Gerdau hit by higher costs, heavy rains in Q1

May 07, 2012 | 02:54 AM |

Gerdau’s earnings dropped 9% in the first quarter, as the Brazilian steelmaker dealt with higher costs as well as weather disruption in Brazil. Core earnings, before interest, taxes, depreciation and amortisation (Ebitda) fell to 1 billion Reais ($517 million), and net profit went down by 3% to 397 million Reais. Gerdau’s cost of goods sold increased from....

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