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 in compliance with EU Market Abuse Regulations on July 7, 2021. This transaction is associated with the company's share buyback program initiated on June 18, 2021. A significant shareholder has agreed to sell shares to maintain their voting rights at 36.34%. Details of the transaction and buyback program can be accessed on the Luxembourg Stock Exchange's database and ArcelorMittal's website under the Investors section.
ArcelorMittal announces a share transaction notification for a Designated Person, available on the Luxembourg Stock Exchange and its website. This transaction relates to the share buyback program initiated on 18 June 2021. A significant shareholder has entered into a share repurchase agreement to maintain their voting rights in ArcelorMittal’s share capital at 36.34%. Additional details regarding the buyback program can also be found on the company's investor page.
ArcelorMittal has announced a notification of a share transaction by a Designated Person, available on the Luxembourg Stock Exchange's electronic database. This transaction relates to ArcelorMittal's share buyback program detailed on June 18, 2021. A significant shareholder has entered into a repurchase agreement, ensuring their voting rights remain at 36.34%. More information about the program can be found on ArcelorMittal's website under the Investors section.
ArcelorMittal has released its 2020 report on Payments to Governments regarding its mining sector. This report details the financial contributions made to governments and complies with Luxembourg law. In 2020, ArcelorMittal generated revenues of $53.3 billion and produced 71.5 million metric tonnes of crude steel. The company aims to innovate in steel production, emphasizing sustainability and efficiency. The full report can be accessed through the company's website.
On June 29, 2021, ArcelorMittal announced a share transaction by a Designated Person under Market Abuse Regulations. This transaction is linked to the company's share buyback program initiated on June 18, 2021. The Significant Shareholder entered into a share repurchase agreement to retain a voting rights level of 36.34% in ArcelorMittal's share capital. Further details on the buyback program are accessible on the company’s website and the Luxembourg Stock Exchange’s database.
ArcelorMittal has announced a major restructuring of its operational segments, moving management of its captive mining operations into its steel segments. This change is part of its strategy to streamline operations and optimize business functions. The Mining segment will now focus solely on seaborne-oriented operations, renaming itself to Seaborne Iron Ore. Historical financial data will be recast to reflect this update. In 2020, ArcelorMittal reported revenues of $53.3 billion and produced 71.5 million metric tonnes of crude steel.
ArcelorMittal has announced the results of its invitation for bondholders to sell up to EUR 1.5 billion in selected bonds. The acceptance results show no purchases for the EUR 500 million 0.950% Notes and EUR 750 million 1.000% Notes, while the EUR 1 billion 2.250% Notes and EUR 750 million 1.750% Notes had €470.98 million and €0 accepted, respectively. The settlement date is set for 29 June 2021. This invitation is subject to specific restrictions and is not open to U.S. persons. The company aims to manage its debt through this offer.
On June 17, 2021, ArcelorMittal launched a tender offer to purchase its 3.600% notes due 2024, 6.125% notes due 2025, and 4.550% notes due 2026. The offer expired on June 24, 2021, with validly tendered amounts reported as $464.8M for the 2024 notes, $73.4M for the 2025 notes, and $354.6M for the 2026 notes. Payment for accepted offers is anticipated on June 29, 2021. The company is engaging several dealer managers and has retained D.F. King as the information agent.
ArcelorMittal announces the completion of its second share buyback program, repurchasing 17,847,057 shares for approximately €468.8 million (US$570 million) at an average price of €26.27. A third buyback program is set to begin today with a value of US$750 million, funded by the sale of Cleveland-Cliffs common stock. This initiative aims to meet debt obligations and decrease share capital, expected to conclude by 31 December 2021.
ArcelorMittal announced a share transaction notification related to its share buyback program. This transaction involves a repurchase agreement with a Significant Shareholder to maintain voting rights at 36.34% of the company's share capital. The details of this transaction can be found in the Luxembourg Stock Exchange database and on ArcelorMittal's website. The share buyback program was initially announced on 4 March 2021, aiming to optimize the company's capital structure.
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