On Tuesday, August 4, 2026, Metalúrgica Gerdau (GOAU4) reported adjusted net income of R$ 1.464 bn in the second quarter of 2026, up 44.7% versus 1Q26 and 69.7% versus 2Q25. In the same period, steel sales totaled 2.9 million tonnes and net revenue reached R$ 17.871 bn.
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was R$ 3.426 bn in 2Q26, an increase of 15.9% over the immediately preceding quarter and 33.9% compared to 2Q25, with an adjusted EBITDA margin of 19.2%. Earnings per share came to R$ 0.39, versus R$ 0.27 in 1Q26.
In the first half of 2026 as a whole, Metalúrgica Gerdau (GOAU3, GOAU4) posted net revenue of R$ 34.586 bn, slightly below the R$ 34.901 bn in 6M25, and adjusted EBITDA of R$ 6.381 bn, an increase of 28.8% year over year. Adjusted net income for the period was R$ 2.476 bn, 53.0% higher than in the first half of 2025.
The company closed June 2026 with net debt of R$ 8.087 bn and a net debt/adjusted EBITDA ratio of 0.69x, below the 0.73x at the end of 1Q26 and 0.85x in June 2025. Free cash flow in 2Q26 was a positive R$ 235 mn, compared to R$ 8 mn in 1Q26 and a negative flow of R$ 774 mn in 2Q25.
Based on the 2Q26 results, the board approved dividends of R$ 0.11 per share, totaling R$ 145.5 mn, to be paid on September 14, 2026, with a record date of August 19. The company also maintained the 2026 Share Repurchase Program, with around 2.2 million preferred shares repurchased through July 17, equivalent to approximately 22% of the maximum authorized amount.
