GGB FY 2022 Earnings Report — Gerdau S.A. Revenue & Financial Results | Market Cap Arena

FY 2022 Earnings

Reported December 31, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$16.6B	—	$15.8B	—	5.2%
Op. Income	$3.5B	—	$4.4B	—	-21.3%
Gross Margin	22.8%	—	26.6%	—	-3.8pp
Net Margin	13.9%	—	19.8%	—	-5.9pp
EPS (Diluted)	$1.25	—	$1.75	—	-28.8%
Free Cash Flow	$1.3B	—	$1.9B	—	-28.5%

Revenue Flow

Item	Amount
REVENUE	$16.6B
Cost of Revenue	$12.8B
GROSS PROFIT	$3.8B
R&D Expenses	$31M
Selling & Marketing	$148M
General & Administrative	$293M
SG&A Expenses	$441M
Other Expenses	-$7M
Operating Expenses	$433M
Cost & Expenses	$13.3B
OPERATING INCOME	$3.5B
Interest Income	$24M
Interest Expense	$38M
Other Income/Expenses	-$304M
INCOME BEFORE TAX	$3.2B
Income Tax Expense	$882M
Net Income from Continuing Ops	$2.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.3B
D&A	$578M
EBIT	$3.4B
EBITDA	$4.0B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$16.6B
Cost of Revenue	$12.8B
GROSS PROFIT	$3.8B
R&D Expenses	$31M
Selling & Marketing	$148M
General & Administrative	$293M
SG&A Expenses	$441M
Other Expenses	-$7M
Operating Expenses	$433M
Cost & Expenses	$13.3B
OPERATING INCOME	$3.5B
Interest Income	$24M
Interest Expense	$38M
Other Income/Expenses	-$304M
INCOME BEFORE TAX	$3.2B
Income Tax Expense	$882M
Net Income from Continuing Ops	$2.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.3B
D&A	$578M
EBIT	$3.4B
EBITDA	$4.0B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$2.3B
Depreciation & Amortization	$578M
Stock-Based Compensation	$21M
Deferred Income Tax	$942M
Other Non-Cash Items	-$692M
Change in Working Capital	-$914M
OPERATING CASH FLOW	$2.2B
Capital Expenditure	-$903M
Acquisitions (Net)	-$5M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$10M
NET CASH FROM INVESTING	-$898M
Net Debt Issuance	-$251M
Common Stock Repurchased	-$216M
Common Dividends Paid	-$1.2B
Other Financing Activities	-$9M
NET CASH FROM FINANCING	-$1.7B
FREE CASH FLOW	$1.3B
Net Change in Cash	-$339M

Balance Sheet

Item	Amount
Cash & Equivalents	$499M
Short-Term Investments	$596M
Net Receivables	$1.0B
Inventory	$3.6B
Other Current Assets	$160M
TOTAL CURRENT ASSETS	$6.3B
PP&E (Net)	$4.3B
Goodwill	$2.2B
Intangible Assets	$84M
Long-Term Investments	$785M
Tax Assets	$436M
Other Non-Current Assets	$725M
TOTAL NON-CURRENT ASSETS	$8.6B
TOTAL ASSETS	$14.9B
Account Payables	$1.3B
Short-Term Debt	$629M
Deferred Revenue	$0
Other Current Liabilities	$302M
TOTAL CURRENT LIABILITIES	$2.7B
Long-Term Debt	$1.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$428M
Other Non-Current Liabilities	$332M
TOTAL NON-CURRENT LIABILITIES	$2.8B
TOTAL LIABILITIES	$5.5B
Common Stock	$3.9B
Additional Paid-In Capital	$0
Retained Earnings	$4.5B
Treasury Stock	-$36M
Accum. Other Comp. Income	$1.6B
Other Equity	-$585M
TOTAL STOCKHOLDERS' EQUITY	$9.3B
Minority Interest	$37M
TOTAL EQUITY	$9.3B
TOTAL LIABILITIES & EQUITY	$14.9B
Total Debt	$2.8B
Net Debt	$2.3B