ArcelorMittal Full Year 2024 Earnings: Misses Expectations

ArcelorMittal (AMS:MT) Full Year 2024 Results

Key Financial Results

• Revenue: US$62.4b (down 8.5% from FY 2023).
• Net income: US$1.34b (up 46% from FY 2023).
• Profit margin: 2.1% (up from 1.3% in FY 2023). The increase in margin was driven by lower expenses.
• EPS: US$1.70 (up from US$1.09 in FY 2023).

MT Production and Reserves

Iron

• Production: 42.4 Mt (47.9 Mt in FY 2023)

All figures shown in the chart above are for the trailing 12 month (TTM) period

ArcelorMittal Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 33%.

The primary driver behind last 12 months revenue was the Europe segment contributing a total revenue of US$30.0b (48% of total revenue). Notably, cost of sales worth US$56.2b amounted to 90% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$2.63b (53% of total expenses). Explore how MT's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Metals and Mining industry in Europe.

Performance of the market in the Netherlands.

The company's shares are up 14% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of ArcelorMittal's balance sheet and an in-depth analysis of the company's financial position.

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