The Most Crucial Points about ArcelorMittal’s 2Q16 Earnings

ArcelorMittal’s 2Q16 earnings

ArcelorMittal (MT) released its 2Q16 financial results on July 29. The company reported net income of $1.1 billion in 2Q16 versus a net loss of $0.4 billion in 1Q16. Note that the 2Q16 net income includes a one-time gain of $800 million.

The Most Crucial Points about ArcelorMittal’s 2Q16 Earnings

Price action

Markets (VGK) reacted favorably to ArcelorMittal’s 2Q16 earnings, sending its stock up by more than 6%. ArcelorMittal joins the ranks of U.S. Steel (X) and AK Steel (AKS), which also saw significant price appreciation after their respective 2Q16 earnings releases. Steel producers have had a strong rally in 2016 as can be seen in the graph above.

Series overview

In this series, we’ll analyze ArcelorMittal’s 2Q16 earnings. We’ll explore what drove ArcelorMittal’s 2Q16 financial performance, and we’ll also discuss the key takeaways from the company’s earnings conference call. Let’s first look at the key highlights of the 2Q16 earnings season.

In the next part of the series, we’ll take a closer look at MT’s 2Q16 financial performance.