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Compared to Estimates, ArcelorMittal (MT) Q4 Earnings: A Look at Key Metrics
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For the quarter ended December 2023, ArcelorMittal (MT - Free Report) reported revenue of $14.55 billion, down 13.9% over the same period last year. EPS came in at $1.18, compared to $1.37 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $14.95 billion, representing a surprise of -2.67%. The company delivered an EPS surprise of +156.73%, with the consensus EPS estimate being -$2.08.
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:
Shipments Steel - Brazil: 3,562 Kmt versus 3,111.53 Kmt estimated by two analysts on average.
Shipments Steel - ACIS: 1,323 Kmt compared to the 1,272.34 Kmt average estimate based on two analysts.
Shipments Steel - Europe: 6,507 Kmt versus 6,358.54 Kmt estimated by two analysts on average.
Crude steel production - NAFTA: 2,185 Kmt versus 2,353.14 Kmt estimated by two analysts on average.
Average steel selling price - NAFTA: $948 versus $961.04 estimated by two analysts on average.
Shipments Steel - NAFTA: 2,590 Kmt versus the two-analyst average estimate of 2,283.48 Kmt.
Average steel selling price - Brazil: $852 versus the two-analyst average estimate of $930.02.
Revenue- NAFTA: $2.94 billion versus the two-analyst average estimate of $2.86 billion. The reported number represents a year-over-year change of +0.7%.
Revenue- Brazil: $2.71 billion versus $2.94 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -6.4% change.
Revenue- Mining: $764 million versus $667.55 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +6.7% change.
Revenue- ACIS: $1.20 billion versus $1.05 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -2.4% change.
Revenue- Europe: $7.99 billion versus the two-analyst average estimate of $8.30 billion. The reported number represents a year-over-year change of -20.7%.
Shares of ArcelorMittal have returned +0.9% over the past month versus the Zacks S&P 500 composite's +6.5% 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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Compared to Estimates, ArcelorMittal (MT) Q4 Earnings: A Look at Key Metrics
For the quarter ended December 2023, ArcelorMittal (MT - Free Report) reported revenue of $14.55 billion, down 13.9% over the same period last year. EPS came in at $1.18, compared to $1.37 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $14.95 billion, representing a surprise of -2.67%. The company delivered an EPS surprise of +156.73%, with the consensus EPS estimate being -$2.08.
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:
- Shipments Steel - Brazil: 3,562 Kmt versus 3,111.53 Kmt estimated by two analysts on average.
- Shipments Steel - ACIS: 1,323 Kmt compared to the 1,272.34 Kmt average estimate based on two analysts.
- Shipments Steel - Europe: 6,507 Kmt versus 6,358.54 Kmt estimated by two analysts on average.
- Crude steel production - NAFTA: 2,185 Kmt versus 2,353.14 Kmt estimated by two analysts on average.
- Average steel selling price - NAFTA: $948 versus $961.04 estimated by two analysts on average.
- Shipments Steel - NAFTA: 2,590 Kmt versus the two-analyst average estimate of 2,283.48 Kmt.
- Average steel selling price - Brazil: $852 versus the two-analyst average estimate of $930.02.
- Revenue- NAFTA: $2.94 billion versus the two-analyst average estimate of $2.86 billion. The reported number represents a year-over-year change of +0.7%.
- Revenue- Brazil: $2.71 billion versus $2.94 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -6.4% change.
- Revenue- Mining: $764 million versus $667.55 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +6.7% change.
- Revenue- ACIS: $1.20 billion versus $1.05 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -2.4% change.
- Revenue- Europe: $7.99 billion versus the two-analyst average estimate of $8.30 billion. The reported number represents a year-over-year change of -20.7%.
View all Key Company Metrics for ArcelorMittal here>>>Shares of ArcelorMittal have returned +0.9% over the past month versus the Zacks S&P 500 composite's +6.5% 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.