Analysts predict close to flat earnings for Luxembourg-based steelmaker ArcelorMittal’s Q1 2012 earnings compared with Q4 of last year, the company said on Wednesday May 2.
A group of 23 independent bank and brokerage analysts collectively estimate that the steel manufacturer’s earnings before interest, taxes, depreciation and amortisation (Ebitda) for the first quarter this year will be $1,708 billion.
On February 7, ArcelorMittal reported its fourth quarter Ebitda for 2011 at $1,710 billion
The analysts put the lack of movement down to a number of factors, including a downturn in the company’s mining division, which is likely to have been affected by poor weather, a lower-than-average iron ore spot price in the first quarter and other logistical factors.
ArcelorMittal releases its first quarterly results for 2012 on May 10.