CSN Siderurgica reports 5.00 percent EBITDA growth: what it means for CSN Siderurgica stock

Published on 10/01/2026 at 21:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

CSN reported 5.00 percent EBITDA growth in the second quarter of 2026. For CSN Siderurgica stock, free cash flow reached BRL 808 million.

CSN Siderurgica, BRCSNAACNOR6, Illustration mit AI erstellt.

CSN Siderurgica (BRCSNAACNOR6) reported 5.00 percent consolidated EBITDA growth in the second quarter of 2026, with free cash flow reaching BRL 808 million, according to ScanX News on September 18, 2026. The result puts operational cash generation at the center of the investment case, while the balance sheet remains the key counterweight.

Cash flow improves in the second quarter

The BRL 808 million free cash flow in the second quarter marked a reversal from previous negative quarters. ScanX News also reported that the company issued new 2030 bonds with 77.00 percent adherence, linking the cash improvement to working-capital releases and refinancing efforts.

The operating picture improved across several divisions. Steel margins returned to 10.50 percent, domestic sales increased 10.00 percent year over year, and European sales rose 36.00 percent annually in the second quarter of 2026, according to ScanX News. The combination gives the results a clear operating improvement, but it does not remove financing pressure.

Leverage still shapes the outlook

Net debt leverage increased from 3.36x to 3.49x in the second quarter of 2026, even as free cash flow turned positive. The contrast matters because cash generation and debt reduction are not moving in lockstep, leaving asset sales and refinancing central to the next phase of the restructuring.

Finance News reported on September 5, 2026 that Moody's Local Brasil kept CSN's rating under review for a possible downgrade. The agency cited a 5.40x adjusted gross leverage ratio at the end of the second quarter and stressed the importance of asset sales and stronger steel profitability for the capital structure.

NYSE value and operating scale

At the NYSE, SID was trading at USD 1.10 on October 1, 2026 at 2:59 p.m. ET, while its market capitalization was USD 1.5 billion on the same date. The company operates across steel, mining, logistics, energy, and cement, a diversification that helped offset segment-specific pressure in the second quarter.