Wall Street analysts forecast that ArcelorMittal (MT) will report quarterly earnings of $1.31 per share in its upcoming release, pointing to a year-over-year increase of 107.9%. It is anticipated that revenues will amount to $15.74 billion, exhibiting a decrease of 3.1% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 5.4% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some ArcelorMittal metrics that Wall Street analysts commonly model and monitor.
Analysts predict that the 'Sales- North America' will reach $2.94 billion. The estimate indicates a change of -6.9% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Sales- Brazil' of $2.97 billion. The estimate suggests a change of -8.4% year over year.
It is projected by analysts that the 'Sales- Sustainable Solutions' will reach $2.51 billion. The estimate points to a change of -13.3% from the year-ago quarter.
Analysts forecast 'Sales- Mining' to reach $703.08 million. The estimate points to a change of +9.7% from the year-ago quarter.
Analysts expect 'Crude steel production' to come in at 15 millions of metric ton. The estimate compares to the year-ago value of 15 millions of metric ton.
According to the collective judgment of analysts, 'Crude steel production - North America' should come in at 2167 thousands metric tons. Compared to the current estimate, the company reported 1823 thousands metric tons in the same quarter of the previous year.
The consensus among analysts is that 'Steel shipments - Total' will reach 14 thousands metric tons. The estimate compares to the year-ago value of 14 thousands metric tons.
The average prediction of analysts places 'Iron ore shipment - Mining' at 8 millions of metric ton. Compared to the current estimate, the company reported 6 millions of metric ton in the same quarter of the previous year.
The consensus estimate for 'Steel shipments - Europe' stands at 7554 thousands metric tons. The estimate is in contrast to the year-ago figure of 7407 thousands metric tons.
Based on the collective assessment of analysts, 'Steel shipments - Brazil' should arrive at 3498 thousands metric tons. The estimate is in contrast to the year-ago figure of 3637 thousands metric tons.
Analysts' assessment points toward 'Steel shipments - North America' reaching 2616 thousands metric tons. The estimate compares to the year-ago value of 2486 thousands metric tons.
The combined assessment of analysts suggests that 'Crude steel production - Europe' will likely reach 8047 thousands metric tons. The estimate is in contrast to the year-ago figure of 8041 thousands metric tons.
View all Key Company Metrics for ArcelorMittal here>>>
ArcelorMittal shares have witnessed a change of +4.8% in the past month, in contrast to the Zacks S&P 500 composite's +3.6% move. With a Zacks Rank #3 (Hold), MT is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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ArcelorMittal (MT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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