Investing.com - Gerdau ADR reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Gerdau ADR announced earnings per share of 0.4279 on revenue of 4.05B. Analysts polled by Investing.com anticipated EPS of 0.409 on revenue of 4.47B.
Gerdau ADR shares are up 12.8% from the beginning of the year, still down 23.66% from its 52 week high of 7.27 set on May 11, 2021. They are outperforming the EUR/USD which is down 0% from the start of the year.
Gerdau ADR follows other major Materials sector earnings this month
Gerdau ADR's report follows an earnings beat by Vale ADR on April 27, who reported EPS of 0.93 on revenue of 10.81B, compared to forecasts EPS of 0.838 on revenue of 11.66B.
Sherwin-Williams had beat expectations on April 26 with first quarter EPS of 1.61 on revenue of 5B, compared to forecast for EPS of 1.54 on revenue of 4.91B.
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