October 30, 2019 / 11:27 AM / 13 days ago

Brazil steelmaker Gerdau profit tumbles 63.5%, missing estimates

SAO PAULO, Oct 30 (Reuters) - Brazilian steelmaker Gerdau SA on Wednesday reported a 63.5% fall in third-quarter net income, missing market expectations.

In a securities filing, the company reported quarterly net income of 289 million reais ($72.28 million), well below a consensus estimate of 393.9 million reais compiled by Refinitiv.

$1 = 3.9985 reais Reporting by Gabriela Mello; editing by Jason Neely

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