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 received a shareholding notification from Société Générale SA on 29 October 2021, indicating the latter's entry into various financial instruments. The notification specifies that Société Générale reached a threshold of 5.10% of potential voting rights as of 26 October 2021. This notification complies with the Luxembourg Transparency Law regarding changes in shareholding structures. The details can be accessed through the Luxembourg Stock Exchange's OAM database and ArcelorMittal’s corporate website under the Investors section.
ArcelorMittal has released third-quarter 2021 consensus EBITDA estimates compiled by Vuma Financial Services, based on inputs from 18 sell-side analysts. The consensus EBITDA for the third quarter is estimated at $6,151 million. The estimates are derived from a group of approximately 15-20 brokers who continuously follow the company. ArcelorMittal notes that it is not involved in the collection of these estimates and does not endorse the analysts' views.
ArcelorMittal announced a share transaction involving its Designated Person as per the Market Abuse Regulations. This transaction is linked to the share buyback program initiated on 29 July 2021. The company’s Significant Shareholder will enter into a share repurchase agreement to maintain their voting rights at 36.34% of ArcelorMittal’s share capital. More information regarding the share buyback can be accessed on the Luxembourg Stock Exchange and ArcelorMittal’s corporate website.
ArcelorMittal announces a share transaction involving a Designated Person, aligning with its share buyback program initiated on 29 July 2021. This transaction enables ArcelorMittal’s Significant Shareholder to sell shares while maintaining a voting rights stake of 36.34% in the company's share capital. The relevant details of the transaction can be accessed through the Luxembourg Stock Exchange and ArcelorMittal’s website.
ArcelorMittal has announced a share transaction notification per the Market Abuse Regulations, detailing a share buyback program initiated on 29 July 2021. A significant shareholder will sell shares to maintain their voting rights at 36.34% of the company's share capital, net of treasury shares. The details are accessible via the Luxembourg Stock Exchange's database and ArcelorMittal's official website under Investors > Corporate Governance > Share Transactions by Management. This strategic move underscores ArcelorMittal's commitment to its buyback program.
ArcelorMittal reports a share transaction following its share buyback program launched on 29 July 2021. A Designated Person has confirmed a transaction available on the Luxembourg Stock Exchange and ArcelorMittal’s website. This transaction ensures that a Significant Shareholder maintains a 36.34% voting right in the company’s share capital, net of treasury shares. Details of the buyback program can be found on the investor relations section of the ArcelorMittal website.
ArcelorMittal has announced the appointment of Stefan Buys as Executive Vice President and CEO of ArcelorMittal Mining, effective October 1, 2021, following the retirement of Simon Wandke. Buys brings extensive experience from his previous role as managing director of Pilbara Mining at Rio Tinto and has held key positions at BHP and Xstrata. CEO Aditya Mittal expressed confidence in Buys' capability to lead the global mining sector, focusing on digital transformation and decarbonization.
In 2020, ArcelorMittal generated revenues of $53.3 billion.
On September 28, 2021, ArcelorMittal announced a notification regarding a share transaction by a Designated Person, as per the Market Abuse Regulations. This transaction links to the company's share buyback program initiated on July 29, 2021. A Significant Shareholder has engaged in a share repurchase agreement to sell shares, ensuring their voting rights in ArcelorMittal remain at 36.34%. Details about the buyback program are available on ArcelorMittal's investor relations website.
ArcelorMittal Belgium has committed to reducing CO2 emissions by 3.9 million tonnes annually by 2030 through a €1.1 billion investment in a 2.5 million-tonne direct reduced iron (DRI) plant and two electric furnaces at its Gent site. The DRI plant will utilize natural gas and hydrogen, drastically cutting emissions compared to traditional methods. This initiative aligns with ArcelorMittal's goals of achieving carbon neutrality by 2050, contributing significantly to a 35% reduction in emissions intensity in Europe by 2030.
On September 22, 2021, ArcelorMittal announced the cancellation of 50 million treasury shares, following approval from its Extraordinary General Meeting on June 8, 2021. This action is aimed at maintaining appropriate levels of treasury shares and follows a previously announced US$2.2 billion share buyback initiated on July 29, 2021. Post-cancellation, the total number of shares in circulation will be 982,809,772, down from 1,032,809,772. Additional details about the share buyback can be found on ArcelorMittal's corporate website.
FAQ
What is the current stock price of Arcelormittal (MT)?
What is the market cap of Arcelormittal (MT)?
What is ArcelorMittal's primary business?
Where is ArcelorMittal headquartered?
What are ArcelorMittal's main operational segments?
What was ArcelorMittal's EBITDA for FY 2023?
What recent strategic initiatives has ArcelorMittal undertaken?
What is the significance of the Kazakhstan operations sale to ArcelorMittal?
How is ArcelorMittal addressing safety in its operations?
What is ArcelorMittal’s stance on sustainability?
Where is ArcelorMittal listed?
What are some key financial metrics for ArcelorMittal at the end of 2023?
