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ArcelorMittal - MT STOCK NEWS

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.

Rhea-AI Summary

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.

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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.

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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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ArcelorMittal announces the publication of its first quarter 2024 sell-side analyst consensus figures. The consensus figures include 1Q’24 EBITDA of $1,814 million, net income of $733 million, and earnings per share of $0.91. The Company has filed its 2023 Factbook reflecting reportable segments and EBITDA for FY 2021, FY 2022, and FY 2023. The estimates are based on Visible Alpha consensus dated 25.4.24, with a disclaimer provided by Visible Alpha regarding data accuracy.
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ArcelorMittal has published its 2023 Integrated Annual Review focusing on safety, sustainability, and future growth opportunities. The review covers key aspects such as climate-related risks, diversity and inclusion, safety culture, and progress in decarbonization efforts.
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ArcelorMittal engages dss+ for safety audit update
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ArcelorMittal launches 'The Steel Works' content series featuring insights from global leadership team, focusing on steel industry trends, climate transition, innovation, and workforce development.
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ArcelorMittal announces the convening notice for its Annual General Meeting of shareholders on 30 April 2024. Shareholders entitled to vote will be those on record as of 16 April 2024. Mrs. Karyn Ovelmen steps down as chair of the Board's Audit & Risk Committee.
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ArcelorMittal discloses a share transaction notification by a Designated Person, in compliance with EU market abuse regulations. The notification can be accessed on the Luxembourg Stock Exchange's database and ArcelorMittal's website.
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ArcelorMittal releases its 2023 financial statements, accessible on Luxembourg Stock Exchange's database and corporate website.
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FAQ

What is the current stock price of ArcelorMittal (MT)?

The current stock price of ArcelorMittal (MT) is $23.18 as of December 20, 2024.

What is the market cap of ArcelorMittal (MT)?

The market cap of ArcelorMittal (MT) is approximately 17.8B.

What is ArcelorMittal's primary business?

ArcelorMittal is primarily involved in the steel manufacturing and mining industries, producing a range of products including hot-rolled coil, cold-rolled coil, coated products, and long products.

Where is ArcelorMittal headquartered?

ArcelorMittal is headquartered in Luxembourg City, Luxembourg.

What are ArcelorMittal's main operational segments?

ArcelorMittal's operational segments include NAFTA, Brazil, Europe, ACIS, and Mining.

What was ArcelorMittal's EBITDA for FY 2023?

ArcelorMittal reported an EBITDA of $7.6 billion for FY 2023.

What recent strategic initiatives has ArcelorMittal undertaken?

ArcelorMittal is advancing several strategic projects, including investments in low carbon steel production and renewable energy infrastructure.

What is the significance of the Kazakhstan operations sale to ArcelorMittal?

The sale of Kazakhstan operations to Qazaqstan Investment Corporation impacted the company's financials, including a $2.4 billion effect on net income for FY 2023.

How is ArcelorMittal addressing safety in its operations?

ArcelorMittal has commissioned an independent safety audit to improve safety protocols and culture, aiming to prevent serious accidents.

What is ArcelorMittal’s stance on sustainability?

ArcelorMittal is committed to producing steels using innovative processes that consume less energy and emit less carbon, supporting global sustainability goals.

Where is ArcelorMittal listed?

ArcelorMittal is listed on stock exchanges in New York, Amsterdam, Paris, Luxembourg, and Madrid under the symbol MT.

What are some key financial metrics for ArcelorMittal at the end of 2023?

As of the end of 2023, ArcelorMittal had a net income of $0.9 billion, net debt of $2.9 billion, and liquidity of $13.2 billion.

ArcelorMittal

NYSE:MT

MT Rankings

MT Stock Data

17.78B
777.81M
4.29%
0.47%
Steel
Basic Materials
Link
United States of America
Luxembourg City