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ArcelorMittal

5/20/2013, 7:31 AM ET

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Friday, May 10, 10:03 AM ArcelorMittal (MT +4%) opens higher after posting a strong operational quarter despite the difficult environment. Liquidity increased to $18B from $14.5B Q/Q, and net debt fell by $3.8B due primarily to capital market transactions and proceeds from asset sales. Full-year EBITDA guidance of $7.1B is unchanged, though it assumes iron ore prices and steel margins over raw materials are similar to 2012 levels. Comment! [Commodities, On the Move]
Friday, May 10, 9:10 AM Premarket gainers: PGNX +26%. UNIS +21%. UBNT +19%. SQNM +11%. MCP +11%. XIN +7%. NBG +6%. NTE +5%. MT +5%.
Losers: PTIE -48%. IFMI -36%. AFFY -18%. SNTS -7%. OPTR -7%. DDD -6%. MDRX -6%. LFVN -5%. Comment! [On the Move]
Friday, May 10, 5:13 AM More on ArcelorMittal's (MT) earnings: A net loss of $345M or -$0.21 per share for Q1 on revenue of $19.752B is worse than Q1 2012, but the results are an improvement over the previous quarter. CEO Lakshmi Mittal says the economic environment "remains challenging," but sounds upbeat about the company's performance in the face of a soft market. MT says EBITDA (which, like the profit and revenue picture, improved slightly from Q4), should continue to improve sequentially and should come in above $7.1B for the full year. Comment! [Commodities, Earnings]
Friday, May 10, 4:56 AM ArcelorMittal (MT) reported Q1 net loss of $345M vs. $92M profit in 1Q12. Sales of $19.75 (-16% Y/Y) vs. $22.7B in 1Q12. (PR) 1 Comment [Earnings, Breaking News]
Friday, May 10, 12:05 AM Notable earnings before Friday’s open: AWR, DRH, EVEP, HL, MT, PGNX, TRLG, VTG, WCRX Comment! [Earnings]
Thursday, May 9, 5:30 PM Notable earnings before Friday’s open: AWR, DRH, EVEP, HL, MT, PGNX, TRLG, VTG, WCRX Comment! [Earnings]
Friday, April 26, 4:39 PM Steel prices have slumped sharply this month, prompting steelmakers (SLX) such as Nucor (NUE), ArcelorMittal (MT) and ThyssenKrupp to send out letters last week notifying customers that they would no longer offer discounts on index prices, WSJ reports. The effort to halt rampant undercutting faces challenges from other steelmakers that continue to offer discounts and special deals. Comment! [Commodities]
Tuesday, April 16, 8:24 AM Most of this morning's biggest premarket gappers come from yesterday's downtrodden mining losers: GFI +7.8%, AU +6.6%, GOLD +6.1%, KGC +4.8%, ABX +4.1%, AG +4%, HMY +3.2%, HL +3.1%, AUY +2.8%, EGO +2.6%, SLW +2.5%, RIO +2.3%, NEM +2%, MT +1.9%. ETFs: GDX +2.8%, SLV +2.8%, GLD +2.3%. Comment! [Commodities, On the Move]
Monday, April 15, 7:00 PM The list of 52-week lows reached today is littered with miners and resource names: ABX, ACI, AG, AKS, ANV, AU, AUQ, AUY, CDE, CLF, CVE, EGO, EXK, EXXI, FCX, FNV, FST, GFI, GG, GOLD, HL, HMY, IAG, IPI, KGC, MHR, MT, MTL, NEM, NFX, NG, NGD, NOG, PAAS, PWE, RGLD, RIC, SA, SAND, SGY, SSRI, SVM, TCK, TGB, TRQ, WLT, WTI, X. 5 Comments [Commodities, Energy]
Tuesday, March 19, 6:05 PM Final offers for ThyssenKrupp's (TYEKF.PK) steel plants in Brazil and Alabama reportedly are well below expectations, as the German steel maker enters the final stretch of a long sales process. A deal could be announced as early as April, but likely will trigger a further writedown of ~$1.3B because the bids are far below the current $5B book value of the plants. 4 Comments [Commodities, Global & FX]
Friday, March 15, 10:44 AM At its Investor Day, ArcelorMittal (MT -0.5%) sets out a new $3B plan to save money from production and confirms its target of reducing debt sharply this year. The new target is aimed at increasing its core profit per metric ton of steel produced to $150 after it fell to $85/ton in 2012 from $118 a year earlier. MT says it is on course to have iron ore mining capacity of 84M metric tons by 2015. Comment! [Commodities]
Thursday, March 14, 9:34 AM Steelmaker ArcelorMittal (MT +1.9%) is upgraded to Buy from Neutral at Citi, which believes MT will carry out a strategic overhaul which may help support its troubled European business. The firm favors separation of European assets from the rest of the group, which would give investors exposure to strong Americas and mining units. Comment! [Commodities, Quick Ideas, On the Move]
Wednesday, February 6, 11:18 AM ArcelorMittal's (MT +0.7%) Q4 earnings weren't anything to cheer about, but its outlook for future steel demand offers hope that economic conditions are slowly improving. "We are seeing an improvement in terms of shipments in all markets," CFO Aditya Mittal says. Also, further shutdowns of European operations are unlikely, as European steel demand should slip only 1% in 2013 vs. 2012's 8.8% drop. Comment! [Commodities, Earnings, Global & FX]
Wednesday, February 6, 2:53 AM More on ArcelorMittal (MT) Q4: massive net loss due to $4.3B hit from write-down of the value of European steel ops and $1.3B related to the idling and closure of facilities. Net debt -$1.4B to $21.8B. Forecasts output of +2% to +3% in 2013; expects global steel consumption of +3% after +2% in 2012, with growth in China and Brazil speeding up and Europe's contraction decelerating. Comment! [Commodities, Earnings]
Wednesday, February 6, 2:42 AM ArcelorMittal (MT): Q4 EBITDA -23% to $1.32B vs consensus of $1.25B. Net loss $3.99B vs $1B. Revenues -14% to $19.31B. Expects 2013 EBITDA to exceed last year's $7.1B as it ships more steel, with analysts expecting $8B. (PR) Comment! [Earnings, Commodities]
Wednesday, February 6, 12:05 AM Notable earnings before Wednesday’s open: ABMD, AINV, CMI, CMP, CVH, CVS, ELN, GAS, ICE, IVR, MPEL, MRO, MT, NUS, PLD, RL, TWX, USG, VICL, VMED Comment! [Earnings]

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