Usiminas startled investors with a headline net loss of R$3.503 billion ($661 million) in the third quarter, sending its shares down about 7.6% to R$4.59 ($0.87). The shock number masks what actually happened: the company took two big non-cash charges—an asset impairment of R$2.2 billion ($415 million) and a reassessment of deferred tax assets of […]
