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 share transaction involving a Designated Person as per EU regulations. The transaction relates to the company's share buyback program initiated on 29 July 2021. A significant shareholder has made a share repurchase agreement to maintain their voting rights in ArcelorMittal's share capital at 36.34%. Details of the buyback program can be found on ArcelorMittal's website and the Luxembourg Stock Exchange’s database.
On 23 November 2021, ArcelorMittal announced a notification of a share transaction by a Designated Person, available on the Luxembourg Stock Exchange and its website. This transaction is linked to the company's share buyback program initiated on 29 July 2021, aimed at maintaining a significant shareholder's voting rights at 36.34%. Details on the buyback program can be found under Investors > Corporate Governance > Share Transactions by Management.
ArcelorMittal announces a share transaction involving a Designated Person, in accordance with market abuse regulations. This transaction is part of the ongoing share buyback program initiated on 29 July 2021, aimed at maintaining its Significant Shareholder's voting rights at 36.34%. Details of the transaction can be accessed through the Luxembourg Stock Exchange's electronic database and ArcelorMittal's website.
ArcelorMittal has completed its fourth share buyback program, repurchasing 67.4 million shares for €1.88 billion (US$2.2 billion) at an average price of €27.91 per share. A new US$1 billion buyback program will commence, aimed at enhancing shareholder value and funding obligations under equity securities and employee share programs. This buyback is part of a larger initiative, totaling US$2 billion to be funded from 2021 cash flow, expected to conclude by February 2022, subject to market conditions.
ArcelorMittal has announced a share transaction involving a Designated Person, as detailed in the Luxembourg Stock Exchange. The transaction is part of the company's share buyback program initiated on 29 July 2021. A Significant Shareholder has entered a share repurchase agreement to maintain voting rights at 36.34% of the company's share capital. Further information on the buyback program can be found on ArcelorMittal's corporate website.
On 10 November 2021, ArcelorMittal received shareholding notifications from Société Générale SA, indicating a change in voting rights. The thresholds reported were 4.97% on 5 November 2021 and 5.68% on 8 November 2021. This update aligns with Luxembourg's transparency requirements for issuers of securities. Further details can be accessed through the Luxembourg Stock Exchange’s OAM electronic database and the Company’s website.
ArcelorMittal (MT) reported strong financial results for Q3 2021, achieving a net income of $4.6 billion, the highest since 2008. Operating income also increased to $5.3 billion, while EBITDA reached $6.1 billion, reflecting higher steel prices and improved mining operations. However, steel shipments fell by 8.4% due to weakened demand, particularly in the automotive sector. The company announced a $1 billion increase in its share buyback program, totaling $2 billion for 2022. Key investments in decarbonization projects were also highlighted, including a CAD$1.8 billion initiative in Canada.
ArcelorMittal announces a share transaction by a Designated Person, confirming compliance with Article 19(3) of the Market Abuse Regulations. This transaction is part of the company's ongoing share buyback program initiated on 29 July 2021. The Significant Shareholder has signed a repurchase agreement to maintain their voting rights at 36.34% in ArcelorMittal's share capital. Details of the transaction are accessible in the Luxembourg Stock Exchange database and on ArcelorMittal's investor relations website.
On November 3, 2021, at COP26, ArcelorMittal announced a CAD$205 million investment in its Port-Cartier pellet plant in Quebec, aiming to convert its 10 million tonne annual pellet production to direct reduced iron (DRI) pellets by 2025. The Quebec government will contribute up to CAD$80 million through an electricity rebate. This project is anticipated to reduce CO2 emissions by 200,000 tonnes annually, equivalent to removing 57,600 cars from the road. Construction is set to create 250 jobs and positions the facility among the world's largest DRI pellet producers.
ArcelorMittal announces a share transaction notification in compliance with the Market Abuse Regulations. This transaction, linked to the company's ongoing share buyback program initiated on 29 July 2021, is aimed at maintaining significant shareholder voting rights at 36.34%. Details on the transaction are accessible on the Luxembourg Stock Exchange and the company’s website under the designated sections for investors. This move emphasizes ArcelorMittal's commitment to managing its equity effectively while keeping shareholder interests aligned.
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