|Bid||11.14 x 1800|
|Ask||11.15 x 900|
|Day's Range||11.14 - 11.25|
|52 Week Range||6.64 - 18.89|
|Beta (5Y Monthly)||2.08|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 21, 2017 - Feb 27, 2017|
|Forward Dividend & Yield||0.20 (1.90%)|
|Ex-Dividend Date||May 16, 2019|
|1y Target Est||16.72|
Image source: The Motley Fool. ArcelorMittal NY Registered Shs (NYSE: MT)Q2 2020 Earnings CallJul 30, 2020, 1:30 p.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Daniel Fairclough -- Vice President-Corporate Finance and Head of Investor RelationsThank you very much.
Shares of ArcelorMittal (NYSE:MT) decreased 3% in pre-market trading after the company reported Q2 results.Quarterly Results Earnings per share decreased 219.05% over the past year to ($0.50), which were in line with the estimate of ($0.50).Revenue of $10,976,000,000 declined by 43.07% year over year, which beat the estimate of $10,840,000,000.Looking Ahead ArcelorMittal hasn't issued any earnings guidance for the time being.View more earnings on MTRevenue guidance hasn't been issued by the company for now.Price Action 52-week high: $18.89Company's 52-week low was at $6.64Price action over last quarter: down 0.70%Company Overview ArcelorMittal is the largest player in the global steel industry. Formed in 2006 via the merger of Arcelor and Mittal Steel, the two largest steelmakers at the time, ArcelorMittal now produces more than 5% of the world's steel. The company derives the majority of its revenue from North America and Europe, while emerging markets account for approximately 40% of total sales.See more from Benzinga * Earnings Scheduled For July 30, 2020 * 5 Basic Materials Stocks Moving In Thursday's Pre-Market Session * 10 Basic Materials Stocks Moving In Friday's Pre-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
(Bloomberg) -- ArcelorMittal said it remained cautious about a nascent recovery in its core steel markets, and was considering “structural changes” in light of the disruptions caused by the coronavirus pandemic.“There are now signs of activity picking up, especially in regions where lockdowns have ended, but clearly it is prudent to remain cautious about the outlook,” Chief Executive Officer Lakshmi Mittal said in a statement. “Against this context, we are examining what structural changes might be required to ensure the company is well configured to prosper in the coming years as demand recovers.”The global steel industry in April saw its biggest slump in production in a decade as demand from key consumers, including automakers, was hit hard by coronavirus lockdowns. While top producer China was quick to rebound, ArcelorMittal said a recovery in the global market was not without risks.ArcelorMittal, the biggest steelmaker outside China, last quarter suspended dividends, cut its spending plans and withdrew its global guidance over uncertainty caused by the virus.The worst of the demand environment is over, but the recovery will take time, especially if lockdowns are reintroduced, the company said Thursday. Second-quarter earnings before interest, taxes, depreciation and amortization were $707 million, beating analyst estimates. The shares rose as much as 4.3%.Positive MeasuresThe company doesn’t expect a repeat of strict lockdowns and, under its base case, forecasts demand to normalize “in the medium term,” Chief Financial Officer Aditya Mittal told reporters on a conference call. The producer isn’t ready to disclose details of “structural” changes and permanent cost cuts, but will provide details with its full-year results, he said.“There are still plenty of macroeconomic uncertainties, so I am not surprised that the company’s outlook statement is somewhat vague,” said Ingo Schachel, an analyst at Commerzbank AG. “I find it positive that the company has outlined clear measures to lower costs and cash needs during these challenging times.”While contraction outside China has eased, output in some regions remains a long way off pre-pandemic levels, according to the World Steel Association. Steel demand -- a barometer of the global economy -- will take more than a year to fully recover even with massive stimulus measures worldwide, it said in June.“The first six months of the year, and particularly the second quarter, have been one of the most difficult periods in the history of the company, with demand for steel considerably disrupted by the Covid-19 pandemic,” CEO Mittal said.Other highlights:ArcelorMittal second-quarter Ebitda beats highest estimateNet debt fell to $7.8 billion by end of June, taking company closer to $7 billion targetCompany says $2 billion asset portfolio program is progressingThe steelmaker plans to resume dividend payments once operating conditions normalize(Updates with shares in fifth paragraph and CFO comments in sixth)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
ArcelorMittal, the world's largest steelmaker, reported higher than expected second quarter earnings and said its core markets were showing signs of recovery, albeit from exceptionally low levels. ArcelorMittal, which withdrew its guidance for global steel consumption in May, said the speed and course of the demand recovery following the pandemic remained uncertain.
Twenty-one workers at a steel plant owned by ArcelorMittal in the Mexican port city of Lazaro Cardenas have died from COVID-19, the steelworkers' trade union said Saturday. The dead include employees, contractors and suppliers to the plant, said Carlos Solorio, secretary general of the local branch of the national mining and metallurgical workers' union. "Everyone was working for the company," Solorio told Reuters.
Designated person notification 2 July 2020, 11:30 CET With reference to Article 19(3) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16.
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]
ArcelorMittal (’the Company’) has today filed its 2019 report on Payments to Governments in respect of Extractive Activities, which provides a consolidated overview of payments made by the Company and its subsidiaries in 2019 to governments regarding its mining operations. ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and an industrial footprint in 18 countries.
ArcelorMittal on Thursday outlined plans and costs for steelmaking processes that produce less carbon, but also called for investment support from European Union states as well as carbon border taxes. Europe's steelmakers like ArcelorMittal, are under pressure to cut carbon emissions while maintaining profitability in a market where there is fierce competition, mainly from China. "The support the EU and member states can give to ensure we have a well-designed policy to make large-scale, competitive, carbon-neutral steelmaking a reality, is critical," Chief Financial Officer Aditya Mittal said on a call.
ArcelorMittal (the “Company”) announces that on 22 June 2020 it received two shareholding notifications from Société Générale SA. The notifications were made to reflect the entry into by Société Générale SA mainly of various financial instruments (as detailed in the notifications). These notifications are published pursuant to the Luxembourg law of 11 January 2008 on transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market, as amended from time to time, in view of a shareholding notification going above the 5% voting rights threshold.
ArcelorMittal Europe sets out path to net zero by 2050, with pioneering technologies at the forefront of the company’s roadmap for carbon-neutral steelmaking 1100 CET, 25 June.
Moody's Investors Service changed Phoenix Services International LLC's (Phoenix Services) outlook to negative from stable. At the same time, Moody's affirmed Phoenix Services' B2 Corporate Family Rating (CFR), B2-PD Probability of Default Rating (PDR) and the B2 rating on Phoenix Services Merger Sub LLC's $65 million senior secured revolving credit facility and its $465 million senior secured term loan.
Metals-producing companies saw their stocks rebound on Friday from Thursday's sharp sell-off, with shares of steelmakers ArcelorMittal (NYSE: MT) rebounding to post an 8.4% gain, U.S. Steel (NYSE: X) rising 10.8%, and aluminum giant Alcoa (NYSE: AA) closing up 10.7%. Logically, if those shares were going to move higher, they should have done so in response to the good news on metals prices.
Luxembourg 13 June 2020 (13:00 CET) – 68% of the voting rights were represented at the General Meetings. In view of the Covid-19 outbreak, the Board of Directors of ArcelorMittal (the “Company”) had decided to hold this year’s General Meetings by virtual-only format, as permitted by Luxembourg law. The results of the votes will be posted shortly on www.arcelormittal.com under "Investors – Equity investors – Shareholders-events – AGM – Annual General Meeting and Extraordinary General Meeting of shareholders, 13 June 2020" where the full documentation regarding the General Meetings is available.
ROME (Reuters) - - The Italian government rejected ArcelorMittal's latest plan for the loss-making Ilva steel plant on Tuesday which it said included major job cuts and went back on investment pledges as workers held a strike to protest the plan. The world's biggest steel producer took over the plant in the southern city of Taranto in 2018 but its rescue plans have triggered months of wrangling. Ministers and labour officials met by video linkup on Tuesday to discuss the latest proposals, which had already prompted unions to call a 24-hour strike.
Unions representing workers at the Ilva steel plant in southern Italy called a strike for Tuesday to protest at reported plans by ArcelorMittal for thousands of job cuts at the struggling facility. The call by the FIM, FIOM and UILM unions came after Industry Minister Stefano Patuanelli accused the group of failing to respect the terms of a rescue agreement signed with the government in March. Under that agreement, ArcelorMittal agreed to suspend plans to walk away from the plant in the southern city of Taranto, which it acquired in 2018, in exchange for a significant injection of state funding.
27 May 2020 – ArcelorMittal (‘the Company’), the world’s leading steel and mining company, has today published its 2019 integrated annual review, ‘Inventing smarter steels for a better world’. The review, which can be accessed at https://corporate.arcelormittal.com/corporate-library/reporting-hub/integrated-annual-review-2019, underpins the Company’s commitment to transparent reporting. It has been produced in-line with the International Integrated Reporting Council’s framework and demonstrates the Company’s approach to ensuring it brings long-term, sustainable value to its broad stakeholder base.
Privately owned Liberty Steel Group said on Monday it has appointed a former executive of ArcelorMittal to a top role in the firm. Paramjit Kahlon will become chief executive of primary steel and integrating mining at British-based Liberty Steel, part of the GFG Alliance, the steelmaker said in a statement. GFG, a conglomerate owned by the family of British commodities tycoon Sanjeev Gupta, announced last October it was merging its steel operations into a new entity to be ready for a potential listing.
18 May 2020, 13:15 CET ArcelorMittal (‘the Company’) announces that a 5.11% shareholding notification by BlackRock Inc. is available in the Luxembourg Stock Exchange’s.
ArcelorMittal (‘the Company’) announces the publication of the convening notice for its Annual General Meeting and Extraordinary General Meeting of shareholders (‘General Meetings’), which will be held on Saturday 13 June 2020 at 12 noon CET. In view of the COVID-19 outbreak, and related limitations on travel and gatherings, ArcelorMittal is taking precautionary measures to limit exposure for its employees, shareholders and other stakeholders. The Company’s Board of Directors has therefore decided to hold this year’s General Meetings without a physical presence, as permitted under Luxembourg law.
European stocks rebounded on Tuesday amid data showing new coronavirus cases slowed, while two of Europe’s largest steelmakers skidded as demand deteriorates.
ArcelorMittal <MT.AS>, the world's largest steelmaker, is issuing $2 billion of shares and convertible notes at a deep discount to accelerate debt reduction plans that have been slowed by the COVID-19 pandemic. On Tuesday, the shares were trading 4.6% lower on the day at 8.23 euros at 0800 GMT, making them the worst performers in the FTSEurofirst300 index <.FTEU3> of leading European shares. ArcelorMittal will also issue $1.25 billion of mandatory convertible notes with a maturity of three years and paying an annual coupon on 5.5%.
This announcement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons. This announcement and this offering are only addressed to and directed at persons in Member States of the European Economic Area (“EEA”) and in the UK who are "Qualified Investors" within the meaning of Article 2(e) of the Prospectus Regulation.