GGB Q3 2021 Earnings Report — Gerdau S.A. Revenue & Financial Results | Market Cap Arena

Q3 2021 Earnings

Reported October 27, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2021	Q2 2021	Q3 2020	QoQ Change	YoY Change
Revenue	$4.3B	$3.9B	$2.5B	11.4%	74.4%
Op. Income	$1.5B	$1.1B	$264M	32.8%	463.3%
Gross Margin	30.1%	28.3%	13.9%	1.8pp	16.2pp
Net Margin	26.2%	20.5%	6.5%	5.7pp	19.7pp
EPS (Diluted)	$0.62	$0.44	$0.09	42.2%	604.5%
Free Cash Flow	$351M	-$12M	$424M	2970.6%	-17.3%

Revenue Flow

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$3.0B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$38M
General & Administrative	$68M
SG&A Expenses	$106M
Other Expenses	$280M
Operating Expenses	$74M
Cost & Expenses	$3.1B
OPERATING INCOME	$1.5B
Interest Income	$2M
Interest Expense	$10M
Other Income/Expenses	$285M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$377M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$136M
EBIT	$1.6B
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$3.0B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$38M
General & Administrative	$68M
SG&A Expenses	$106M
Other Expenses	$280M
Operating Expenses	$74M
Cost & Expenses	$3.1B
OPERATING INCOME	$1.5B
Interest Income	$2M
Interest Expense	$10M
Other Income/Expenses	$285M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$377M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$136M
EBIT	$1.6B
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$136M
Stock-Based Compensation	$3M
Deferred Income Tax	$383M
Other Non-Cash Items	-$852M
Change in Working Capital	-$278M
OPERATING CASH FLOW	$519M
Capital Expenditure	-$168M
Acquisitions (Net)	$2M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$2M
NET CASH FROM INVESTING	-$167M
Net Debt Issuance	$6M
Common Stock Repurchased	$0
Common Dividends Paid	-$186M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$180M
FREE CASH FLOW	$351M
Net Change in Cash	$191M

Balance Sheet

Item	Amount
Cash & Equivalents	$801M
Short-Term Investments	$897M
Net Receivables	$2.2B
Inventory	$3.2B
Other Current Assets	$120M
TOTAL CURRENT ASSETS	$7.1B
PP&E (Net)	$3.8B
Goodwill	$2.5B
Intangible Assets	$102M
Long-Term Investments	$600M
Tax Assets	$463M
Other Non-Current Assets	$553M
TOTAL NON-CURRENT ASSETS	$8.0B
TOTAL ASSETS	$15.2B
Account Payables	$1.5B
Short-Term Debt	$150M
Deferred Revenue	$808M
Other Current Liabilities	$222M
TOTAL CURRENT LIABILITIES	$2.7B
Long-Term Debt	$3.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$267M
Other Non-Current Liabilities	$507M
TOTAL NON-CURRENT LIABILITIES	$4.2B
TOTAL LIABILITIES	$6.9B
Common Stock	$3.9B
Additional Paid-In Capital	$0
Retained Earnings	$3.4B
Treasury Stock	-$31M
Accum. Other Comp. Income	$1.6B
Other Equity	-$578M
TOTAL STOCKHOLDERS' EQUITY	$8.3B
Minority Interest	$43M
TOTAL EQUITY	$8.3B
TOTAL LIABILITIES & EQUITY	$15.2B
Total Debt	$3.6B
Net Debt	$2.8B