Steel giant ArcelorMittal MT logged net income of $1,205 million or $1.18 per share in third-quarter 2017, up from net earnings of $680 million or 67 cents recorded a year ago. Earnings per share topped the Zacks Consensus Estimate of 86 cents.
Revenues went up 21.5% year over year to $17,639 million in the quarter on the back of higher average steel selling prices, higher steel shipments, higher market-priced iron ore shipments and higher seaborne iron ore prices. Sales however, trailed the Zacks Consensus Estimate of $17,895 million. Zachs