ArcelorMittal's Earnings Top Estimates, Revenues Lag in Q3

Zacks11-15 19:20

ArcelorMittal MT posted adjusted earnings of $488 million or 63 cents per share for the third quarter of 2024 compared with $929 million or $1.11 per share in the year-ago quarter. The figure topped ...

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The figure topped ...</p>\n\n<a href=\"https://finance.yahoo.com/news/arcelormittals-earnings-top-estimates-revenues-112000534.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PPG","symbol_name":"PPG工业","start_time":0,"source_url":"https://finance.yahoo.com/news/arcelormittals-earnings-top-estimates-revenues-112000534.html","article_id":"2483378869","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/ShfhwtDyA2WzDBKdAL7M8Q--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/6f2cab89bf2cbad1966358e04258e202"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483378869","pubTimestamp":1731669600,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"ArcelorMittal MT posted adjusted earnings of $488 million or 63 cents per share for the third quarter of 2024 compared with $929 million or $1.11 per share in the year-ago quarter. The figure topped the Zacks Consensus Estimate of 58 cents.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Total sales decreased 8.5% year over year to $15,196 million in the quarter. The figure missed the Zacks Consensus Estimate of $15,760.4 million. The decline was due to lower average selling prices across segments.Shares of ArcelorMittal have gained 4.6% in a year compared with a 7.4% decline of the industry.MT currently carries a Zacks Rank #3 . You can see the complete list of today’s Zacks #1 Rank  stocks here.CF Industries Holdings Inc. CF logged earnings of $1.55 per share f","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PPG":"PPG工业","CF":"CF工业","MT":"安赛乐米塔尔","AMSYF":"ArcelorMittal"},"translate_title":"安赛乐米塔尔盈利最高预期，第三季度收入滞后","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMSYF":1,"CF":0.9,"MT":0.9,"PPG":0.9},"content_text":"ArcelorMittal MT posted adjusted earnings of $488 million or 63 cents per share for the third quarter of 2024 compared with $929 million or $1.11 per share in the year-ago quarter. The figure topped the Zacks Consensus Estimate of 58 cents. Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Total sales decreased 8.5% year over year to $15,196 million in the quarter. The figure missed the Zacks Consensus Estimate of $15,760.4 million. The decline was due to lower average selling prices across segments.\n\nArcelorMittal Price, Consensus and EPS Surprise\n  \nArcelorMittal price-consensus-eps-surprise-chart | ArcelorMittal Quote\n\nMT’s Segment Highlights\nNorth America: Sales declined 15.6% year over year to $2.8 billion in the reported quarter. Crude steel production declined 22.1% to 1.652 million metric tons. Steel shipments fell around 4% year over year to 2.4 million metric tons. Average steel selling price decreased 8.4% to $955 per ton.Brazil: Sales decreased 11.1% year over year to $3.2 billion. Crude steel production rose roughly 35% to 3.8 million metric tons. Shipments increased 5.5% year over year to 3.8 million metric tons. Average steel selling price went down 15.5% to $787 per ton.Europe: Sales decreased 2.7% year over year to $7.1 billion. Crude steel production rose 6.7% to 7.9 million metric tons in the reported quarter. Shipments rose 6.25% year over year to 6.8 million metric tons. Average steel selling price went down 6.6% to $915 per ton.Mining: Sales declined 19.2% year over year to around $0.6 billion. Iron ore production totaled 6.6 million metric tons, down 1.5% from the year-ago quarter. Iron ore shipments were flat year over year at 6.3 million metric tons.\nMT’s Financials\nThe company generated $2.8 billion in investable cash flow, with $0.6 billion devoted to mergers and acquisitions (M&A), $1.5 billion spent in strategic growth capex projects and $2 billion returned to ArcelorMittal shareholders while maintaining a healthy balance sheet.\nMT’s Outlook\nThe company anticipates capital expenditure for 2024 to remain within the previous view of $4.5 billion to $5 billion. MT’s strategic expansion projects are expected to increase EBITDA and investable cash flow in future periods. ArcelorMittal is optimizing its decarbonization strategy to maintain competitiveness and profitability. Its global asset portfolio positions it to capitalize on the expected growth in steel demand over the medium/long term. The company prioritizes safety, growth projects and shareholder returns while maintaining a strong balance sheet.\nMT’s Stock Price Performance\nShares of ArcelorMittal have gained 4.6% in a year compared with a 7.4% decline of the industry.\nImage Source: Zacks Investment Research\nMT's Zacks Rank & Other Basic Materials Releases\nMT currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.CF Industries Holdings Inc. CF logged earnings of $1.55 per share for the third quarter, topping the Zacks Consensus Estimate of $1.05. CF anticipates the global supply-demand balance to remain constructive, as inventories are believed to be below average globally while energy spreads remain significant between North America and high-cost production in Europe. ICL Group Ltd ICL recorded adjusted earnings of 11 cents per share for the third quarter, topping the Zacks Consensus Estimate of 8 cents. ICL raised its guidance for full-year 2024.PPG Industries, Inc. PPG logged third-quarter adjusted earnings per share of $2.13, missing the Zacks Consensus Estimate of $2.15. PPG anticipates flat organic sales and adjusted earnings per share at the bottom end of the $8.15 to $8.30 range for full-year 2024. \nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nArcelorMittal (MT) : Free Stock Analysis Report\nPPG Industries, Inc. (PPG) : Free Stock Analysis Report\nCF Industries Holdings, Inc. (CF) : Free Stock Analysis Report\nICL Group Ltd. (ICL) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483378869"}