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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, the world's leading integrated steel and mining company, has published its half-year report for the six-month period ended 30 June 2024. The report is available on the company's website, the Luxembourg Stock Exchange, and has been filed with the U.S. Securities and Exchange Commission. ArcelorMittal operates in 60 countries with primary steelmaking operations in 15 countries. In 2023, the company generated revenues of $68.3 billion, produced 58.1 million metric tonnes of crude steel and 42.0 million tonnes of iron ore. ArcelorMittal's purpose is to produce smarter steels for people and planet, focusing on innovative processes that reduce energy consumption and carbon emissions. The company is listed on stock exchanges in New York, Amsterdam, Paris, Luxembourg, and Spain.
ArcelorMittal (MT), the leading steel and mining company, reported Q2 2024 and H1 2024 results. Key points include:
Q2 2024: EBITDA of $1.9bn, net income of $0.5bn, steel shipments up 3.2% vs. Q1 2024. Cash flow reinvested in growth and returns to shareholders. Net debt at $5.2bn.
H1 2024: Sales fell 12.3% to $32.5bn, net income declined to $1.4bn. Operating income at $2.1bn, EBITDA at $3.8bn.
Strategic Developments: Projects in Brazil and India progressing, expected to boost EBITDA by $1.8bn by end of 2026. Acquisitions in Italy and Spain add $0.2bn to 2025 EBITDA potential.
Outlook: Market conditions expected to improve in 2H 2024. Capex for 2024 between $4.5bn-$5.0bn. Free cash flow outlook remains positive.
Key Financials: Q2 Sales $16.2bn, Operating Income $1.0bn, EPS $0.63. H1 Sales $32.5bn, Operating Income $2.1bn, EPS $1.80.
ArcelorMittal (MT) has released its Q2 2024 sell-side analyst consensus figures, based on estimates from approximately 15 brokers. The consensus, compiled by Visible Alpha, shows:
- EBITDA: $1,773 million
- Net income: $624 million
- Earnings per share: $0.79
These figures are derived from 12 participating analysts who have updated their estimates to reflect ArcelorMittal's new EBITDA definition and reportable segmentation. The company emphasizes that it is not responsible for analysts' views and is not involved in collecting or compiling the estimates.
ArcelorMittal has announced the winners of its inaugural XCarb® India Accelerator Programme for climate tech start-ups. The three winners, UrjanovaC, AgroMorph Technosolutions, and Susstains Engineering Solutions, will each receive $50,000 and mentoring to develop their technologies. The program, launched in July 2023 in collaboration with IIT Madras, aims to support ArcelorMittal's climate ambitions and India's start-up ecosystem.
The winning technologies focus on carbon capture and utilization, algae-based CCUS systems, and biochar production as a coal replacement in the steel industry. These innovations hold significant potential for industrial decarbonization, aligning with ArcelorMittal's goal to produce smarter, cleaner steels that benefit people and the planet.
ArcelorMittal released its 2023 Payments to Governments report, detailing the financial contributions made by the company and its subsidiaries in relation to its mining operations. This report, which meets Luxembourg's legal requirements, is accessible on their corporate website. ArcelorMittal, a leading global steel and mining company, operates in 60 countries and has major steelmaking facilities in 15 countries. In 2023, the company generated $68.3 billion in revenue, produced 58.1 million metric tonnes of crude steel and 42.0 million tonnes of iron ore. ArcelorMittal focuses on creating innovative, energy-efficient, and low-carbon steels to support sustainable development. The company is listed on several major stock exchanges, including New York, Amsterdam, Paris, Luxembourg, and the Spanish stock markets.
On June 12, 2024, ArcelorMittal received a shareholding notification from BlackRock regarding a threshold change in voting rights.
BlackRock's voting rights reached 4.99% as of June 10, 2024. The notification is available on the Luxembourg Stock Exchange's OAM electronic database and ArcelorMittal's website.
This update aligns with Luxembourg's Transparency Law concerning shareholding notifications above or below the 5% threshold.
ArcelorMittal, the world's leading steel and mining company, reported $68.3 billion in revenue for 2023, with primary operations across 15 countries.
On June 11, 2024, ArcelorMittal announced the pricing of two bond offerings totaling $1 billion. The company will issue $500 million of 6.00% notes due June 17, 2034, and another $500 million of 6.35% notes due June 17, 2054. The net proceeds, approximately $989.29 million before expenses, will be used for general corporate purposes. The offering is expected to close on June 17, 2024, pending customary conditions. The issuer has filed a registration statement with the SEC. For more detailed information, investors are encouraged to read the prospectus available on the SEC website.
ArcelorMittal reported strong financial results for the first quarter of 2024, with significant improvements in EBITDA, net income, and steel shipments. The company focused on safety, strategic growth projects, and shareholder returns. Despite a seasonal working capital investment leading to a cash outflow, ArcelorMittal demonstrated financial strength and a clear pathway to achieve its strategic objectives.
ArcelorMittal held its General Meeting where 78.47% of voting rights were represented, approving all resolutions by a strong majority. The meeting re-elected directors, approved a dividend of US$0.50 per share, and full documentation will be available on their website.
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