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 announced a significant share transaction related to its share buyback program initiated on 17 November 2021. A Designated Person has entered into a share repurchase agreement, allowing their voting rights in ArcelorMittal’s capital to remain at 36.34%. The transaction details can be found on the Luxembourg Stock Exchange and ArcelorMittal’s website. In 2020, ArcelorMittal generated revenues of $53.3 billion, producing 71.5 million metric tonnes of crude steel, and aims to lead with sustainable steel production.
On December 22, 2021, ArcelorMittal announced the completion of its repurchase of approximately US$395 million in principal of its 5.50% Mandatorily Convertible Subordinated Notes due 2023. The final repurchase price totals US$1.196 billion, closing on December 23, 2021. This repurchase will prevent the issuance of roughly 36.6 million common shares at maturity, effectively cancelling the Notes. After this transaction, approximately US$608 million of the Notes will remain outstanding, part of ArcelorMittal's ongoing capital return strategy.
ArcelorMittal announced a share transaction by a Designated Person, as mandated by the Market Abuse Regulations. This transaction relates to the company's share buyback program initiated on 17 November 2021. A significant shareholder has entered a share repurchase agreement to maintain their voting rights at 36.34% of ArcelorMittal’s share capital. The details are accessible on the Luxembourg Stock Exchange website and ArcelorMittal's corporate site under the Corporate Governance section.
ArcelorMittal has announced a notification regarding a share transaction by a Designated Person, as stipulated by EU Market Abuse Regulations. This transaction is linked to the company's share buyback program initiated on November 17, 2021. A significant shareholder will sell shares to maintain their voting rights at 36.34% of the company's share capital. More details on the share buyback program can be found on ArcelorMittal's website and the Luxembourg Stock Exchange.
ArcelorMittal has announced a privately negotiated repurchase of approximately $395 million worth of its 5.50% Mandatorily Convertible Subordinated Notes due 2023. This initiative is part of the company's ongoing capital return program, aimed at enhancing shareholder value. After the repurchase, around $608 million of the Notes will remain outstanding. The repurchase price will depend on the average daily price of the company’s ordinary shares during a specified determination period. The transaction is facilitated by Citigroup Global Markets Inc..
ArcelorMittal has announced a US$30 million investment in LanzaTech through its XCarb™ innovation fund, marking its fourth investment since March 2021. This collaboration aims to enhance carbon recycling efforts, building on a relationship that began in 2015. The €180 million Carbalyst® plant in Ghent, Belgium, will utilize LanzaTech's technology to capture and convert steelmaking waste gases into bio-ethanol, reducing CO2e emissions by 125,000 tonnes annually. This investment is part of ArcelorMittal’s commitment to decarbonization and sustainable product development.
On December 7, 2021, ArcelorMittal announced a notification of a share transaction by a Designated Person in line with the EU Market Abuse Regulations. This transaction is linked to ArcelorMittal's share buyback program initiated on November 17, 2021. A Significant Shareholder has entered a repurchase agreement, maintaining its voting rights at 36.34%. More details on the share buyback can be found on ArcelorMittal’s investor website.
ArcelorMittal is a leading global steel and mining company, with 2020 revenues of $53.3 billion and production metrics highlighting its industry position.
ArcelorMittal announced receipt of a shareholding notification from Société Générale on 6 December 2021. This notification indicates that Société Générale has entered various financial instruments, achieving a significant voting rights threshold of 5.03% as of 1 December 2021. The details of this notification can be found on the Luxembourg Stock Exchange’s OAM electronic database and ArcelorMittal's investor relations page. This disclosure reflects compliance with the Transparency Law governing securities in Luxembourg.
ArcelorMittal has announced its financial calendar for 2022, highlighting key earnings results dates. Investors can expect earnings announcements on:
- February 10, 2022: Q4 and full year 2021
- May 5, 2022: Q1 2022
- July 28, 2022: Q2 and half year 2022
- November 10, 2022: Q3 2022
The Annual General Meeting is scheduled for May 4, 2022. ArcelorMittal is recognized as the leading global steel and mining company, with significant production metrics and a commitment to sustainable practices.
ArcelorMittal announced on December 1, 2021, that it received a shareholding notification from Société Générale SA. This notification is related to the entry of Société Générale into various financial instruments.
The notification indicated that the threshold of potential voting rights had reached 4.91% as of November 26, 2021. This update complies with the Luxembourg Transparency Law, which mandates notifications when voting rights surpass 5%.
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