Arcelormittal Stock Price, News & Analysis

ArcelorMittal has released its 2022 integrated annual review, showcasing its commitment to transparent reporting. The review outlines the company’s performance, strategic priorities, and future objectives amidst a complex global backdrop. Key highlights include a focus on safety, energy efficiency, and sustainability practices in steel production. Notable updates include new climate scenario analyses aligning with the Task Force on Climate-related Financial Disclosures (TCFD) and proactive safety indicators. The company achieved an EBITDA of $14.2 billion and reduced net debt to $2.2 billion. CEO Aditya Mittal emphasized the importance of transitioning to low-carbon steel and maintaining safety standards as the company aims to lead in decarbonization efforts.

ArcelorMittal has released its first quarter 2023 sell-side analysts’ consensus figures. The figures, based on estimates from approximately 15 brokers, include an estimated EBITDA of $1,638 million, net income of $694 million, and earnings per share of $0.82. A total of 11 brokers participated in compiling these estimates through Visible Alpha, an independent web-based tool. ArcelorMittal clarifies that it does not influence these estimates and accepts no responsibility for their accuracy. Additionally, the company has provided updates on its share buyback program on its website, reflecting ongoing efforts to manage shareholder returns. For 2022, ArcelorMittal reported revenues of $79.8 billion with a crude steel production of 59 million metric tonnes.

ArcelorMittal Brazil is partnering with Casa dos Ventos to develop a 554 MW wind power project in Bahia, Brazil, holding a 55% stake in a joint venture. Approved by the Brazilian antitrust authority, the project is expected to cost approximately $0.8 billion and supply 38% of ArcelorMittal Brazil's electricity needs by 2030. The company plans to invest about $0.15 billion into this initiative. This joint venture will enhance energy security, reduce costs, and contribute to ArcelorMittal's decarbonization goals. Following recent expansions in Brazil and other international partnerships, the company aims to bolster its renewable energy capacity while preparing for future energy demands.

On April 3, 2023, ArcelorMittal announced the completion of its buyback program, repurchasing 60,431,380 shares that it initially announced on July 29, 2022. This initiative was authorized during the annual general meeting held on May 4, 2022. By the market close on March 31, 2023, the company successfully executed the repurchase. This move reflects ArcelorMittal's commitment to enhancing shareholder value and confidence in its financial stability. The company reported revenues of $79.8 billion in 2022 and aims to innovate in steel production for a more sustainable future.

ArcelorMittal has released its statutory financial statements for the year ending December 31, 2022, filing them with the Luxembourg Stock Exchange. In 2022, the company reported revenues of $79.8 billion, with crude steel production totaling 59 million metric tonnes and iron ore production at 50.9 million metric tonnes. The financial statements are accessible through the Luxembourg Stock Exchange's electronic database and on ArcelorMittal's website.

As the world's leading steel company, ArcelorMittal operates in 60 countries, aiming to produce innovative and sustainable steels that benefit both people and the planet.

ArcelorMittal has announced its upcoming Annual General Meeting and Extraordinary General Meeting for shareholders on 2 May 2023 at its office in Luxembourg. Shareholders eligible to vote must be on the record as of 18 April 2023. The company will make detailed documents, including the Annual Report 2022 and voting forms, available on its website. In 2022, ArcelorMittal reported revenues of $79.8 billion and produced 59 million metric tonnes of crude steel. Investors seeking information can contact the company's Investor Relations.