We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
ArcelorMittal (MT) Reports Q3 Earnings: What Key Metrics Have to Say
Read MoreHide Full Article
For the quarter ended September 2023, ArcelorMittal (MT - Free Report) reported revenue of $16.62 billion, down 12.4% over the same period last year. EPS came in at $1.10, compared to $1.54 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $17.08 billion, representing a surprise of -2.69%. The company delivered an EPS surprise of +6.80%, with the consensus EPS estimate being $1.03.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 2,122 Kmt versus the two-analyst average estimate of 2,520.42 Kmt.
Average steel selling price - NAFTA: $1,043 versus $1,018.90 estimated by two analysts on average.
Crude steel production - Brazil: 3,669 Kmt compared to the 3,416.05 Kmt average estimate based on two analysts.
Average steel selling price - Brazil: $932 compared to the $966.08 average estimate based on two analysts.
Crude steel production - Europe: 7,475 Kmt versus 7,716.13 Kmt estimated by two analysts on average.
Shipments Steel - Europe: 6,538 Kmt versus 7,038.54 Kmt estimated by two analysts on average.
Crude steel production - ACIS: 1,925 Kmt compared to the 1,699.82 Kmt average estimate based on two analysts.
Revenue- NAFTA: $3.19 billion versus the two-analyst average estimate of $3.29 billion. The reported number represents a year-over-year change of -7.3%.
Revenue- Brazil: $3.56 billion compared to the $3.37 billion average estimate based on two analysts. The reported number represents a change of +2.1% year over year.
Revenue- Mining: $729 million compared to the $714.36 million average estimate based on two analysts. The reported number represents a change of -1.8% year over year.
Revenue- ACIS: $1.39 billion versus $1.32 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -11.5% change.
Revenue- Europe: $8.89 billion versus the two-analyst average estimate of $9.66 billion. The reported number represents a year-over-year change of -16.8%.
Shares of ArcelorMittal have returned -7.4% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
ArcelorMittal (MT) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, ArcelorMittal (MT - Free Report) reported revenue of $16.62 billion, down 12.4% over the same period last year. EPS came in at $1.10, compared to $1.54 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $17.08 billion, representing a surprise of -2.69%. The company delivered an EPS surprise of +6.80%, with the consensus EPS estimate being $1.03.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 2,122 Kmt versus the two-analyst average estimate of 2,520.42 Kmt.
- Average steel selling price - NAFTA: $1,043 versus $1,018.90 estimated by two analysts on average.
- Crude steel production - Brazil: 3,669 Kmt compared to the 3,416.05 Kmt average estimate based on two analysts.
- Average steel selling price - Brazil: $932 compared to the $966.08 average estimate based on two analysts.
- Crude steel production - Europe: 7,475 Kmt versus 7,716.13 Kmt estimated by two analysts on average.
- Shipments Steel - Europe: 6,538 Kmt versus 7,038.54 Kmt estimated by two analysts on average.
- Crude steel production - ACIS: 1,925 Kmt compared to the 1,699.82 Kmt average estimate based on two analysts.
- Revenue- NAFTA: $3.19 billion versus the two-analyst average estimate of $3.29 billion. The reported number represents a year-over-year change of -7.3%.
- Revenue- Brazil: $3.56 billion compared to the $3.37 billion average estimate based on two analysts. The reported number represents a change of +2.1% year over year.
- Revenue- Mining: $729 million compared to the $714.36 million average estimate based on two analysts. The reported number represents a change of -1.8% year over year.
- Revenue- ACIS: $1.39 billion versus $1.32 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -11.5% change.
- Revenue- Europe: $8.89 billion versus the two-analyst average estimate of $9.66 billion. The reported number represents a year-over-year change of -16.8%.
View all Key Company Metrics for ArcelorMittal here>>>Shares of ArcelorMittal have returned -7.4% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.