Wall Street analysts forecast that ArcelorMittal (MT) will report quarterly earnings of $0.72 per share in its upcoming release, pointing to a year-over-year decline of 30.8%. It is anticipated that revenues will amount to $15.67 billion, exhibiting an increase of 5.9% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 10% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
In light of this perspective, let's dive into the average estimates of certain ArcelorMittal metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus estimate for 'Sales- North America' stands at $3.41 billion. The estimate suggests a change of +18.4% year over year.
The consensus among analysts is that 'Sales- Brazil' will reach $2.53 billion. The estimate indicates a year-over-year change of -4.4%.
The combined assessment of analysts suggests that 'Sales- Sustainable Solutions' will likely reach $2.31 billion. The estimate indicates a change of -10.6% from the prior-year quarter.
According to the collective judgment of analysts, 'Sales- Mining' should come in at $850.98 million. The estimate indicates a year-over-year change of +15.8%.
The average prediction of analysts places 'Crude steel production - Total' at 14 millions of metric ton. The estimate compares to the year-ago value of 15 millions of metric ton.
Based on the collective assessment of analysts, 'Europe - Long shipments' should arrive at 1983 thousands metric tons. Compared to the current estimate, the company reported 2111 thousands metric tons in the same quarter of the previous year.
Analysts' assessment points toward 'North America - Average steel selling price' reaching $1085.29 . Compared to the current estimate, the company reported $902.00 in the same quarter of the previous year.
Analysts forecast 'Brazil - Crude steel production' to reach 3599 thousands metric tons. Compared to the current estimate, the company reported 3579 thousands metric tons in the same quarter of the previous year.
Analysts predict that the 'Brazil - Average steel selling price' will reach $734.39 . Compared to the current estimate, the company reported $774.00 in the same quarter of the previous year.
It is projected by analysts that the 'Europe - Crude steel production' will reach 7753 thousands metric tons. The estimate compares to the year-ago value of 7987 thousands metric tons.
The collective assessment of analysts points to an estimated 'Europe - Average steel selling price' of $935.32 . The estimate is in contrast to the year-ago figure of $834.00 .
Analysts expect 'North America - Steel shipments' to come in at 2671 thousands metric tons. Compared to the present estimate, the company reported 2643 thousands metric tons in the same quarter last year.
View all Key Company Metrics for ArcelorMittal here>>>Over the past month, ArcelorMittal shares have recorded returns of +21.7% versus the Zacks S&P 500 composite's +12.8% change. Based on its Zacks Rank #3 (Hold), MT will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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