Benzinga | Jul 30, 2020 07:25AM EDT

ArcelorMittal: Q2 Earnings Insights

Shares of ArcelorMittal (NYSE:MT) decreased 3% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share decreased 219.05% over the past year to ($0.50), which were in line with the estimate of ($0.50).

Revenue of $10,976,000,000 declined by 43.07% year over year, which beat the estimate of $10,840,000,000.

Looking Ahead

ArcelorMittal hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Price Action

52-week high: $18.89

Company's 52-week low was at $6.64

Price action over last quarter: down 0.70%

Company Overview

ArcelorMittal is the largest player in the global steel industry. Formed in 2006 via the merger of Arcelor and Mittal Steel, the two largest steelmakers at the time, ArcelorMittal now produces more than 5% of the world's steel. The company derives the majority of its revenue from North America and Europe, while emerging markets account for approximately 40% of total sales.