Arcelormittal Stock Price, News & Analysis

On March 8, 2023, ArcelorMittal filed its Annual Report 2022 on Form 20-F with the U.S. Securities and Exchange Commission (SEC). The report highlights revenues of $79.8 billion, crude steel production of 59 million metric tonnes, and iron ore production of 50.9 million metric tonnes for 2022. Shareholders can request a hard copy of the report, which includes audited financial statements, free of charge. ArcelorMittal operates in 60 countries and emphasizes producing environmentally friendly steel for electric vehicles and renewable energy. The report is available online for public access.

ArcelorMittal (MT) reported its financial results for FY 2022, showing a significant decline in operating income to $10.3 billion from $17.0 billion in FY 2021, alongside an adjusted net income of $10.6 billion compared to $14.9 billion in the prior year. The company generated $6.4 billion in free cash flow and maintained a low net debt of $2.2 billion. Despite a 11.2% drop in steel shipments to 55.9 million metric tonnes, revenues rose to $79.8 billion due to increased average steel prices. Looking ahead, ArcelorMittal expects global steel consumption to grow by 2-3% in 2023 and aims for a 5% increase in its shipments. Shareholders can anticipate a proposed increase in the annual base dividend to $0.44 per share.

On January 27, 2023, ArcelorMittal disclosed its fourth quarter 2022 sell-side analysts’ consensus figures. Analysts from a group of ten brokers forecast an EBITDA of $1,257 million, a net income of $358 million, and earnings per share of $0.38. These estimates were compiled via an independent tool managed by Visible Alpha, which has no affiliation or responsibility for the accuracy of the data. The company reiterated that it does not influence the forecasts made by third-party analysts. Furthermore, ArcelorMittal continues to provide updated information on its share buyback operations on its website.

ArcelorMittal announces a significant investment of $36 million in Boston Metal, marking the largest initial investment through its XCarb® Innovation Fund. This investment leads a $120 million Series C funding round for Boston Metal, which focuses on revolutionizing the steel industry with its patented Molten Oxide Electrolysis (MOE) technology. This innovative process aims to produce CO2-free molten steel efficiently. ArcelorMittal’s XCarb Fund has now backed six companies targeting decarbonization, with a total commitment of $100 million to Breakthrough Energy’s Catalyst program.

Boston Metal has closed the first round of its Series C fundraising, securing $120 million to enhance green steel production and support the construction of its commercial plant in Brazil. Notable investors include ArcelorMittal (NYSE: MT), alongside Microsoft's Climate Innovation Fund and SiteGround Capital. The funds will aid the expansion of the company's Molten Oxide Electrolysis (MOE) technology, aimed at producing zero-emission steel and high-value metals. This technology could significantly cut carbon emissions in steel production, an industry responsible for about 10% of global emissions, aligning with the industry's goal to achieve net zero by 2050.

ArcelorMittal has inaugurated a €200 million carbon capture and utilization (CCU) plant named 'Steelanol' in Ghent, Belgium, marking a first in the European steel industry. This plant will produce 80 million liters of advanced ethanol, significantly reducing carbon emissions by 125,000 tonnes annually. The Steelanol project is part of a broader strategy to achieve a 35% reduction in carbon intensity across European operations by 2030. Collaborating with key partners, ArcelorMittal aims to lead decarbonization efforts in the steel sector and contribute to a circular economy.

ArcelorMittal has announced its acquisition of Riwald Recycling, a leading ferrous scrap metal recycling company based in the Netherlands. The deal, signed on December 5, 2022, is pending regulatory approval and is expected to close by the end of January 2023. Riwald, established in 1989, processed over 330,000 tonnes of scrap metal in 2021 and operates certified recycling yards with direct port access. This acquisition marks ArcelorMittal's third metal recycling purchase in 2022, reinforcing its commitment to sustainability and reducing carbon intensity in steel production by 35% by 2030.

On December 2, 2022, ArcelorMittal announced its financial calendar for 2023. Key earnings results announcements are scheduled for: February 9, 2023 (Q4 and full year 2022), May 4, 2023 (Q1 2023), July 27, 2023 (Q2 and half year 2023), and November 9, 2023 (Q3 2023). The Annual General Meeting of Shareholders will be held on May 2, 2023. In 2021, ArcelorMittal reported revenues of $76.6 billion and crude steel production of 69.1 million metric tonnes.

On November 21, 2022, ArcelorMittal announced a successful pricing of a $1.2 billion offering of 6.550% notes due 2027 and a $1.0 billion offering of 6.800% notes due 2032, totaling approximately $2.2 billion. The proceeds will be allocated for general corporate purposes. Following the offering, commitments under a $2.2 billion bridge facility agreement will be cancelled by an amount equal to the offering excess beyond $400 million. The closing date for the offering is set for November 29, 2022, subject to customary conditions.