Gerdau’s net income down 27% in 2d qtr.

Aug 02, 2013 | 10:44 AM | Ana Paula Camargo

Tags  Gerdau, quarterly earnings, steel, steel exports, steel shipments, Brazil exports, Ana Paula Camargo

SÃO PAULO — Gerdau SA’s net profit declined nearly 27 percent year on year in the second quarter of 2013, reflecting a reduction in operating income over the three-month period.

Net income totaled 401 million reais ($175.4 million) during the quarter, down from 549 million reais in the same 2012 period, the Brazilian steelmaker said Aug. 1. However, compared with the first quarter of 2013 net income more than doubled from 160 million reais, mainly due....





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