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ArcelorMittal’s 3Q16 Earnings: What’s the Word on Wall Street?

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ArcelorMittal’s 3Q16 earnings

ArcelorMittal (MT), the world’s largest steelmaker, will release its 3Q16 earnings on November 8. It has been a remarkable year for the company. The stock has gained almost 110% year-to-date. The stock’s performance has been led by improved steel market conditions globally.

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3Q16 earnings season

We’re in the middle of the 3Q16 earnings season. Nucor (NUE), AK Steel (AKS), and Steel Dynamics (STLD) have already released their 3Q16 earnings. U.S. Steel’s (X) 3Q16 earnings are expected on November 1. You can read U.S. Steel’s 3Q16 Earnings: What’s the Word on Wall Street? to find out analysts’ expectations from U.S. Steel’s 3Q16 earnings.

So far, it has been a mixed earnings season for steel companies (XME). While Steel Dynamics’ 3Q16 earnings were more or less in line with the estimates, Nucor missed consensus revenue as well as earnings estimates. However, AK Steel managed to beat analysts’ earnings estimates handsomely. Markets also rewarded AK Steel for its better-than-expected earnings. As a result, its share price rose. Since then, AK Steel saw downward price action after the company announced a fresh issue of equity shares. Notably, other steelmakers including ArcelorMittal and U.S. Steel raised cash by selling shares in 2016.

Series overview

In this series, we’ll explore analysts’ expectations for ArcelorMittal’s 3Q16 earnings. We’ll also look at the key points that ArcelorMittal investors should watch for in the company’s 3Q16 earnings conference call. Let’s start by analyzing what Wall Street expects for ArcelorMittal’s revenues in 3Q16.

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