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ArcelorMittal (MT) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2 分鐘文章

For the quarter ended March 2024, ArcelorMittal (MT) reported revenue of $16.28 billion, down 12% over the same period last year. EPS came in at $1.16, compared to $1.27 in the year-ago quarter.

The reported revenue represents a surprise of +2.89% over the Zacks Consensus Estimate of $15.82 billion. With the consensus EPS estimate being $0.93, the EPS surprise was +24.73%.

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.

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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 - Europe: 7,604 Kmt versus 7,315.03 Kmt estimated by three analysts on average.

  • Shipments Steel - Europe: 7,236 Kmt versus the three-analyst average estimate of 6,587.47 Kmt.

  • Shipments Steel - Brazil: 3,180 Kmt versus the three-analyst average estimate of 3,228.44 Kmt.

  • Shipments Steel - NAFTA: 2,796 Kmt versus the three-analyst average estimate of 2,494.99 Kmt.

  • Crude steel production - Brazil: 3,564 Kmt versus the three-analyst average estimate of 3,429.7 Kmt.

  • Crude steel production - NAFTA: 2,180 Kmt compared to the 2,330.98 Kmt average estimate based on three analysts.

  • Average steel selling price - Brazil: $886 versus $903.62 estimated by two analysts on average.

  • Average steel selling price - Europe: $945 versus $1,046.70 estimated by two analysts on average.

  • Revenue- NAFTA: $3.35 billion versus the three-analyst average estimate of $3.09 billion. The reported number represents a year-over-year change of -0.1%.

  • Revenue- Mining: $729 million compared to the $774.01 million average estimate based on three analysts. The reported number represents a change of -19.4% year over year.

  • Revenue- Europe: $7.85 billion versus $8.53 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -28% change.

  • Revenue- Brazil: $3.05 billion compared to the $2.97 billion average estimate based on three analysts. The reported number represents a change of -0.6% year over year.

View all Key Company Metrics for ArcelorMittal here>>>

Shares of ArcelorMittal have returned -9.6% over the past month versus the Zacks S&P 500 composite's -4.2% 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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