ArcelorMittal (NYSE: MT) reported earnings on July 25. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), ArcelorMittal missed slightly on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Revenue details
ArcelorMittal logged revenue of $22.48 billion. The 11 analysts polled by S&P Capital IQ expected net sales of $22.85 billion on the same basis. GAAP reported sales were 11% lower than the prior-year quarter's $25.13 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.70. The two earnings estimates compiled by S&P Capital IQ anticipated $0.35 per share. GAAP EPS of $0.56 for Q2 were 42% lower than the prior-year quarter's $0.96 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 10.9%, 250 basis points worse than the prior-year quarter. Operating margin was 5.7%, 510 basis points worse than the prior-year quarter. Net margin was 4.3%, 180 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $21.46 billion. On the bottom line, the average EPS estimate is $0.23.
Next year's average estimate for revenue is $90.49 billion. The average EPS estimate is $1.28.
Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,079 members out of 2,138 rating the stock outperform, and 59 members rating it underperform. Among 399 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 387 give ArcelorMittal a green thumbs-up, and 12 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ArcelorMittal is outperform, with an average price target of $27.09.
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