Welcome to our dedicated page for Arcelormittal news (Ticker: MT), a resource for investors and traders seeking the latest updates and insights on Arcelormittal stock.
ArcelorMittal reports news on its integrated steel and mining operations, including quarterly results, steel shipments, iron ore production, working capital, debt and capital allocation. Company updates also cover regional steel-market conditions, operating capacity, electric-arc furnace investments, and product demand from automotive, engineering, construction, machinery and packaging customers.
Recurring corporate news includes Annual General Meeting and Extraordinary General Meeting materials, dividend actions, share buybacks and share cancellations, director elections, statutory financial statements, Form 20-F annual reporting, sustainability reporting, safety transformation, decarbonisation initiatives, analyst-consensus publications and designated-person share-transaction notifications under EU market abuse rules.
ArcelorMittal has proposed a low-carbon emissions steel standard to support the decarbonisation of the global steel industry. This standard includes a dual scoring system that offers a life cycle assessment (LCA) value and a decarbonisation rating, aiming to create transparency in the steel market. The initiative is part of the company’s commitment to achieve net zero emissions by 2050 and will assist in defining low-carbon steel products.
On June 9, 2022, ArcelorMittal announced the completion of its $1 billion share buyback program, initially announced on May 5, 2022. By the market close on June 8, 2022, the company had repurchased 33,349,597 shares, totaling €942,577,580.32 (approximately $999.99 million), at an average share price of €28.26. This initiative aims to enhance shareholder value by returning capital to investors. The company's performance in 2021 included revenues of $76.6 billion and crude steel production of 69.1 million metric tonnes.
ArcelorMittal has initiated a search for innovative companies focused on breakthrough technologies to accelerate the decarbonisation of the steel industry. Applications are invited for investment from its XCarb™ Innovation Fund, which aims to invest up to US$100 million annually in transformative technologies. Finalists will pitch at an Accelerator Day, gaining not just financial support but also access to expert advice and resources. The fund has already committed US$180 million to projects enhancing decarbonisation with a focus on innovative and scalable solutions.
On May 23, 2022, ArcelorMittal announced that it received a shareholding notification from BlackRock Inc., indicating an increase in voting rights to 5.27% as of May 18, 2022. This change in shareholding exceeds the 5% voting rights threshold and complies with Luxembourg's transparency regulations. Detailed information can be found on the Luxembourg Stock Exchange's OAM database and the Company's website.
ArcelorMittal has announced that Stephanie Werner-Dietz will join as Executive Vice President and global head of human resources starting 1st September 2022. She succeeds Bart Wille, who is retiring after 37 years in HR management. Previously, Stephanie served as Chief People Officer at Nokia, responsible for HR and safety. Her background includes nearly 25 years of HR leadership across multiple countries. She will focus on refining the company's people strategy, emphasizing diversity, digitalization, and decarbonization.
ArcelorMittal announced that notifications of share transactions by Designated Persons are available on the Luxembourg Stock Exchange and its website. This information complies with the EU Market Abuse Regulation, ensuring transparency in stock trading activities by executives and directors. ArcelorMittal, the leading steel and mining company, reported revenues of $76.6 billion in 2021, with significant production metrics, including 69.1 million metric tonnes of crude steel and 50.9 million metric tonnes of iron ore. The company emphasizes its commitment to sustainability and innovative steel production processes.
ArcelorMittal announced the cancellation of 60 million treasury shares to maintain appropriate levels, impacting its total shares issued, now 877,809,772 compared to 937,809,772 prior to the cancellation. This move follows a US$1 billion share buyback initiated on 5 May 2022. The company aims to optimize its capital structure while adhering to transparency regulations as per Luxembourg law. ArcelorMittal, a leader in steel and mining, reported 2021 revenues of $76.6 billion and plans innovative, sustainable steel production.
ArcelorMittal has announced a second share buyback program worth US$1 billion, authorized at the annual general meeting on 4 May 2022. This adds to the previously announced US$1 billion buyback, totaling US$2 billion for 2022. The buyback aims to fulfill obligations under equity exchangeable debt, reduce share capital, and meet employee share program commitments. The program's completion is dependent on market conditions and is expected by the end of 2022. Notably, a significant shareholder has opted out of this program.
ArcelorMittal (MT) reported its 1Q 2022 results with an operating income of $4.4 billion and net income of $4.1 billion, reflecting resilience despite ongoing challenges from the Ukraine conflict. Free cash flow reached $1.5 billion, and EPS increased by 9% to $4.28. Although steel shipments declined 2.7% to 15.3 million tonnes, sales surged 5% year-over-year to $21.8 billion due to higher average steel prices. The company announced a $2 billion buyback program and ongoing investment in decarbonization projects, including renewable energy initiatives.
On May 4, 2022, ArcelorMittal held its Annual General Meeting (AGM) and Extraordinary General Meeting, with over 72% of voting rights represented. The meetings were conducted virtually due to Covid-19 restrictions. Shareholders approved key resolutions, including a dividend distribution of US$0.38 per share and the re-election of directors Mrs. Vanish Mittal Bhatia and Mr. Karel De Gucht for three years. A significant decision was made to cancel shares as part of a share buyback program, reducing the company’s issued share capital.