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ArcelorMittal (MT) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2023, ArcelorMittal (MT - Free Report) reported revenue of $18.61 billion, down 16% over the same period last year. EPS came in at $2.20, compared to $4.24 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $19.25 billion, representing a surprise of -3.35%. The company delivered an EPS surprise of +21.55%, with the consensus EPS estimate being $1.81.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ArcelorMittal performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Crude steel production - NAFTA: 2244 Kmt versus 2268.39 Kmt estimated by two analysts on average.
Crude steel production - Brazil: 3732 Kmt compared to the 3545.69 Kmt average estimate based on two analysts.
Crude steel production - Europe: 6943 Kmt compared to the 8271.99 Kmt average estimate based on two analysts.
Crude steel production - ACIS: 1768 Kmt compared to the 1493.73 Kmt average estimate based on two analysts.
Average steel selling price - NAFTA: $1,116 versus $1,060.22 estimated by two analysts on average.
Shipments Steel - ACIS: 1497 Kmt versus the two-analyst average estimate of 1444 Kmt.
Average steel selling price - Europe: $1,097 versus the two-analyst average estimate of $1,137.48.
Revenue- NAFTA: $3.50 billion versus the two-analyst average estimate of $3.32 billion. The reported number represents a year-over-year change of -4.2%.
Revenue- Brazil: $3.83 billion versus the two-analyst average estimate of $3.37 billion. The reported number represents a year-over-year change of -4%.
Revenue- Mining: $680 million versus $843.89 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -32.3% change.
Revenue- ACIS: $1.39 billion compared to the $1.28 billion average estimate based on two analysts. The reported number represents a change of -6.4% year over year.
Revenue- Europe: $10.52 billion compared to the $10.58 billion average estimate based on two analysts. The reported number represents a change of -21.8% year over year.
Shares of ArcelorMittal have returned +6% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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ArcelorMittal (MT) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, ArcelorMittal (MT - Free Report) reported revenue of $18.61 billion, down 16% over the same period last year. EPS came in at $2.20, compared to $4.24 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $19.25 billion, representing a surprise of -3.35%. The company delivered an EPS surprise of +21.55%, with the consensus EPS estimate being $1.81.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ArcelorMittal performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Crude steel production - NAFTA: 2244 Kmt versus 2268.39 Kmt estimated by two analysts on average.
- Crude steel production - Brazil: 3732 Kmt compared to the 3545.69 Kmt average estimate based on two analysts.
- Crude steel production - Europe: 6943 Kmt compared to the 8271.99 Kmt average estimate based on two analysts.
- Crude steel production - ACIS: 1768 Kmt compared to the 1493.73 Kmt average estimate based on two analysts.
- Average steel selling price - NAFTA: $1,116 versus $1,060.22 estimated by two analysts on average.
- Shipments Steel - ACIS: 1497 Kmt versus the two-analyst average estimate of 1444 Kmt.
- Average steel selling price - Europe: $1,097 versus the two-analyst average estimate of $1,137.48.
- Revenue- NAFTA: $3.50 billion versus the two-analyst average estimate of $3.32 billion. The reported number represents a year-over-year change of -4.2%.
- Revenue- Brazil: $3.83 billion versus the two-analyst average estimate of $3.37 billion. The reported number represents a year-over-year change of -4%.
- Revenue- Mining: $680 million versus $843.89 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -32.3% change.
- Revenue- ACIS: $1.39 billion compared to the $1.28 billion average estimate based on two analysts. The reported number represents a change of -6.4% year over year.
- Revenue- Europe: $10.52 billion compared to the $10.58 billion average estimate based on two analysts. The reported number represents a change of -21.8% year over year.
View all Key Company Metrics for ArcelorMittal here>>>Shares of ArcelorMittal have returned +6% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.