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ArcelorMittal (MT) Reports Q3 Earnings: What Key Metrics Have to Say
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ArcelorMittal (MT - Free Report) reported $15.2 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 8.6%. EPS of $0.63 for the same period compares to $1.10 a year ago.
The reported revenue represents a surprise of -3.58% over the Zacks Consensus Estimate of $15.76 billion. With the consensus EPS estimate being $0.58, the EPS surprise was +8.62%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: 1,652 Kmt compared to the 2,177.37 Kmt average estimate based on three analysts.
Shipments Steel - Total: 13.4 Kmt versus the three-analyst average estimate of 13.62 Kmt.
Iron ore shipment - Mining: 6.3 Mmt compared to the 6.55 Mmt average estimate based on three analysts.
Shipments Steel - Europe: 6,803 Kmt versus 6,920.37 Kmt estimated by three analysts on average.
Shipments Steel - Brazil: 3,787 Kmt versus the three-analyst average estimate of 3,632.46 Kmt.
Shipments Steel - NAFTA: 2,408 Kmt compared to the 2,532.9 Kmt average estimate based on three analysts.
Crude steel production - Europe: 7,870 Kmt compared to the 7,576.52 Kmt average estimate based on three analysts.
Revenue- NAFTA: $2.76 billion versus $2.93 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -13.4% change.
Revenue- Brazil: $3.22 billion versus the three-analyst average estimate of $3.17 billion. The reported number represents a year-over-year change of -9.6%.
Segment Revenue- Sustainable Solutions: $2.54 billion versus the three-analyst average estimate of $2.53 billion.
Revenue- Mining: $589 million versus $625.45 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -19.2% change.
Revenue- Europe: $7.14 billion versus $7.20 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -19.7% change.
Shares of ArcelorMittal have returned +3.3% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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ArcelorMittal (MT) Reports Q3 Earnings: What Key Metrics Have to Say
ArcelorMittal (MT - Free Report) reported $15.2 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 8.6%. EPS of $0.63 for the same period compares to $1.10 a year ago.
The reported revenue represents a surprise of -3.58% over the Zacks Consensus Estimate of $15.76 billion. With the consensus EPS estimate being $0.58, the EPS surprise was +8.62%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: 1,652 Kmt compared to the 2,177.37 Kmt average estimate based on three analysts.
- Shipments Steel - Total: 13.4 Kmt versus the three-analyst average estimate of 13.62 Kmt.
- Iron ore shipment - Mining: 6.3 Mmt compared to the 6.55 Mmt average estimate based on three analysts.
- Shipments Steel - Europe: 6,803 Kmt versus 6,920.37 Kmt estimated by three analysts on average.
- Shipments Steel - Brazil: 3,787 Kmt versus the three-analyst average estimate of 3,632.46 Kmt.
- Shipments Steel - NAFTA: 2,408 Kmt compared to the 2,532.9 Kmt average estimate based on three analysts.
- Crude steel production - Europe: 7,870 Kmt compared to the 7,576.52 Kmt average estimate based on three analysts.
- Revenue- NAFTA: $2.76 billion versus $2.93 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -13.4% change.
- Revenue- Brazil: $3.22 billion versus the three-analyst average estimate of $3.17 billion. The reported number represents a year-over-year change of -9.6%.
- Segment Revenue- Sustainable Solutions: $2.54 billion versus the three-analyst average estimate of $2.53 billion.
- Revenue- Mining: $589 million versus $625.45 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -19.2% change.
- Revenue- Europe: $7.14 billion versus $7.20 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -19.7% change.
View all Key Company Metrics for ArcelorMittal here>>>Shares of ArcelorMittal have returned +3.3% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.