Metal stocks Q1 performance check: 4 beat estimates, 2 missed; Motilal Oswal breaks down the reason
Aggregate earnings across the coverage universe climbed 37% from a year ago and 3% from the previous quarter, landing 5% above what analysts had modeled going in. That's a solid beat, especially considering input costs were rising the entire time. But not every stock in the group shared equally in the gains. Tata Steel's operations in the UK and Netherlands weighed heavily on the overall numbers, holding consolidated profitability to INR12,750 per tonne despite a sharp increase in prices during the quarter. Strip out those overseas operations, though, and Tata Steel's India business alone posted INR17,800 per tonne, up INR2,500 from the previous quarter. It's a good reminder to check the geography-wise breakdown before judging any stock purely by its consolidated headline number. Sectors earnings beat estimates by a wide margin
Aggregate earnings across the coverage universe climbed 37% from a year ago and 3% from the previous quarter, landing 5% above what analysts had modeled going in. That's a solid beat, especially considering input costs were rising the entire time. But not every stock in the group shared equally in the gains. Tata Steel's operations in the UK and Netherlands weighed heavily on the overall numbers, holding consolidated profitability to INR12,750 per tonne despite a sharp increase in prices during the quarter. Strip out those overseas operations, though, and Tata Steel's India business alone posted INR17,800 per tonne, up INR2,500 from the previous quarter. It's a good reminder to check the geography-wise breakdown before judging any stock purely by its consolidated headline number. Sectors earnings beat estimates by a wide margin
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