ArcelorMittal Stock Heads Higher on Strong Quarter, Outlook

ArcelorMittal SA (ADR) (NYSE:MT) stock was on the rise today following the release of its earnings report for the third quarter of 2017.

ArcelorMittal SA (ADR)  Stock Heads Higher on Strong Quarter, Outlook

Source: Shutterstock

ArcelorMittal SA (ADR)’s earnings report for the third quarter of the year includes earnings per share of $1.18. This is a down from its earnings per share of $1.29 from the same time last year. However, it still came in above Wall Street’s earnings per share estimate of 86 cents for the quarter and was good news for MT stock.

Revenue reported by ArcelorMittal SA (ADR) in the third quarter of 2017 was $17.64 billion. This is an increase over its revenue of $17.24 billion reported in the third quarter of 2016. It also beat out analysts’ revenue estimate of $16.99 billion for the third quarter of the year.

ArcelorMittal SA (ADR) reported operating income of $1.23 billion in its third quarter of 2017. This is a drop from its operating income of $1.39 billion from the same period of the year prior.

Net income reported by ArcelorMittal SA (ADR) in the third quarter of the year was $1.21 billion. The company’s net income from the same quarter in the previous year came in at $1.32 billion.

ArcelorMittal SA (ADR) says that market conditions are favorable and that it has hope for positive results in 2017. This includes worldwide ASC growth between 2.5% and 3.0%. It is also increasing its investment in working capital expectation for the year to $2.00 billion from $1.50 billion.

MT stock was up 3% as of Friday morning. The stock is down 55% year-to-date, but also went through a split in May.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/11/arcelormittal-stock-higher-on-strong-quarter/.

©2022 InvestorPlace Media, LLC