Investing.com - Gerdau ADR reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Gerdau ADR announced earnings per share of 0.4162 on revenue of 4.27B. Analysts polled by Investing.com anticipated EPS of 0.3933 on revenue of 3.71B.
Gerdau ADR shares are down 0.81% from the beginning of the year, still down 32.87% from its 52 week high of 7.27 set on May 11, 2021. They are under-performing the EUR/USD which is down 0% from the start of the year.
Gerdau ADR shares lost 2.79% in intra-day trade following the report.
Gerdau ADR follows other major Materials sector earnings this month
Gerdau ADR's report follows an earnings missed by Freeport-McMoran on January 26, who reported EPS of 0.96 on revenue of 6.16B, compared to forecasts EPS of 0.9703 on revenue of 6.44B.
Air Products had beat expectations on February 4 with first quarter EPS of 2.52 on revenue of 2.99B, compared to forecast for EPS of 2.5 on revenue of 2.74B.
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