Brazil's Gerdau beats fourth-quarter profit estimates

Reuters

SAO PAULO, Feb 21 (Reuters) - Brazilian steelmaker Gerdau SA beat profit estimates for the fourth quarter as expenses fell faster than revenue in a traditionally weak period for output and sales.

Porto Alegre, Brazil-based Gerdau on Friday posted net income of 491.6 million reais ($207 million), above the 427 million reais estimated in a Reuters poll of six analysts.

View Comments (1)