ArcelorMittal Third Quarter 2024 Earnings: EPS Misses Expectations

ArcelorMittal (AMS:MT) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$15.2b (down 8.5% from 3Q 2023).
• Net income: US$287.0m (down 69% from 3Q 2023).
• Profit margin: 1.9% (down from 5.6% in 3Q 2023).
• EPS: US$0.37 (down from US$1.11 in 3Q 2023).

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

ArcelorMittal EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 25%.

Looking ahead, revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe.

Performance of the market in the Netherlands.

The company's shares are up 6.4% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the 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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