ArcelorMittal’s 3Q17 earnings
ArcelorMittal (MT), the world’s largest steel producer, is scheduled to release its 3Q17 earnings on November 10. The company’s earnings would come toward the end of earnings season, and most other steel companies have already released their quarterly financial performance reports.
Overall, it’s been a mixed earnings season for steel investors. The earnings season started on a positive note with Steel Dynamics (STLD). STLD stock posted better-than-expected revenues while its earnings were in line with estimates.
Nucor’s (NUE) 3Q17 earnings were better than expected, but the company missed revenue estimates.
3Q17 earnings season
AK Steel (AKS), which released its earnings on October 31, fell 21.5% after its 3Q17 earnings release. It missed consensus earnings estimates for its top line and its bottom line.
However, U.S. Steel’s (X) 3Q17 earnings lifted steel market sentiments. The company’s better-than-expected earnings and guidance were well-received by the markets. You can read A Deeper Dive into U.S. Steel’s 3Q17 Financial Performance for a detailed analysis of U.S. Steel’s 3Q17 earnings
ArcelorMittal posted better-than-expected earnings in 2Q17. You can read ArcelorMittal’s 2Q17 Earnings: What You Need to Know for a broad overview of MT’s 2Q17 earnings.
ArcelorMittal’s operations are spread across several countries, with Europe and NAFTA[1. North American Free Trade Agreement] together accounting for roughly 75% of its revenues. ArcelorMittal’s earnings reports are closely followed by analysts because they offer insights into the global steel industry’s health.
Next, we’ll look at ArcelorMittal’s 3Q17 earnings estimates. Let’s begin by looking at its 3Q17 revenue estimates.