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Market Update

Earnings on Tap: ArcelorMittal

The investor community is assuming the worst for ArcelorMittal amid heightened economic fears.

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Global steel giant  ArcelorMittal (MT) is set to report third-quarter earnings Wednesday ahead of the bell. Wall Street analysts are expecting earnings of $0.20 per share compared with $0.43 per basic share reported in the year-ago period.

The company became the largest steel producer in 2006 after the merger of Mittal Steel and Arcelor, with about 8% of the world's steelmaking capacity. Supplying one fifth of the global automotive market's steel needs, the company is a strategic partner for many large manufacturers, reaffirming its importance in the global steel market.

Gazala Parveen does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.