36.00 -0.46 (-1.26%)
Pre-Market: 4:00AM EDT
|Bid||35.00 x 1000|
|Ask||37.00 x 800|
|Day's Range||36.45 - 37.90|
|52 Week Range||19.20 - 47.64|
|PE Ratio (TTM)||16.65|
|Forward Dividend & Yield||0.20 (0.55%)|
|1y Target Est||N/A|
Cleveland-Cliffs (CLF) stock has been on a roller coaster ride for most of 2018. While CLF stock has seen a lot of volatility in 2018, it’s making a strong upward move in the second quarter on strong fundamentals.
A steelworker in Illinois and a farmer in Iowa discuss how the U.S.-China trade tension is impacting their livelihoods.
In this article, we’ll do a comparative analysis of steel companies’ 1Q18 free cash flows. You can define free cash flow as operating cash flow minus capital expenditure (or capex). It’s a measure of a business’s cash flow generation capacity.
By as early as the start of next week, the Trump administration is considering imposing tariffs on nearly 1,300 Chinese exports as a punitive action for alleged theft related to intellectual property (IP). CNN Money provides an indicative list of items that may be subject to tariffs and includes items belonging to the aerospace and marine equipment, manufacturing, and medical supplies sectors, among others. The combined worth of the Chinese items is estimated to be around $50 billion.
In this article, we’ll look at the 2Q18 earnings guidances provided by leading steel companies during their 1Q18 earnings calls.
Previously in this series, we compared steel companies’ 1Q18 shipments and ASPs (average selling price). In this article, we’ll take a look at their 1Q18 EBITDAs (earnings before interest, tax, depreciation, and amortization).
US steel companies, including U.S. Steel Corporation (X), Nucor (NUE), and Steel Dynamics (STLD), reported sequential as well as yearly rises in their 1Q18 ASPs (average selling price).
Previously in this series, we did a comparative analysis of steel companies’ 1Q18 shipments. In this article, we’ll look at their ASPs (average selling price).
AK Steel (AKS) is the only steel company among those under our review to have reported a yearly fall in its 1Q18 steel shipments. In this article, we’ll see what different steel companies have guided for their 2Q18 steel shipments.
Steel companies’ revenues are a function of average steel prices and shipments, so it’s pertinent for steel investors to follow quarterly production and shipment data.
During the 4Q17 earnings call, ArcelorMittal (MT) announced its plan to restore the annual dividend program that was suspended in 2015. The company has reinstated its annual dividend at $0.10 per share from this year. Meanwhile, ArcelorMittal intends to pay dividends as a percentage of its free cash flows once its net debt falls below $6 billion. As of March 31, ArcelorMittal had a net debt of $11.1 billion. The company’s net debt rose almost $1 billion from the sequential quarter amid working capital buildup, a share buyback, and the forex impact in the quarter.
In this part, we’ll discuss some of the key takeaways from ArcelorMittal’s 1Q18 financial results. The company reported revenues of $19.2 billion in 1Q18—compared to $17.7 billion in 4Q17 and $16.0 billion in 1Q17. ArcelorMittal’s 1Q18 revenues were the highest since 3Q14. The company recorded multiyear highs on several other metrics during the quarter.
On May 9, U.S. Steel Corporation (X) received “strong buy” ratings from four analysts, and six analysts gave it a “buy” rating. Five analysts gave a “hold” or equivalent rating on the stock, and one analyst polled by Thomson Reuters on May 9 rated U.S. Steel as a “sell.”
ArcelorMittal (MT), the world’s largest steel producer, released its 1Q18 earnings today, May 11. ArcelorMittal’s 1Q18 EBITDA (earnings before interest, tax, depreciation, and amortization) jumped 12.6% year-over-year to $2.5 billion. ArcelorMittal’s 1Q18 earnings were better-than-expected, and the stock was trading higher in initial trade on European exchanges.
The 1Q18 earnings season is nearly over, and most US-based steel companies have released their quarterly earnings. ArcelorMittal (MT), the world’s largest steel producer, is scheduled to release its 1Q18 earnings on May 11. You can read Word on the Street ahead of ArcelorMittal’s 1Q18 Earnings to explore what analysts are projecting for ArcelorMittal’s 1Q18 earnings.
As we noted in the previous part, U.S. Steel Corporation’s (X) forward valuation multiples appear to be on the lower side compared to other steel stocks including AK Steel (AKS). In this part, we’ll look at U.S. Steel Corporation’s growth drivers. We’ll discuss the risks that could help us understand whether there’s more downside for the stock.
U.S. Steel Corporation: Has the Storm Settled Down? U.S. Steel Corporation (X) is valued at an EV of 4.35x its 2018 consensus EBITDA and 4.13x its 2019 expected EBITDA. AK Steel (AKS) and Steel Dynamics (STLD) are trading at 2018 EV-to-EBITDA multiples of 6.42x and 6.22x, respectively.
ArcelorMittal (MT) subsidiary ArcelorMittal India Private has bid to acquire Essar Steel. According to ArcelorMittal CEO Lakshmi Mittal, “Essar provides a compelling opportunity for ArcelorMittal to enter the high growth Indian steel market.”
On May 7, ArcelorMittal (MT), the world’s biggest steel producer, announced that it had received permission from the European Commission to acquire Ilva. The acquisition is expected to enhance ArcelorMittal’s presence in Italy, Europe’s second-largest steel-consuming region. Despite getting most its revenue from Europe, ArcelorMittal had a limited presence in Italy prior to this deal. The European Commission’s final permission was largely expected after ArcelorMittal agreed to divest some of its assets in Europe.
U.S. Steel Corporation: Has the Storm Settled Down? Like other steel producers, 2018 has been dismal for U.S. Steel Corporation (X). In our coverage of steel stocks, AK Steel (AKS) has lost 23.7%—the most during this period.
During the company’s 1Q18 earnings call, David Burritt, U.S. Steel Corporation’s (X) CEO, talked about “long-term returns” for shareholders. He said, “Those with a short-term perspective will judge us by how we manage in the near-term challenges, but those who have truly invested in our company and share our long-term perspective will judge us by how we develop and optimize our opportunities. We are in this business for the long term and are developing differentiated capabilities to serve customers and benefit not only them but also our employees and investors through the business cycle.”
During the 1Q18 earnings call, U.S. Steel Corporation (X) said that it expects to post an adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $1.7 billion–$1.8 billion in 2018. On the lower end, the guidance is $200 million higher compared to the guidance U.S. Steel Corporation provided during the 4Q17 earnings call.