ArcelorMittal SA (ADR) (MT) reported quarterly earnings results on Friday, Jul-29-2016. The company said it had a profit of $0.38 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.35. Analysts had a consensus of $0.03. The company posted revenue of $14743.00 million in the period, compared to analysts expectations of $15233.82 million. The company’s revenue was down -12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.
Many Wall Street Analysts have commented on ArcelorMittal SA (ADR). ArcelorMittal SA (ADR) was Upgraded by Citigroup to ” Buy” on Jun 1, 2016.
ArcelorMittal SA (ADR) opened for trading at $6.12 and hit $6.17 on the upside on Thursday, eventually ending the session at $6.15, with a gain of 2.16% or 0.13 points. The heightened volatility saw the trading volume jump to 3,18,85,155 shares. Company has a market cap of $15,080 M.
ArcelorMittal SA (ArcelorMittal) is a holding company. The Company is a steel and mining company which operates through five segments: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS) and Mining. The Company produces a range of finished and semi-finished steel products. Specifically it produces flat steel products including sheet and plate and long steel products including bars rods and structural shapes. In addition the Company produces pipes and tubes for various applications. The Company also produces various types of mining products including iron ore lump fines concentrate and sinter feed as well as coking pulverized coal injection (PCI) and thermal coal. The Company’s subsidiaries include ArcelorMittal Dofasco Inc. ArcelorMittal Montreal Inc. ArcelorMittal Point Lisas Ltd. ArcelorMittal Belgium N.V. and ArcelorMittal South Africa Ltd. among others.