Seeking Alpha

ArcelorMittal (MT)

  • Thu, Apr. 23, 3:49 PM
    • Steel companies are higher after Nucor (NUE +3.5%) reported Q1 earnings that exceeded analyst estimates and came in above the company's own earlier guidance of $0.10-$0.15.
    • NUE says overall Q1 operating performance at its steel mills segment fell significantly Q/Q, as expected, primarily due to lower selling prices and margins resulting from the high level of steel imports flooding the domestic market, which the company says accounted for 33% of the finished steel market in the quarter.
    • NUE reports shipments to outside customers declined 9% and average selling prices dropped 5% during the quarter.
    • NUE says its automotive markets remained strong in Q1, and continues to see improving demand in non-residential construction markets; it expects Q2 earnings will improve Q/Q with steel mill margins likely to increase but remaining under pressure because selling prices have not fully stabilized and imports remain high.
    • Related tickers: X +4.5%, AKS +6.7%, MT +4.9%, RS +9.5%, STLD +3.5%, WOR +2%, CMC +2.7%.
    | Comment!
  • Fri, Feb. 13, 6:21 AM
    • ArcelorMittal (NYSE:MT) warned this morning of lower profits in 2015 but surprised the market by managing to cut its debt to the lowest level since the company was created in 2006.
    • The steelmaker said it expects core profits to drop to between $6.5B-$7B in 2015, from $7.2B in 2014, as dwindling prices of iron ore dent a recovery in steel demand.
    • Despite a 5% decline in Q4 profit, ArcelorMittal posted a $1.1B net loss for 2014, an improvement on a $2.5B net loss a year ago.
    • MT +1.9% premarket
  • Thu, Feb. 12, 5:30 PM
  • Nov. 7, 2014, 7:39 AM
    • ArcelorMittal (NYSE:MT) +2% premarket after reporting Q3 operating earnings doubled on improved European operations and higher steel volumes, despite a decline in iron ore prices.
    • Q3 revenues rose 2.2% Y/Y to $20.1B, while EBITDA jumped 11% to $1.91B, beating analysts’ expectations of $1.81B.
    • Q3 operating income for Europe was $166M, the third consecutive quarter of profit in the region after six straight quarters of losses.
    • Steel shipments totaled 21.5M tons, up 3.9% Y/Y, while iron ore shipments were 10M tons, up 6.3%.
    • Says it expects full-year EBITDA will exceed $7B as the negative impact of declining iron ore prices on mining profitability is being offset by an improvement in the steel business.
    | Comment!
  • Nov. 7, 2014, 5:03 AM
    • ArcelorMittal (NYSE:MT): Q3 Net Income of $22M
    • Revenue of $20.06B (+2.1% Y/Y) misses by $310M.
    • Press Release
    | Comment!
  • Nov. 6, 2014, 5:30 PM
  • Aug. 1, 2014, 7:59 AM
    • ArcelorMittal (NYSE:MT-6.3% premarket after reporting below consensus Q2 earnings and warning it will miss its target for full-year earnings, as shipments are being hit by lower commodity prices.
    • MT says FY 2014 EBITDA likely would total more than $7B, below a previous forecast of ~$8B, reflecting a probable average iron ore price of $105/metric ton for this year vs. prior expectations for $120.
    • While the softening of iron ore prices may hurt MT's relatively small mining segment, the result could be countered by stronger demand for the steel that makes up most of the company’s business.
    • Also, MT agrees to acquire a near 50% effective stake in Guinea's Mount Nimba iron ore project, buying out shareholders BHP and Areva for an undisclosed sum; the high-quality deposit is 40 km from MT's existing Liberian iron ore mine, which means the steelmaker could take advantage of its existing rail and port infrastructure in Liberia to lower development costs.
  • Aug. 1, 2014, 6:25 AM
    • ArcelorMittal (NYSE:MT): Q2 EPS of $0.03 misses by $0.17.
    • Revenue of $20.7B (+2.5% Y/Y)
    • Shares -6.2% PM.
    • Press Release
    | 1 Comment
  • Jul. 31, 2014, 5:30 PM
  • May. 9, 2014, 5:00 AM
    • ArcelorMittal's (MT) EBITDA rose 12% to $1.75B in Q1 and met analyst expectations, while revenue edged up 0.2% to $19.79B.
    • The steel-maker's net loss narrowed to $205M from $345M a year earlier, with the latest figure affected by $1.08B in depreciation and amortization, net interest expenses of $426M and losses from currency fluctuations and other financing charges of $384M.
    • Steel shipments rose 21% and marketable iron ore shipments 28%, offsetting a fall in ArcelorMittal's average achieved steel and iron-ore selling prices.
    • Net debt increased to $18.5B from $16.1B at the end of December, but the company reiterated its target to cut the figure to $15B in the medium term.
    • The firm also reaffirmed that it expects 2014 EBITDA to grow to $8B from $6.89B last year, but it increased its 2015 iron-ore production target by 11M tons to 95M tons.
    • "The prospects for growth of our core markets in Europe and the U.S. are encouraging and overall we remain cautiously optimistic about the business outlook for the rest of 2014," ArcelorMittal CEO Lakshmi Mittal said.
    • Still, the company reduced its 2014 growth outlook for global steel consumption to 3-3.5% from a previous forecast of 3.5-4% and vs last year's increase of 3.5%. The firm expects weaker steel demand in Russia, Ukraine and emerging markets such as China.
    • Shares are -2.3% in Amsterdam. (PR)
    | 1 Comment
  • May. 8, 2014, 5:30 PM
  • Feb. 7, 2014, 3:00 AM
    • ArcelorMittal's (MT) Q4 EBITDA climbed 23% to $1.91B, topping analyst forecasts of $1.8B, as revenue increased 2.8% to $19.85B.
    • Profits were boosted by a 4.4% rise in steel shipments to 21M tons, a 56% increase in marketable iron-ore shipments, cost savings and asset restructuring.
    • ArcelorMittal's net loss narrowed to $1.23B from $3.81B a year earlier, partly due to a drop in one-off charges to $1.3B from $4B.
    • Net debt at the end of last year was $16.1B, down $5.7B during 2013.
    • The company is cautiously optimistic about its prospects, and forecasts that 2014 EBITDA will increase to $8B from $6.89B in 2013. Consensus is for $8.1B.
    • ArcelorMittal also expects global steel consumption to rise 3.5-4% this year vs +3.5% last year. (PR)
  • Feb. 7, 2014, 12:05 AM
  • Feb. 6, 2014, 5:30 PM
  • Nov. 7, 2013, 7:46 AM
    • ArcelorMittal (MT) remains interested in a potential purchase of ThyssenKrupp's (TYEKY, TYEKF) steel rolling mill in Alabama, CFO Aditya Mittal said in this morning's earnings call.
    • Shares +5.7% premarket after reporting improved Q3 results and offered an optimistic outlook; analysts say the results probably would prompt market upgrades of core profit forecast by 2%-4%.
    | Comment!
  • Nov. 7, 2013, 3:00 AM
    • ArcelorMittal's (MT) EBITDA climbed 19% to $1.71B and beat consensus of $1.53B, boosted by a 1-2% rise in steel shipments, a 20% increase in iron ore shipments sold at market prices, and cost cuts.
    • Sales at the world's largest steel maker slipped to $19.64B from $19.72B but surpassed Street expectations of $19.84B.
    • Net losses from continuing operations narrowed to $193M from $652M a year earlier.
    • Losses per share were $0.12 vs $0.42 last year.
    • Operating income jumped to $477M from $55M.
    • Took charge of $101M related to a discontinued iron-ore project in Senegal.
    • Forecasts that global steel consumption will rise 3.5%, above a prior forecast of 3%.
    • "The bottom of the cycle is behind us," says CEO Lakshmi Mittal. "Although operating conditions remain challenging, as economic indicators are improving, we are cautiously optimistic about the prospects for 2014."
    • Projects full-year EBITDA of over $6.5B.
    • ArcelorMittal plans to reduce net debt to $17B from $17.8B by the end of Q4. (PR)
    | 1 Comment
Visit Seeking Alpha's
MT vs. ETF Alternatives
Company Description
ArcelorMittal SA is a steel and mining company. Its products include flat products such as sheet & plate and long steel products. It serves automotive, construction, household appliances and packaging markets.
Industry: Steel & Iron
Country: Luxembourg