4.1B
Income Tax Expense	$950M
Net Income from Continuing Ops	$3.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.1B
D&A	$536M
EBIT	$4.3B
EBITDA	$4.8B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$3.1B
Depreciation & Amortization	$536M
Stock-Based Compensation	$13M
Deferred Income Tax	$737M
Other Non-Cash Items	$329M
Change in Working Capital	-$1.4B
OPERATING CASH FLOW	$2.5B
Capital Expenditure	-$643M
Acquisitions (Net)	$23M
Purchases of Investments	-$606M
Sales/Maturities of Investments	$741M
Other Investing Activities	-$118M
NET CASH FROM INVESTING	-$604M
Net Debt Issuance	-$935M
Common Stock Repurchased	$0
Common Dividends Paid	-$1.1B
Other Financing Activities	$0
NET CASH FROM FINANCING	-$2.0B
FREE CASH FLOW	$1.9B
Net Change in Cash	-$92M

Balance Sheet

Item	Amount
Cash & Equivalents	$838M
Short-Term Investments	$529M
Net Receivables	$1.1B
Inventory	$3.4B
Other Current Assets	$137M
TOTAL CURRENT ASSETS	$6.6B
PP&E (Net)	$3.9B
Goodwill	$2.5B
Intangible Assets	$103M
Long-Term Investments	$673M
Tax Assets	$590M
Other Non-Current Assets	$476M
TOTAL NON-CURRENT ASSETS	$8.3B
TOTAL ASSETS	$14.9B
Account Payables	$1.6B
Short-Term Debt	$356M
Deferred Revenue	$573M
Other Current Liabilities	$276M
TOTAL CURRENT LIABILITIES	$2.8B
Long-Term Debt	$2.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$371M
Other Non-Current Liabilities	$439M
TOTAL NON-CURRENT LIABILITIES	$3.4B
TOTAL LIABILITIES	$6.2B
Common Stock	$3.9B
Additional Paid-In Capital	$0
Retained Earnings	$3.6B
Treasury Stock	-$31M
Accum. Other Comp. Income	$1.7B
Other Equity	-$578M
TOTAL STOCKHOLDERS' EQUITY	$8.6B
Minority Interest	$43M
TOTAL EQUITY	$8.6B
TOTAL LIABILITIES & EQUITY	$14.9B
Total Debt	$3.0B
Net Debt	$2.2B