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.
On 11 May 2021, ArcelorMittal informed about a share transaction by a Designated Person, accessible in the Luxembourg Stock Exchange’s OAM database and on its website. This transaction is related to the share buyback program announced on 4 March 2021. A Significant Shareholder has entered into a share repurchase agreement, ensuring their voting rights remain at 36.34% of ArcelorMittal’s share capital. Further details on this program can be found on their investor relations page.
ArcelorMittal has reported a decrease in shareholding by Société Générale SA, falling from 5.23% to 4.28% as of April 30, 2021. The notification was officially made on May 5, 2021, in compliance with Luxembourg’s Transparency Law. This change indicates a shift in the voting rights threshold for Société Générale, highlighting a significant alteration in their position as a shareholder. For additional details, the full notification can be found on the Luxembourg Stock Exchange website and ArcelorMittal’s investor relations page.
ArcelorMittal has announced the convening notice for its Annual General Meeting and Extraordinary General Meeting to be held on June 8, 2021, at 13:30 CET. Due to Covid-19 restrictions, the meetings will be conducted virtually, in compliance with Luxembourg law. Shareholders eligible to vote will be those registered by the record date of May 25, 2021. Relevant documents including the Annual Report 2020 will be available on the company’s website, and shareholders can request a copy via email.
On May 6, 2021, ArcelorMittal (MT) reported strong 1Q 2021 results, with net income of $2.3 billion and EBITDA soaring by 88% to $3.2 billion, marking its best quarter in a decade. Steel shipments increased by 6.5% sequentially to 16.5 million tons. Operating income reached $2.6 billion, supported by positive steel spreads and operational improvements. Gross debt declined to $11.4 billion, while net debt fell to $5.9 billion. The company announced a $650 million share buyback and plans to further reduce carbon emissions with its XCarb initiative.
ArcelorMittal has announced a share transaction involving a Designated Person, as per Article 19(3) of the EU Market Abuse Regulations. The transaction is part of a share buyback program initiated on March 4, 2021, aimed at maintaining the Significant Shareholder's voting rights in the company at 36.34%. The transaction details are available on the Luxembourg Stock Exchange's electronic database OAM and ArcelorMittal's official website under the Corporate Governance section.
On April 27, 2021, ArcelorMittal reported a share transaction related to its share buyback program initiated on March 4, 2021. This involves a Significant Shareholder entering into an agreement to sell shares to maintain their voting rights at 36.34% of the company's share capital. The transaction details are available on the Luxembourg Stock Exchange’s electronic database and ArcelorMittal’s website under the Corporate Governance section. This move supports the company's strategic financial management and shareholder value preservation.
ArcelorMittal released its first quarter 2021 EBITDA consensus estimates, compiled from around 20 sell-side analysts via Vuma Financial Services. For Q1 2021, 17 analysts participated, projecting an average EBITDA of $2,965 million. The firm emphasizes that it does not influence these estimates and is not responsible for the analysts' opinions.
ArcelorMittal has announced a share transaction notification required under the EU Market Abuse Regulations. This transaction is linked to the company's ongoing share buyback program initiated on 4 March 2021. A significant shareholder has entered into a share repurchase agreement, ensuring their voting rights in ArcelorMittal's share capital remain at 36.34%. Further details can be accessed on the company's website.
On April 15, 2021, ArcelorMittal published its statutory financial statements for the parent company, covering the fiscal year ended December 31, 2020. The financial statements are accessible through the Luxembourg Stock Exchange electronic database and ArcelorMittal's Corporate Library online. This disclosure is vital for investors and stakeholders, providing insight into the company's financial performance during a challenging economic environment.
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