ArcelorMittal(MT) ZACKS·2024-12-13 12:25Collaboration and Innovation - ArcelorMittal and LanzaTech Global have achieved a production milestone at the Steelanol facility in Ghent, enabling barge shipping of ethanol [1] - The Steelanol facility converts carbon-rich industrial emissions into fuel-grade ethanol using LanzaTech's carbon recycling technology, marking a first in the European steel sector [2] - The facility produces 80 million liters of advanced ethanol annually, accounting for roughly half of Belgium's current consumption [4] Sustainability and Decarbonization - ArcelorMittal is making significant progress in lowering CO2 emissions through initiatives like Steelanol and Torero, which transforms waste wood into biocoal [3] - The Steelanol facility aims to reduce carbon emissions by 125,000 tons per year, supporting the EU's 2030 Climate Target Plan to cut greenhouse gas emissions by 55% by 2030 [4] - The company is optimizing its decarbonization strategy to maintain competitiveness and profitability while addressing climate concerns [6] Financial and Strategic Outlook - ArcelorMittal anticipates 2024 capital expenditure to remain within the previous guidance of $4.5 billion to $5 billion [6] - Strategic expansion projects are expected to boost EBITDA and investable cash flow in the future [6] - The company's global asset portfolio positions it to capitalize on medium/long-term growth in steel demand [6] Market Performance and Industry Comparison - ArcelorMittal's shares have declined by 6.9% over the past year, outperforming the industry's 17.8% decline [5] - The company currently holds a Zacks Rank 3 (Hold) [7] Industry Peers and Rankings - Carpenter Technology Corporation (CRS) holds a Zacks Rank 1 (Strong Buy) and has seen its shares soar 161.6% in the past year [9] - DuPont de Nemours, Inc. (DD) has a Zacks Rank 2 (Buy) and its shares have rallied 13.4% over the past year [10] - CF Industries Inc. (CF) also holds a Zacks Rank 1 and has rallied around 18.2% in the past year [11]