5/08/2013 @ 3:41PM 1.963 views
Forbes Earnings Preview: ArcelorMittal
By Narrative Science
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Optimism surrounds ArcelorMittal (MT), as it gets ready to report its first quarter results on Friday, May 10, 2013. Analysts are expecting the company to book a profit of 18 cents a share, up from 9 cents a year ago.
Analysts are projecting earnings of 51 cents per share for the fiscal year. Analysts look for revenue to decrease 8.1% year-over-year to $20.86 billion for the quarter, after being $22.7 billion a year ago. For the year, revenue is projected to come in at $85.4 billion.
For three quarters in a row, the company has reported decreasing revenue. In the fourth quarter of the last fiscal year, revenue declined 14% to $19.31 billion while the figure fell 18.5% in the third quarter of the last fiscal year from the year earlier and 10.5% in the second quarter of the last fiscal year.
Most analysts think investors should stand pat on ArcelorMittal, with three of six analysts rating it hold. Analysts have grown increasingly optimistic about the stock in the last three months.
Earnings estimates provided by Zacks.
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