SID, US2044121057

Companhia Siderurgica Nacional stock falls as Q2 2026 EBITDA rises and asset-sale plan lifts bonds

Published on 09/18/2026 at 21:42 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Companhia Siderurgica Nacional stock closed at USD 1.18 on September 17, 2026, down 2.48 percent on the New York Stock Exchange. The move comes as Q2 2026 EBITDA rose 5 percent and investors focus on debt reduction and planned asset sales.

SID, US2044121057, Illustration mit AI erstellt.

Companhia Siderurgica Nacional stock (ISIN US2044121057) closed at USD 1.18 on the New York Stock Exchange on September 17, 2026, down 2.48 percent from the prior session as investors balanced improving operating figures with a still-elevated debt load.

Q2 2026 EBITDA up 5 percent and cash flow turns positive

According to Scanx Trade on September 18, 2026, Companhia Siderurgica Nacional reported a 5 percent year-on-year increase in consolidated EBITDA for the second quarter of 2026, driven by broad-based operational improvements across its steel, mining and cement operations.

In the same Q2 2026 report, the company generated positive free cash flow of BRL 808 million, a clear turnaround compared with previous quarters in which free cash flow had been negative, highlighting tighter control of working capital and capital expenditure, as summarized by Scanx Trade.

The cement division stood out in Q2 2026 with record segment EBITDA for the second consecutive quarter and margins above 30 percent, underscoring how downstream construction-materials exposure is helping to offset more cyclical swings in steel demand, as noted by Scanx Trade.

Debt, bonds and asset-sale plan shape investor view

Despite the improvement in earnings and cash generation, CSN still carries substantial leverage, with net debt-to-EBITDA rising modestly from 3.36 times to 3.49 times in the Q2 2026 snapshot as described by Scanx Trade, a level that keeps balance-sheet risk in focus for equity and credit investors.

As part of its financing strategy, CSN issued new 2030 bonds via its subsidiary CSN Inova Ventures, with 77 percent adherence in a private exchange offer for outstanding 6.750 percent senior notes due 2028, a transaction completed in August 2026 that is meant to smooth the maturity profile, according to Scanx Trade.

Bond investors have reacted positively to the combination of stronger EBITDA, the exchange offer and a more aggressive asset-sale agenda under new leadership: external debt securities of Companhia Siderurgica Nacional have been among the best performers in emerging markets since the appointment of a new chief executive, with expectations that the asset-disposal program will finally accelerate and help reduce leverage, as reported by Valor Econômico on September 18, 2026.

Equity investors, however, remain more cautious, with Companhia Siderurgica Nacional stock lagging regional peers in the latest session: CSN’s New York listing was the only major Latin American steel name to decline, falling 2.48 percent to USD 1.18 on the session referenced, while Gerdau and Ternium posted gains, according to The Rio Times on September 18, 2026.

Analyst stance and current stock price on the NYSE

According to data compiled by MarketBeat in a note dated September 17, 2026, National Steel Company, which corresponds to Companhia Siderurgica Nacional’s New York listing under the ticker SID, carries an average analyst rating of Strong Sell based on three research analysts who currently rate the stock Sell, and the same overview cites a consensus price target of USD 1.40, implying limited upside of around 18.6 percent from the latest close.

The latest reference price for Companhia Siderurgica Nacional stock on its primary listing venue shows SID at USD 1.18 on the New York Stock Exchange as of September 17, 2026, down USD 0.03 or 2.48 percent on the day with trading volume of 8,822,709 shares and a 52-week trading range between USD 0.84 and USD 2.20, per price data presented by CNBC.

From a positioning perspective, the latest short-interest discussion indicates that SID has seen a sizable decline in short positions recently, suggesting that some bearish investors have started to reduce exposure even as the consensus rating remains cautious, a dynamic highlighted by MarketBeat.

SID stock trades near the lower half of its 52-week range

Companhia Siderurgica Nacional stock on the New York Stock Exchange thus currently trades closer to the lower end of its 52-week corridor, at USD 1.18 compared with the 52-week low of USD 0.84 and the high of USD 2.20 as of September 17, 2026, which reflects lingering concern about leverage and execution risk around the asset-sale program even as Q2 2026 EBITDA and free cash flow show measurable improvement.