SAO PAULO, May 3 (Reuters) - Brazilian steelmaker Gerdau
SA on Wednesday reported a first quarter net profit
of 3.2 billion reais ($635.08 million), up 9.4% year-on-year and
ahead of analysts' estimates of 2.12 billion in a Refinitiv
poll.
The company posted an adjusted EBITDA (earnings before
interest, taxes, depreciation, and amortization) of 4.3 billion
reais, its second-largest ever for a first quarter, saying that
was driven by "improved volumes and lower costs despite a
challenging start to the year".
($1 = 5.0387 reais)
(Reporting by Alberto Alerigi Jr.; Editing by Steven Grattan)
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