ArcelorMittal’s 3Q17 earnings
ArcelorMittal (MT), the world’s largest steelmaker (XME), released its 3Q17 earnings on November 10, 2017. The company generated operating income of $1.2 billion in 3Q17. While its operating income fell compared to 2Q17, it rose 2.5% year-over-year. In the first nine months of 2017, ArcelorMittal has generated an operating income of $4.2 billion, which is 25.3% higher compared to the same period last year.
3Q17 earnings season
ArcelorMittal’s 3Q17 earnings have come towards the end of the earnings season. Most US-based steel companies have already released their earnings. It has been a mixed earnings season for steel investors. AK Steel’s (AKS) 3Q17 earnings fell short of analysts’ estimates. However, Nucor (NUE) and U.S. Steel Corporation (X) posted better-than-expected earnings. Read A Deeper Dive into U.S. Steel’s 3Q17 Financial Performance for a detailed analysis of U.S. Steel Corporation’s 3Q17 earnings.
ArcelorMittal’s 3Q17 earnings were also better than expected. Notably, ArcelorMittal has outperformed US-based steel stocks this year. So far, ArcelorMittal has risen 28.5% in 2017. In contrast, most US-based steel companies are trading with losses this year after the spectacular rally last year.
In this series, we’ll analyze ArcelorMittal’s 3Q17 earnings and look at the different factors that drove the company’s financial performance during the quarter. We’ll also see how ArcelorMittal’s different business segments performed in 3Q17. In the next part, we’ll discuss ArcelorMittal’s 3Q17 revenues.