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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  ArcelorMittal    MT   LU1598757687

ARCELORMITTAL

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ArcelorMittal 1Q Profit Dropped Amid Tough Environment

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05/09/2019 | 01:28am EDT

By Nathan Allen

ArcelorMittal (MT.AE) said Thursday that its first-quarter earnings slumped as global steel prices continue to fall.

First-quarter net profit dropped to $414 million from $1.19 billion a year earlier, while sales were almost flat at $19.19 billion, the company said.

Earnings before interest, taxes, depreciation and amortization fell to $1.65 billion from $2.51 billion, missing a consensus estimate of $1.68 billion provided by the company.

"Profitability has been impacted by lower steel pricing due to weaker economic activity and continued global overcapacity, as well as rising raw material costs as a result of supply-side developments in Brazil," Chief Executive Lakshmi Mittal said.

ArcelorMittal recently said it plans to temporarily cut production in Europe in an effort to mitigate the effects of rising imports, and high energy and carbon costs.

The company reaffirmed its commitment to maintaining an investment-grade credit rating and adjusted its target to reduce net debt to below $7 billion from a previous target of below $6 billion to reflect the impact of the IFRS accounting standards.

Write to Nathan Allen at nathan.allen@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
ARCELORMITTAL 0.97% 14.844 Delayed Quote.-18.17%
ARCELORMITTAL 0.95% 14.854 End-of-day quote.-18.29%
EURO / BRAZILIAN REAL (EUR/BRL) 0.10% 4.205 Delayed Quote.-5.66%
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Financials (USD)
Sales 2019 74 188 M
EBIT 2019 3 596 M
Net income 2019 2 034 M
Debt 2019 9 832 M
Yield 2019 1,44%
P/E ratio 2019 9,12x
P/E ratio 2020 5,37x
EV / Sales2019 0,36x
EV / Sales2020 0,33x
Capitalization 16 816 M
Chart ARCELORMITTAL
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Technical analysis trends ARCELORMITTAL
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 22,96  $
Last Close Price 16,66  $
Spread / Highest target 102%
Spread / Average Target 37,8%
Spread / Lowest Target -59,7%
EPS Revisions
Managers
NameTitle
Lakshmi Niwas Mittal Chairman & Chief Executive Officer
Aditya Mittal President & Chief Financial Officer
Brian E. Aranha CTO, Executive VP, Head-Research & Development
Michel Wurth Non-Independent Non-Executive Director
Vanisha Mittal Bhatia Non-Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ARCELORMITTAL-18.17%16 816
NUCOR9.46%17 192
POSCO--.--%16 140
NIPPON STEEL CORP-3.81%15 227
NOVOLIPETSK STEEL PAO7.60%14 755
NOVOLIPETSK STEEL PAO--.--%14 755