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Gerdau SA and Gerdau Ameristeel Q2 results

August 7th, 2008 by Tony Taccone in Finance, Gerdau, Gerdau Ameristeel

Gerdau SA and Gerdau Ameristeel reported Q2 results today. Gerdau SA’s results can be found here and Gerdau Ameristeel’s results can be found here. EBITDA per ton was strong for both companies - $260 for Gerdau SA and $197 for Gerdau Ameristeel. You can compare these results to other companies on the Nerds of Steel earnings spreadsheet.

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    2 Responses to “Gerdau SA and Gerdau Ameristeel Q2 results”

    1. acidkoolaid Says:
      August 7th, 2008 at 5:32 pm

      I invested in US Steel a couple of days after they reported earnings (end of a day when DJI was down 220 pts). It has buy rating with expectation price of $220 - $250. Although the market had two days since that time where DJI was over 220 pts, the stock dropped down to $136. WHAT AM I MISSING HERE ABOUT STEEL STOCK?

    2. Tony Taccone Says:
      August 8th, 2008 at 7:49 am

      acidkoolaid. As a matter of policy, we don’t comment about individual company valuations. What we have said publicly is that steel companies as a group are undervalued relative to other sectors on measure like EV/EBITDA. The main reason seems to be investor skittishness or lack of conviction about the sector’s prospects in the face of economic weakness.

      So to answer your question, I’m not sure what you’re missing, or that you’re missing anything. As Warren Buffet said: “You’re neither right nor wrong because other people agree with you. You’re right because your facts are right and your reasoning is right.”

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