HJBC ArcelorMittal's (NYSE:MT) Q2 2024 performance showed resilience, with the company achieving an EBITDA of $1.5 billion despite the impact of lower steel prices across all divisions. Although management expects a further EBITDA decline in Q3 due to continued price pressures and weak demand, steel prices appear to have stabilized at a cyclical low. Indeed, signs of market correction, such as trade protections and potential production cuts in China, position ArcelorMittal well for a rebound. The compan ...

Deutsche Bank analyst Bastian Synagowitz upgraded Arcelor Mittal NY MT to Buy from Hold and raised the price target from $29 to $31.Per the analyst, 75% of Arcelor Mittal’s steel earnings are tied into attractive markets that trade at a premium to the company.Despite this, valuation multiples of 3-4x EV/EBITDA are (wrongly) held hostage by the European business (literally priced at zero), the analyst writes.Synagowitz writes, weaker developed markets and a slowing Chinese sector have led to a significant co ...

ArcelorMittal (MT) Brazil has signed contracts for developing two solar energy projects with a combined capacity of 465MW, which is equivalent to 14% of its current electricity requirements.The first project builds on ArcelorMittal Brazil's existing relationship with Casa dos Ventos, one of Brazil's largest developers and producers of renewable energy projects, with whom it signed a joint venture deal in April last year for the development of a 554MW wind power project that is scheduled to be commissioned b ...

StefanoZaccaria Dear readers/followers, It's time for another update on steel company ArcelorMittal (NYSE:MT). This is a business I've been covering for a number of years at this point, and have been investing in for some time as well. While I've already established a position, I believe the time has come for me to expand on that position even further. The reason? Valuation - the company has now dropped to levels where I would definitely consider the company not only cheap, but very cheap, and definitel ...

ArcelorMittal S.A. (MT) recently completed the acquisition of 65,243,206 shares, representing approximately 28.4% equity interest in Vallourec. This follows the signing of a Share Purchase Agreement on Mar 12, 2024, and the subsequent approval from relevant antitrust authorities and clearances under foreign investment regulations. The shares were acquired at €14.64 per share from funds managed by Apollo Global Management Inc for a total consideration of approximately €955 million (roughly $1,043 million), s ...

06 August 2024, 07:30 CET ArcelorMittal today announces that following the signature of a Share Purchase Agreement on 12 March 2024, and after the approval of relevant antitrust authorities and clearances under foreign investment regulations, it has completed the acquisition of 65,243,206 shares, representing c.28.41% 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, subject to successful completio ...

06 August 2024, 07:30 CET ArcelorMittal today announces that following the signature of a Share Purchase Agreement on 12 March 2024, and after the approval of relevant antitrust authorities and clearances under foreign investment regulations, it has completed the acquisition of 65,243,206 shares, representing c.28.41% 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, subject to successful completio ...

02 August 2024, 18:00 CET ArcelorMittal (the ‘Company') has today published its half-year report for the six-month period ended 30 June 2024. The report is available on http://corporate.arcelormittal.com/ under Investors > Financial reports > Half-year reports, and on the electronic database of the Luxembourg Stock Exchange (www.bourse.lu/). The report has also been filed on Form 6-K with the U.S. Securities and Exchange Commission (SEC) and is available on http://corporate.arcelormittal.com/ under Investor ...

02 August 2024, 18:00 CET ArcelorMittal (the ‘Company’) has today published its half-year report for the six-month period ended 30 June 2024. The report is available on http://corporate.arcelormittal.com/ under Investors > Financial reports > Half-year reports, and on the electronic database of the Luxembourg Stock Exchange (www.bourse.lu/). The report has also been filed on Form 6-K with the U.S. Securities and Exchange Commission (SEC) and is available on http://corporate.arcelormittal.com/ under Investor ...

ArcelorMittal S.A. (MT) recorded a net income of $504 million or 63 cents per share in second-quarter 2024 compared with $1,860 million or $2.21 per share in the year-ago quarter. The bottom line missed the Zacks Consensus Estimate of $1.12 per share.Total sales fell around 13% year over year to $16,249 million in the quarter. The figure also missed the consensus estimate of $16,911.4 million.Total steel shipments fell 2% year over year to 13.9 million metric tons in the reported quarter. The figure was abo ...