03:51 AM EDT, 08/01/2024 (MT Newswires) -- Gerdau ( GGB ) reported late Wednesday Q2 adjusted net income of 945 million Brazilian reais ($167 million), down from 2.14 billion reais a year earlier.

Analysts polled by Capital IQ expected 855.6 million reais.

Net sales for the quarter were 16.62 billion reais, down from 18.27 billion reais a year earlier.

Analysts polled by Capital IQ expected 16.71 billion reais.

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