ArcelorMittal's (MT) Q2 Earnings and Revenues Miss Estimates

ArcelorMittal S.A. (MT) recorded a net income of $504 million or 63 cents per share in second-quarter 2024 compared with$1,860 million or $2.21 per share in the year-ago quarter. The bottom line missed the Zacks Consensus Estimate of$1.12 per share.Total sales fell around 13% year over year to $16,249 million in the quarter. The figure also missed the consensus estimate of$16,911.4 million.Total steel shipments fell 2% year over year to 13.9 million metric tons in the reported quarter. The figure was abo ...