Gerdau：“Steel” feeling the import pressure but seeing signs of improvement

Gerdau "Steel" feeling the import pressure but seeing signs of improvement • Results could have been worse given the challenging steel environment. Gerdau's results fared better than what we expected in light of a still challenging environment. While EBITDA did miss expectations, results would have been closer to in line if not for a R$131mm non-recurring effect associated with shut down Brazilian plants. Without this non-recurring item, Brazilian results would have actually grown sequentially with modest m ...