Group 1: Investment and Decarbonization Efforts - ArcelorMittal has begun construction of an electric arc furnace (EAF) for long products at its Gijon plant, with an investment of €213 million (approximately $230 million), marking a significant step in the European decarbonization program [1] - The new EAF process will reduce CO2 emissions by over 35%, potentially achieving a reduction of 1 million tons of CO2 equivalent annually once fully operational [1] - This project positions the Long Products division in Asturias as a leader in European decarbonization efforts and is the first major investment under ArcelorMittal's decarbonization strategy in Europe [2] Group 2: Production and Market Demand - The advanced EAF technology will enable the production of high-value rails and wire rods, catering to sectors such as automotive, construction, and rail infrastructure, which have strict carbon criteria [2] - ArcelorMittal anticipates a rebound in apparent demand in 2024 due to low inventory levels in Europe, projecting global steel consumption growth (excluding China) of 3-4% [3] - The company expects increases in steel consumption of 1.5-3.5% in the United States, 2-4% in Europe, 0.5-2.5% in Brazil, and 6.5-8.5% in India [3] Group 3: Financial Outlook and Capital Expenditure - ArcelorMittal plans capital expenditures of $4.5-$5 billion for the year, with $1.4-$1.5 billion allocated to strategic growth projects [3] - The company remains optimistic about medium to long-term steel demand prospects and is committed to providing shareholder returns [3]

For the quarter ended March 2024, ArcelorMittal (MT) reported revenue of $16.28 billion, down 12% over the same period last year. EPS came in at $1.16, compared to $1.27 in the year-ago quarter.The reported revenue represents a surprise of +2.89% over the Zacks Consensus Estimate of $15.82 billion. With the consensus EPS estimate being $0.93, the EPS surprise was +24.73%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine the ...

Core Insights - ArcelorMittal reported a significant recovery in financial performance for Q1 2024, with net income of $0.9 billion compared to a net loss of $3.0 billion in Q4 2023, driven by improved steel prices and shipment volumes [2][15][14] - The company is focused on organic growth through strategic capital expenditures, aiming to enhance EBITDA potential by approximately $1.8 billion by the end of 2026 [3][34] - Health and safety remain a top priority, with ongoing audits aimed at achieving zero serious injuries and fatalities [2][9] Financial Performance - Q1 2024 sales increased by 11.9% to $16.3 billion from $14.6 billion in Q4 2023, attributed to higher average steel selling prices (+4.8%) and increased steel shipment volumes (+1.4%) [14][15] - EBITDA for Q1 2024 rose by 34.6% to $1.956 billion compared to $1.454 billion in Q4 2023, reflecting improved results across North America, Brazil, Europe, and India [14][15] - The company experienced a free cash outflow of $1.4 billion in Q1 2024 due to seasonal working capital needs and capital expenditures [16] Operational Highlights - Steel shipments increased by 5.0% in Q1 2024 compared to Q4 2023, with crude steel production reaching 14.4 million tonnes [2][41] - The company has made strategic investments in growth projects, including a 28% stake acquisition in Vallourec for approximately $1.1 billion, enhancing its position in the value-added tubular market [3][34] - The company’s net debt increased to $4.8 billion at the end of Q1 2024, up from $2.9 billion at the end of Q4 2023, primarily due to seasonal working capital investments [16] Regional Performance - North America saw a 13.8% increase in sales to $3.3 billion in Q1 2024, driven by higher average steel selling prices and increased shipments [19] - In Brazil, sales rose by 12.6% to $3.1 billion, although steel shipments declined by 10.7% due to seasonal inventory build and lower domestic demand [21] - Europe reported an 18.4% increase in sales to $7.8 billion, attributed to improved shipment volumes following destocking [24] Strategic Initiatives - The company is advancing its decarbonization projects, including a 1GW renewables project in India and the Vega CMC project in Brazil, expected to commence operations in H1 2024 [3][7] - ArcelorMittal plans to maintain a minimum of 50% return of post-dividend free cash flow to shareholders through share buyback programs [3][34] - The company is also focused on producing low-carbon steel, with plans to showcase its XCarb® products during the Paris Olympics [7][34]

30 April 2024, 18:15 CET The Annual General Meeting (‘General Meeting') of shareholders of ArcelorMittal held today in Luxembourg approved all resolutions by a strong majority. 78.47% of the voting rights were represented at the General Meeting. The results of the votes will be posted shortly on www.arcelormittal.com under ‘Investors – Equity investors – Shareholders events – AGM – Annual General Meeting of shareholders, 30 April 2024' where the full documentation regarding the General Meeting is available. ...

Wall Street analysts expect ArcelorMittal (MT) to post quarterly earnings of $0.93 per share in its upcoming report, which indicates a year-over-year decline of 26.8%. Revenues are expected to be $15.4 billion, down 16.7% from the year-ago quarter.The consensus EPS estimate for the quarter has been revised 12.4% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Ahead of a company's e ...

Core Insights - ArcelorMittal published its 2023 Integrated Annual Review (IAR) titled 'Preparing for the future', focusing on sustainability, safety, and stakeholder engagement [1][5] Group 1: Business Overview - The company generated revenues of $68.3 billion in 2023, produced 58.1 million metric tonnes of crude steel, and 42.0 million tonnes of iron ore [7] - ArcelorMittal operates in 60 countries, with primary steelmaking operations in 15 countries, making it the largest steel producer in Europe and a significant player in the Americas and Asia [7] Group 2: Sustainability and Safety - The IAR includes updates on climate-related risks, scope 3 emissions, and certifications to ESG standards like ResponsibleSteel™ [1] - A comprehensive independent safety audit was launched in December 2023 to enhance safety performance across operations [2] - The company emphasizes a culture of safety and care, which is essential for operational success and employee engagement [3] Group 3: People and Culture - ArcelorMittal employs 150,000 people directly and focuses on attracting and developing talent through a people strategy based on leadership, talent development, and diversity and inclusion [4] - The company is advancing its Diversity and Inclusion roadmap to foster engagement and productivity [6] Group 4: Strategic Goals - The IAR outlines the company's commitment to decarbonization, community engagement, and sustainable practices within the natural environment [5][6] - The company aims to produce innovative steels that use less energy, emit less carbon, and support renewable energy infrastructure [8]

10 April 2024, 16:45 CET ArcelorMittal (‘the Company') announced in December 2023 that it had engaged dss+, a leading provider of sustainable operations management consulting services, to conduct a company-wide audit of its safety practices. Today, it shares a first interim update about what has been achieved in the first three months of the audit, and the scale and scope of the work underway. The complete audit is expected to take nine months to complete with the key recommendations due to be published in ...

Core Viewpoint - ArcelorMittal announces the appointment of Kleber Silva as the new CEO of ArcelorMittal Mining, effective April 8, 2024, following the departure of Stefan Buys [1][4] Group 1: Leadership Changes - Kleber Silva is re-joining ArcelorMittal after a tenure at Eramet, where he served as deputy CEO and COO responsible for mining and metals [2] - Stefan Buys, the outgoing CEO of ArcelorMittal Mining, will leave the company on March 30, 2024, after successfully advancing the mining business in Liberia and Canada [1][4] Group 2: Kleber Silva's Background - Kleber Silva has 35 years of experience in the mining and metal industries, with a strong track record in safety, value creation, and operational excellence [2] - He previously held various senior roles at Vale and was Vice President of ArcelorMittal, overseeing mining operations [2][3] Group 3: Company Overview - ArcelorMittal is a leading integrated steel and mining company with operations in 60 countries and primary steelmaking in 15 countries [6] - In 2023, ArcelorMittal generated revenues of $68.3 billion, produced 58.1 million metric tonnes of crude steel, and 42.0 million tonnes of iron ore [6] Group 4: Future Focus - Kleber Silva expressed enthusiasm for addressing key industry trends such as safety, ESG, decarbonization, and digitalization in his new role [5] - The company aims to produce smarter steels that are cleaner, stronger, and reusable, supporting the transition to renewable energy infrastructure [7]

12 March 2024, 22:00 CET ArcelorMittal (the ‘Company') today announces that it has signed a Share Purchase Agreement to acquire 65,243,206 shares, representing c.28.4% equity interest in Vallourec, for €14.64 per share from Funds managed by Apollo Global Management, Inc., for a total consideration of approximately €955 million. Transaction closing is subject to regulatory approvals and is expected to close in the second half of the year. Having carried out a successful restructuring in recent years, Vallou ...

HJBC Dear readers/followers, Of course, I wish I could say that ArcelorMittal (NYSE:MT) had moved in the way that I tried to predict in my last article, which was now almost a full year ago. I've owned a small stake in this company for several years, and I bought more to this stake at the last time of publishing. Since that particular time, the company has not exactly performed as expected, with an 11% negative RoR. In this article, and you can find my previous coverage here, I will provide you an updat ...