For the quarter ended December 2023, ArcelorMittal (MT) reported revenue of $14.55 billion, down 13.9% over the same period last year. EPS came in at $1.18, compared to $1.37 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $14.95 billion, representing a surprise of -2.67%. The company delivered an EPS surprise of +156.73%, with the consensus EPS estimate being -$2.08.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

Luxembourg, February 8, 2024 - ArcelorMittal (referred to as "ArcelorMittal" or the "Company" or the "Group") (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world's leading integrated steel and mining company, today announced results1 for the three-month and twelve-month periods ended December 31, 2023. 2023 key highlights: Health and safety focus: Protecting employee health and wellbeing remains an overarching priority of the Company; LTIF2 rate of 0.92x in FY 2023 and 0.70x in FY 2022. P ...

ArcelorMittal S.A. (MT) and Nippon Steel’s joint venture, ArcelorMittal Nippon Steel India (AM/NS India), released its inaugural Climate Action Report. It highlights the venture’s commitment to accelerate and decarbonize India's development. This report comes at a crucial juncture for India's steel sector, as the country aims to achieve a $5-trillion economy and become the third-largest global economy by 2026-27.Aditya Mittal, chairman of AM/NS India, emphasized the importance of addressing the challenge of ...

Financial Performance - FY 2023 EBITDA was $7.6 billion, with an EBITDA per tonne of $136, reflecting structural improvements to profitability [2] - FY 2023 free cash flow was $2.9 billion, with Q4 2023 free cash flow of $1.8 billion [2] - Net income for FY 2023 was $0.9 billion, impacted by a $2.4 billion loss from the disposal of Kazakhstan operations and a $1.4 billion impairment of Acciaierie d'Italia [2] - Sales for FY 2023 decreased by 14.5% to $68.3 billion compared to $79.8 billion in FY 2022, primarily due to a 13.5% decline in average steel selling prices [14] - The company recorded an operating loss of $2.0 billion in Q4 2023, compared to an operating income of $1.2 billion in Q3 2023 [22] - ArcelorMittal reported a net loss of $2,966 million in 4Q 2023, compared to a net income of $929 million in 3Q 2023 [24] - The company reported a net loss attributable to equity holders of $2.966 billion for Q4 2023, compared to a net income of $261 million in Q4 2022 [54] - EBITDA for Q4 2023 was $1.266 billion, with an EBITDA margin of 8.7%, down from 11.2% in Q3 2023 [54] - Free cash flow for the twelve months ended December 31, 2023, was $2.870 billion, down from $6.404 billion in 2022 [56] - Adjusted net income for 12M 2023 was $4.87 billion, with adjusted basic EPS of $5.78 per share [64] Shareholder Returns - The company plans to increase the annual base dividend from $0.44 per share in FY 2023 to $0.50 per share, subject to shareholder approval [3] - The company repurchased 45.4 million shares in 2023, reducing fully diluted shares outstanding by 33% since September 2020 [2] - ArcelorMittal repurchased 45.4 million shares during 12M 2023, including 26.3 million shares from the current buyback program [11] Production and Sales - Crude steel production for FY 2023 was 58.1 million tonnes, a slight decrease from 59.0 million tonnes in FY 2022 [4] - Product shipments of flat steel increased to 2.028 million tons in Q4 2023, compared to 1.767 million tons in Q4 2022 [57] - Sales in the NAFTA segment decreased by 7.7% to $2.9 billion in 4Q 2023, primarily due to a 9.1% decline in average steel selling prices [26] - Operating income in the Brazil segment fell by 58.6% to $171 million in 4Q 2023, driven by a negative price-cost effect and currency devaluation [29] - EBITDA in the Europe segment decreased by 28.9% to $336 million in 4Q 2023, mainly due to a negative price-cost effect [34] - The ACIS segment reported an operating loss of $2,689 million in 4Q 2023, significantly impacted by impairment charges and the disposal of Kazakhstan operations [39] - Iron ore production in the Mining segment was 6.2 million tons in 4Q 2023, a decrease from 6.7 million tons in 3Q 2023 [40] - AMNS India achieved record crude steel production of 1,964 kt in 4Q 2023, with a run-rate reaching 8.1 million tons [45] Capital Expenditures and Investments - FY 2023 capital expenditures totaled $4.6 billion, with $1.4 billion allocated to strategic growth projects [60] - Capex for 2024 is expected to remain within the $4.5-$5.0 billion range, with $1.4-$1.5 billion allocated for strategic growth [48] - The company plans to increase production capacity at the Serra Azul mine in Brazil to 4.5 million tonnes per year by 2H 2024 [59] - A renewable energy project in Andhra Pradesh, India, is expected to have a nominal capacity of 975 MW, with an investment of $70 million [59] - Decarbonization capital expenditures are projected to increase to between $0.3 billion and $0.4 billion, up from $0.2 billion in 2023 [60] Future Outlook - Strategic investments are expected to add approximately $1.8 billion to EBITDA growth by the end of 2026, with new projects commencing in 2024 [3] - The company anticipates a 3.0% to 4.0% growth in apparent steel consumption in 2024 compared to 2023 [47] - Apparent steel consumption in the US is expected to grow by +1.5% to +3.5% in 2024, while Europe anticipates growth of +2.0% to +4.0% [51] - In India, apparent steel consumption is projected to grow by +6.5% to +8.5%, indicating a strong market outlook [51] Safety and Sustainability - The Lost Time Injury Frequency rate for FY 2023 was 0.92, an increase from 0.70 in FY 2022, reflecting safety challenges [2] - The company plans to report a new segment for "Sustainable Solutions," focusing on high-growth, niche businesses supporting climate action [52] - ArcelorMittal's new XCarb® initiatives focus on achieving carbon neutrality in steel production through various green innovation projects [12] Debt and Financial Position - Total gross debt as of December 31, 2023, was $10.7 billion, with a net debt of $2.9 billion [63] - The net debt to last twelve months (LTM) EBITDA ratio improved to 0.4 as of December 31, 2023 [63] - The company's total assets as of December 31, 2023, were $93.917 billion, a slight decrease from $94.547 billion in 2022 [53] - The company’s cash and cash equivalents increased to $7.783 billion as of December 31, 2023, from $6.289 billion at the end of Q3 2023 [53] Impairments and Acquisitions - The company recorded an impairment charge of $1.4 billion for associates, joint ventures, and other investments in 12M 2023 [16] - The company completed the acquisition of Companhia Siderúrgica do Pecém in Brazil for an enterprise value of approximately $2.2 billion, enhancing operational and financial synergies [82] Reporting Changes - The company will report EBITDA including its share of joint ventures and associates' net income starting January 1, 2024, to better reflect growth exposures [49] - The company will implement a new segmentation from January 1, 2024, to better reflect its business profile and market exposures [15]

5 February 2024, 22:15 CET ArcelorMittal (‘the Company') today announces the publication of its fourth quarter and full year 2023 sell-side analysts' consensus figures. The consensus figures are based on analysts' estimates recorded on an external web-based tool provided and managed by an independent company, Visible Alpha. To arrive at the consensus figures below, Visible Alpha has aggregated the expectations of sell-side analysts who, to the best of our knowledge, cover ArcelorMittal on a continuous basis ...

Analysts on Wall Street project that ArcelorMittal (MT) will announce quarterly loss of $0.81 per share in its forthcoming report, representing a decline of 159.1% year over year. Revenues are projected to reach $14.58 billion, declining 13.7% from the same quarter last year.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Prior to a co ...

ArcelorMittal S.A. (MT) joined forces with Vestas, a key player in sustainable energy solutions, to introduce a low carbon-emissions steel solution that significantly reduces the lifetime carbon dioxide emissions associated with wind turbine tower production.This innovative steel is crafted using 100% steel scrap melted in an electric arc furnace powered entirely by wind energy at ArcelorMittal's Industeel Charleroi steel mill in Belgium. The resulting steel slabs are then transformed into heavy plates at A ...

ArcelorMittal S.A. (MT) is set to recommence operations at its Bosnia plant in the coming days, according to Reuters. The production had been halted in November due to a decline in steel demand across Europe. The company also cited factors such as reduced steel consumption since 2022, triggered by the war in Ukraine, escalating energy prices, output costs and inflation, as reported by Reuters. The ArcelorMittal Zenica plant will also resume receiving iron ore deliveries from its mines in northern Bosnia.Fol ...

ArcelorMittal (MT) rejected the Italian government’s proposal to acquire a controlling stake in Acciaierie d'Italia (“ADI”), a major steel plant in Europe formerly known as Ilva, according to a statement from the cabinet, as reported by Reuters yesterday.A confidential source informed Reuters that placing the financially struggling site under special administration might be the only viable option to prevent its closure. ArcelorMittal currently holds a 62% stake in ADI, while the remaining 38% is owned by th ...

ArcelorMittal S.A. (MT) has announced a collaboration with the Indian Institute of Technology ("IIT") Madras and is collaborating closely with IIT Madras' Hyperloop Technology teams – Avishkar Hyperloop, a student team and TuTr Hyperloop, a start-up incubated at IIT Madras – involved in the development of cost-effective Hyperloop technologies for passenger and cargo mobility at scale.ArcelorMittal and AM/NS India are supplying foundational steel materials, as well as engineering, design and project manageme ...