Investing.com - ArcelorMittal reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
ArcelorMittal announced earnings per share of $-0.52 on revenue of $13.77B. Analysts polled by Investing.com anticipated EPS of $-0.13 on revenue of $14.89B. That with comparison to EPS of $0.37 on revenue of $17.09B in the same period a year before.ArcelorMittal had reported EPS of $-0.2 on revenue of $14.13B in the previous quarter.Analysts are expecting EPS of $-0.39 and revenue of $12.33B in the upcoming quarter.
ArcelorMittal shares are down 34% from the beginning of the year and are trading at $10.21 , down-from-52-week-high.They are under-performing the AEX which is down 15.09% year to date.
ArcelorMittal follows other major Basic Materials sector earnings this month
ArcelorMittal's report follows an earnings beat by Akzo Nobel on Wednesday, April 22, 2020, who reported EPS of $0.71 on revenue of $2.06B, compared to forecasts EPS of $0.64 on revenue of $2.06B.
IMCD NV had beat expectations on Monday, April 20, 2020 with first quarter EPS of $0.94 on revenue of $748.8M, compared to forecast for EPS of $0.8 on revenue of $729M.
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