Investing.com - ArcelorMittal reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
ArcelorMittal announced earnings per share of $-0.26 on revenue of $9.32B. Analysts polled by Investing.com anticipated EPS of $-0.48 on revenue of $10.03B.
ArcelorMittal shares are down 38% from the beginning of the year and are trading at $9.58 , down-from-52-week-high.They are under-performing the CAC 40 which is down 18.02% from the start of the year.
ArcelorMittal shares lost 0.54% in intra-day trade following the report.
ArcelorMittal follows other major Basic Materials sector earnings this month
ArcelorMittal's report follows an earnings beat by Akzo Nobel on Wednesday, July 22, 2020, who reported EPS of $0.8 on revenue of $1.99B, compared to forecasts EPS of $0.58 on revenue of $1.95B.
Aperam had beat expectations on Wednesday with second quarter EPS of $0.27 on revenue of $818M, compared to forecast for EPS of $-0.07 on revenue of $734.67M.
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