Investing.com - Gerdau ADR reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Gerdau ADR announced earnings per share of 0.2673 on revenue of 3.03B. Analysts polled by Investing.com anticipated EPS of 0.1633 on revenue of 2.69B.
Gerdau ADR shares are up 38.54% from the beginning of the year, still down 1.07% from its 52 week high of 6.54 set on May 5. They are outperforming the EUR/USD which is down 0% from the start of the year.
Gerdau ADR follows other major Basic Materials sector earnings this month
Gerdau ADR's report follows an earnings beat by Vale ADR on April 27, who reported EPS of 1.09 on revenue of 12.65B, compared to forecasts EPS of 1.04 on revenue of 12.93B.
Sherwin-Williams had beat expectations on April 27 with first quarter EPS of 2.06 on revenue of 4.66B, compared to forecast for EPS of 1.64 on revenue of 4.52B.
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