Welcome to our dedicated page for Arcelormittal news (Ticker: MT), a resource for investors and traders seeking the latest updates and insights on Arcelormittal stock.
ArcelorMittal S.A., headquartered in Luxembourg City, is a Luxembourgian multinational steel manufacturing corporation established in 2006 through the merger of Arcelor and Indian-owned Mittal Steel. As one of the world's leading integrated steel and mining companies, ArcelorMittal operates across 60 countries with primary steelmaking facilities in 15 countries.
The company's operational segments include NAFTA, Brazil, Europe, ACIS (Africa, CIS, and other countries), and Mining. It derives the majority of its revenue from the Europe segment, which specializes in manufacturing and selling hot-rolled coil, cold-rolled coil, coated products, tinplate, plate, and slabs. The products cater to sectors such as automotive, general industry, and packaging. Additionally, the segment produces long products like sections, wire rods, rebar, billets, blooms, wire drawing, and tubular products. Geographically, the United States contributes significantly to its revenue.
ArcelorMittal has recently announced its fourth quarter and full year 2023 sell-side analysts' consensus figures, highlighting a calculated collective outlook based on analysts' estimates. The consensus, managed by Visible Alpha, includes the impact of the sale of the Company’s Kazakhstan operations to the Qazaqstan Investment Corporation, effective December 7, 2023. Additionally, due to revisions in the expected future cash flows of Acciaierie d'Italia (ADI), the company anticipates fully impairing its investment in ADI, reflecting in the fourth-quarter results.
Financially, ArcelorMittal reported an EBITDA of $7.6 billion for FY 2023 and a free cash flow of $2.9 billion. The net income for the same period stands at $0.9 billion, impacted by non-cash, non-recurring items like the $2.4 billion effect of the Kazakhstan operations' disposal and a $1.4 billion impairment on ADI. Despite these challenges, the company maintains a robust financial position with a net debt of $2.9 billion as of the end of 2023 and liquidity of $13.2 billion.
In terms of growth and sustainability, ArcelorMittal is advancing several strategic projects, including substantial investments in low carbon steel production and renewable energy infrastructure. The company is committed to reducing its carbon footprint through innovative processes that use less energy and emit significantly less carbon. Their XCarb® recycled and renewably produced steel is set to feature prominently in the Paris Olympics, marking a significant step in their decarbonization strategy.
ArcelorMittal's financial strength is reinforced by its share repurchase programs, which have reduced the fully diluted shares outstanding by 33% since September 2020. Furthermore, the company has a diverse investment portfolio, including significant strategic joint ventures like AMNS India and Calvert in North America.
Looking ahead, ArcelorMittal remains positive about medium to long-term steel demand, anticipating a growth in apparent steel consumption globally. The company continues to prioritize safety, having commissioned a comprehensive independent safety audit to enhance its operational protocols and culture.
ArcelorMittal is listed on stock exchanges in New York, Amsterdam, Paris, Luxembourg, and Madrid under the symbol MT.
ArcelorMittal hosted an investor event at AM/NS India’s Hazira plant, marking its first since the acquisition in December 2019. The event highlighted significant improvements in AM/NS India’s financial performance, including strong growth in steel production and EBITDA, and a reduction in net debt. The company is committed to enhancing its operational efficiency and decarbonizing the Indian steel industry, aiming to increase its capacity to approximately 15 million tonnes by early 2026. AM/NS India positions itself to capture market growth in a domestic steel market projected to reach 300 million tonnes by 2030.
On September 26, 2022, ArcelorMittal announced the issuance of €600 million in 4.875% notes due September 26, 2026, as part of its €10 billion wholesale Euro Medium Term Notes Programme. The issuance closed today, with proceeds earmarked for general corporate purposes and the refinancing of existing debt. The press release clarifies that this does not constitute a public offering and that no steps have been taken in jurisdictions requiring registration. Investors are cautioned about the risks associated with the notes, including the possibility of a decline in value.
ArcelorMittal has released its half-year report for the period ending June 30, 2022. The report is accessible on its corporate website and has been filed with the U.S. SEC as Form 6-K. In 2021, the company achieved revenues of $76.6 billion and produced 69.1 million metric tonnes of crude steel, alongside 50.9 million metric tonnes of iron ore. ArcelorMittal aims to create innovative steels that reduce energy use and carbon emissions, aligning its vision with sustainability goals.
On July 29, 2022, ArcelorMittal announced a new share buyback program to repurchase 60,431,380 shares, totaling approximately $1.4 billion. This initiative is part of a broader strategy, bringing total buybacks for 2022 to around $3.4 billion. The program, authorized by shareholders on May 4, 2022, aims to fulfill obligations related to debt and employee share programs and to reduce share capital. The completion is anticipated by May 2023, subject to market conditions. Notably, a significant shareholder opted not to participate in this program.
ArcelorMittal has signed an agreement to acquire Companhia Siderúrgica do Pecém (CSP) for an enterprise value of approximately $2.2 billion. The acquisition aims to strengthen ArcelorMittal's position in Brazil's steel industry and introduce synergies worth over $50 million. CSP operates a state-of-the-art facility capable of producing 3 million tonnes of high-quality slabs annually. The deal awaits regulatory approvals, including CADE in Brazil, expected by late 2022. The acquisition supports ArcelorMittal's ambitions to develop low-carbon and green hydrogen initiatives in the region.
ArcelorMittal (MT) reported strong financial results for 2Q 2022, with operating income of $4.5 billion and net income of $3.9 billion. EBITDA reached $5.2 billion, marking the fifth consecutive quarter above $5 billion. Despite a 6.3% drop in steel shipments to 14.4Mt, higher average selling prices boosted sales to $22.1 billion. The company announced a proposed $2.2 billion acquisition of Companhia Siderúrgica do Pecém (CSP) in Brazil and completed the acquisition of voestalpine’s Hot Briquetted Iron plant in Texas. The solid financial performance highlights ArcelorMittal's strategic focus on low-carbon steelmaking.
On July 20, 2022, ArcelorMittal announced the consensus estimates for its second quarter of 2022, compiled by Visible Alpha from 13 sell-side analysts. Key figures include an expected EBITDA of $5,088 million, a net income of $3,719 million, and earnings per share (EPS) of $4.05. The estimates reflect market expectations and are not confirmed by the company. ArcelorMittal, recognized as a leading steel and mining entity, emphasizes innovative production methods targeting sustainability and efficiency.
On July 1, 2022, ArcelorMittal announced that BlackRock, Inc. notified them of a shareholding change, dropping below 5% in voting rights as of June 30, 2022. This notification complies with Luxembourg’s Transparency Law regarding shareholding thresholds. ArcelorMittal continues to be a leading steel and mining company, generating $76.6 billion in revenue and producing 69.1 million metric tonnes of crude steel in 2021. Their commitment is to create innovative, eco-friendly steel solutions to support future societal transformations.
On July 1, 2022, ArcelorMittal completed the acquisition of an 80% stake in voestalpine's Hot Briquetted Iron plant in Corpus Christi, Texas, following regulatory approvals. Valued at $1 billion, this state-of-the-art facility has an annual capacity of 2 million tonnes of HBI, enhancing ArcelorMittal's production capabilities for low-carbon steelmaking. This strategic move solidifies the company's leadership in Direct Reduced Iron production, aligning with its goal to decarbonize the steel industry.
ArcelorMittal has filed its 2021 Payments to Governments report, detailing payments made to governments related to mining operations, in compliance with Luxembourg law. The report is available for download at their corporate site. In 2021, ArcelorMittal generated revenues of $76.6 billion and produced 69.1 million metric tonnes of crude steel, along with 50.9 million metric tonnes of iron ore. The company aims to innovate its steel production processes for sustainability and efficiency while expanding its global footprint across 60 countries.
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