Arcelormittal Stock Price, News & Analysis

ArcelorMittal announced shareholding notifications from Société Générale SA on August 6, 2021, concerning their voting rights. Société Générale SA reached a shareholding threshold of 5.40% on August 3, and 4.98% on August 4. As the notifications indicate that Société Générale SA is now below the 5% threshold, no adjustments to the company's shareholding disclosure are necessary. The notifications comply with Luxembourg's transparency regulations.

ArcelorMittal continues to focus on sustainable steel production and had revenues of $53.3 billion in 2020.

ArcelorMittal has announced the cancellation of 70 million treasury shares as part of a strategy approved by shareholders on June 8, 2021. This action aligns with the previously announced US$ 2.2 billion share buyback program initiated on July 29, 2021. Post-cancellation, the company will have 1,032,809,772 shares outstanding, reducing the previous count of 1,102,809,772 shares.

This move aims to maintain appropriate treasury share levels, contributing positively to shareholder value.

ArcelorMittal has published its half-year report for the period ending June 30, 2021. The report is available on the company's corporate website and has been filed with the U.S. SEC on Form 6-K. In 2020, ArcelorMittal reported revenues of $53.3 billion, with crude steel production reaching 71.5 million metric tonnes. The company emphasizes its commitment to sustainable steel production, aiming for cleaner processes to support future infrastructure, including electric vehicles and renewable energy.

ArcelorMittal plans a CAD$1.765 billion investment in decarbonization technologies at its Dofasco plant in Hamilton, Ontario, aiming to cut CO₂ emissions by 60% within seven years. This initiative involves transitioning to Direct Reduced Iron (DRI) and Electric Arc Furnace (EAF) production, significantly lowering carbon output and creating around 2,500 jobs during construction. The project is contingent on additional support from the Government of Ontario, building on CAD$400 million already pledged by the federal government. This investment is part of ArcelorMittal's global target to reduce emissions by 25% by 2030.

ArcelorMittal announces a new $2.2 billion share buyback program following the annual general meeting authorization on 8 June 2021. The program aims to return surplus cash flow from 2021 and fulfill obligations under debt exchangeable into equity. Expected to commence on 2 August 2021 and complete by 31 December 2021, the program reflects confidence in the company's financial health. The initiative supports shareholder value by reducing share capital and is part of a broader strategy to return value to shareholders.

ArcelorMittal (MT) reported impressive financial results for Q2 2021, showcasing strong recovery from 2020 disruptions. Key highlights include:

• Operating income surged to $4.4 billion, compared to $2.6 billion in Q1 2021.
• Net income reached $4.0 billion in Q2, up from $2.3 billion in Q1 2021.
• EBITDA was $5.1 billion, marking the best quarter since 2008.
• Steel shipments increased 2.4% to 16.1Mt.
• Debt decreased to $9.2 billion, down from $11.4 billion in Q1 2021.

Additionally, the company announced a new $2.2 billion share buyback program.

ArcelorMittal has announced the completion of its second investment in the XCarb™ innovation fund, leading a $200 million Series D financing round for Form Energy with a $25 million equity investment. Form Energy specializes in low-cost energy storage technology, unveiling a new iron-air battery that is significantly cheaper and offers multi-day reliability. The investment includes a joint development agreement for ArcelorMittal to supply iron for the battery technology. The XCarb™ fund aims to invest up to $100 million annually in technologies for carbon-neutral steelmaking.