ArcelorMittal (MT) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, ArcelorMittal (MT) 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.
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