Investing.com - Gerdau ADR reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Gerdau ADR announced earnings per share of R$0 on revenue of R$1.66B. Analysts polled by Investing.com anticipated EPS of R$-0.01 on revenue of R$1.56B.
Gerdau ADR shares are down 28.98% from the beginning of the year, still down 34.83% from its 52 week high of R$5.34 set on January 24. They are under-performing 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 Air Products on July 23, who reported EPS of R$2.01 on revenue of R$2.07B, compared to forecasts EPS of R$1.98 on revenue of R$2.06B.
Vale ADR had missed expectations on July 30 with second quarter EPS of R$0.19 on revenue of R$7.52B, compared to forecast for EPS of R$0.29 on revenue of R$7.56B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar