Gerdau SA, a leading Brazilian steel producer, saw its stock price plummet by 5.26% on Thursday in the intraday trading session. This sharp decline came after the company reported a decrease in its fourth-quarter earnings for 2024.
According to the earnings report, Gerdau's Q4 earnings per share dropped to 0.15 Brazilian reais ($0.03), down from 0.27 reais in the same period a year earlier. While the company's net sales for the quarter increased to 16.82 billion reais from 14.72 billion reais a year ago, surpassing analysts' expectations of 16.12 billion reais, the lower earnings figures appeared to weigh heavily on investor sentiment.
The disappointing earnings results raised concerns among investors regarding Gerdau's profitability and future growth prospects, leading to a significant sell-off in the company's shares.
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