Wall Street analysts forecast that ArcelorMittal (MT) will report quarterly earnings of $1.18 per share in its upcoming release, pointing to a year-over-year decline of 10.6%. It is anticipated that revenues will amount to $16.82 billion, exhibiting an increase of 5.6% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 2.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific ArcelorMittal metrics that are commonly monitored and projected by Wall Street analysts.
The average prediction of analysts places 'Sales- North America' at $3.56 billion. The estimate indicates a change of +14.8% from the prior-year quarter.
Analysts expect 'Sales- Brazil' to come in at $2.98 billion. The estimate indicates a change of +5.7% from the prior-year quarter.
The combined assessment of analysts suggests that 'Sales- Sustainable Solutions' will likely reach $2.36 billion. The estimate indicates a year-over-year change of -13.3%.
Analysts predict that the 'Sales- Mining' will reach $893.21 million. The estimate suggests a change of +4.2% year over year.
The consensus among analysts is that 'Crude steel production - Total' will reach 14 millions of metric ton. The estimate compares to the year-ago value of 14 millions of metric ton.
Based on the collective assessment of analysts, 'Europe - Long shipments' should arrive at 2001 thousands metric tons. The estimate is in contrast to the year-ago figure of 2073 thousands metric tons.
According to the collective judgment of analysts, 'North America - Average steel selling price' should come in at $1106.41 . The estimate compares to the year-ago value of $1002.00 .
The collective assessment of analysts points to an estimated 'Brazil - Crude steel production' of 3598 thousands metric tons. Compared to the present estimate, the company reported 3540 thousands metric tons in the same quarter last year.
Analysts' assessment points toward 'Brazil - Average steel selling price' reaching $779.35 . Compared to the present estimate, the company reported $747.00 in the same quarter last year.
Analysts forecast 'Europe - Crude steel production' to reach 7650 thousands metric tons. Compared to the current estimate, the company reported 7530 thousands metric tons in the same quarter of the previous year.
The consensus estimate for 'Europe - Average steel selling price' stands at $968.09 . Compared to the present estimate, the company reported $926.00 in the same quarter last year.
It is projected by analysts that the 'North America - Steel shipments' will reach 2684 thousands metric tons. The estimate is in contrast to the year-ago figure of 2531 thousands metric tons.
View all Key Company Metrics for ArcelorMittal here>>>Shares of ArcelorMittal have demonstrated returns of +13.2% over the past month compared to the Zacks S&P 500 composite's +1.7% change. With a Zacks Rank #3 (Hold), MT is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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