Investing.com - Gerdau ADR reported on Wednesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Gerdau ADR announced earnings per share of R$0.08 on revenue of R$2.14B. Analysts polled by Investing.com anticipated EPS of R$0.06 on revenue of R$2.02B.
Gerdau ADR shares are down 21.63% from the beginning of the year, still down 28.09% 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 Sherwin-Williams on Tuesday, who reported EPS of R$8.29 on revenue of R$5.12B, compared to forecasts EPS of R$7.78 on revenue of R$5.07B.
Southern Copper had beat expectations on Monday with third quarter EPS of R$0.65 on revenue of R$2.13B, compared to forecast for EPS of R$0.55 on revenue of R$2.03B.
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