Arcelormittal Stock Price, News & Analysis

On March 30, 2023, ArcelorMittal signed a memorandum of understanding with the Japan Bank for International Cooperation to enhance their collaboration in steelmaking and decarbonization efforts. This MOU builds on JBIC’s previous financing commitments for ArcelorMittal’s joint ventures with Nippon Steel in India and the US. The partnership aims to explore business opportunities with Japanese firms, particularly in low-carbon steelmaking technologies. In 2022, ArcelorMittal reported revenues of $79.8 billion and crude steel production of 59 million metric tonnes.

ArcelorMittal has announced that notifications of share transactions by Designated Persons, including Directors and Executive Officers, are now accessible via the Luxembourg Stock Exchange’s electronic database OAM and on its official website. This update aligns with Article 19(3) of Regulation (EU) No 596/2014 concerning market abuse. Interested parties can view the details of these transactions by visiting the specified websites.

ArcelorMittal has been announced as an Official Partner for the Paris 2024 Olympic and Paralympic Games. The company will manufacture key symbols of the Games, including the Olympic and Paralympic torches and cauldrons, as well as large rings and agitos for installation in Paris. These items will be crafted using steel with a low CO2 footprint, utilizing recycled materials and low carbon energy. This partnership aligns with the event's environmental goals, highlighting ArcelorMittal's commitment to sustainability and innovation in steelmaking.

ArcelorMittal has completed the acquisition of Companhia Siderúrgica do Pecém (CSP) in Brazil for approximately $2.2 billion, following necessary regulatory approvals. CSP is a state-of-the-art facility with a capacity of three million tonnes, strategically located near the Port of Pecém. The acquisition is expected to deliver significant operational and financial synergies, alongside prospects for future expansions in steelmaking and green hydrogen initiatives. CEO Aditya Mittal emphasized the strategic importance of this acquisition, highlighting potential growth in the North and South American markets and pathways for decarbonization.

ArcelorMittal has released its annual report for 2022, detailing significant financial figures. The company reported revenues of $79.8 billion and produced 59 million metric tonnes of crude steel, alongside 50.9 million metric tonnes of iron ore. The report emphasizes ArcelorMittal's commitment to advancing sustainable steel production and supporting industries such as electric vehicles and renewable energy. This information is now available on the Luxembourg Stock Exchange and the company's corporate website.

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.