Investing.com - Gerdau ADR reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Gerdau ADR announced earnings per share of 0.3738 on revenue of 3.64B. Analysts polled by Investing.com anticipated EPS of 0.3624 on revenue of 3.52B.
Gerdau ADR shares are up 26.34% from the beginning of the year, still down 18.84% from its 52 week high of 7.27 set on May 11. They are outperforming the EUR/USD which is down 0% from the start of the year.
Gerdau ADR shares lost 1.50% in intra-day trade following the report.
Gerdau ADR follows other major Materials sector earnings this month
Gerdau ADR's report follows an earnings matched by Vale ADR on July 29, who reported EPS of 1.48 on revenue of 16.68B, compared to forecasts EPS of 1.48 on revenue of 16.83B.
Sherwin-Williams had missed expectations on July 27 with second quarter EPS of 2.65 on revenue of 5.38B, compared to forecast for EPS of 2.67 on revenue of 5.39B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar