ArcelorMittal’s 2Q15 earnings
ArcelorMittal (MT) released its 2Q15 earnings on July 31. It reported net earnings of $0.2 billion in 2Q15 compared to a loss of $0.7 billion in 1Q15. ArcelorMittal’s 2Q15 earnings were better than average analyst estimates. In this series, we’ll analyze ArcelorMittal’s 2Q15 earnings in detail. We’ll also explore what factors could drive ArcelorMittal in the coming quarters.
ArcelorMittal’s share price has bounced back somewhat in the last couple of weeks, as you can see in the chart above.
Highlights of the 2Q15 earnings season
Please note that ArcelorMittal’s earnings have come towards the end of earnings season. Let’s look at some of the highlights of the 2Q15 earnings season.
- Steel Dynamics (STLD) released its 2Q15 earnings on July 20. It reported an EPS (earnings per share) of $0.13. The results were in line with market expectations as well as the guidance provided by STLD.
- Nucor (NUE) released its 2Q15 earnings on July 23. It delivered EPS of $0.39 during the quarter—which was better than the average analyst expectations.
- AK Steel released its 2Q15 earnings on July 28. It reported a net loss of $64 million compared to a net loss of $17.1 million in 2Q14.
ArcelorMittal was formed by the merger of Mittal Steel and Arcelor in 2006. It’s based out of Luxembourg. It’s the largest steel company globally. The company has major operations in Europe (VGK)(EZU), which accounts for almost half of its revenues. ArcelorMittal gets a quarter of its revenue from NAFTA (the North American Free Trade Agreement)
Let’s now look at ArcelorMittal’s 2Q15 earnings in detail in the next part of this series.