ArcelorMittal (MT) is slated to release its 3Q17 financial results on November 10. In this article, we’ll see what analysts are projecting for the company’s 3Q17 revenues.
Steel companies’ revenues mostly depend on shipments and average selling prices (or ASPs). ASPs vary across companies depending on an array of factors including geographical exposure and product portfolios.
Analysts polled by Thomson Reuters expect ArcelorMittal to post revenues of $16.7 billion in 3Q17. The company posted revenues of $17.2 billion in 2Q17 and $14.5 billion in 3Q16. Analysts expect ArcelorMittal’s 3Q17 revenues to fall on a sequential basis while expecting them to rise on a year-over-year basis.
ArcelorMittal garners almost half of its revenues from Europe, and the region’s steel demand is seasonally slower in the third quarter. However, European steel prices have been strong in the third quarter, unlike the United States where pricing was subdued during the quarter.
U.S. Steel’s Europe segment reported a 3.0% sequential increase in its 3Q17 ASPs. However, the company’s US Flat-Rolled operations reported a sequential decline in its 3Q17 ASPs.
Along with revenues, we should also follow profitability metrics. In the next article, we’ll see what analysts are projecting for ArcelorMittal’s 3Q17 profitability.