ArcelorMittal (MT) Misses Q2 EPS by 15c; offers outlook

ArcelorMittal (NYSE: MT) reported Q2 EPS of $0.63, $0.15 worse than the analyst estimate of $0.78. Revenue for the quarter came in at $16.25 billion versus the consensus estimate of $16.4 billion.

OUTLOOK

Disciplined capex investment: Capex in 2024 continues to be expected within the range of $4.5bn-$5.0bn range, including $1.4-1.5bn on our strategic growth projects.

The Company expects the $1.6bn investment in working capital in 1H’24 to reverse by year end, supporting the outlook for free cash flow generation.

For earnings history and earnings-related data on ArcelorMittal (MT) click here.

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