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 0.3849 on revenue of 3.82B. Analysts polled by Investing.com anticipated EPS of 0.368 on revenue of 3.55B.
Gerdau ADR shares are up 6.53% from the beginning of the year, still down 31.57% 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 0.50% in intra-day trade following the report.
Gerdau ADR follows other major Basic Materials sector earnings this month
Gerdau ADR's report follows an earnings missed by Sherwin-Williams on Tuesday, who reported EPS of 2.09 on revenue of 5.15B, compared to forecasts EPS of 2.13 on revenue of 5.09B.
BASF ADR had beat expectations on Wednesday with third quarter EPS of 0.4522 on revenue of 22.8B, compared to forecast for EPS of 0.4387 on revenue of 20.64B.
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