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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 6.32% 15.282 Delayed Quote.-20.76%
ARCELORMITTAL 5.93% 15.25 End-of-day quote.-20.81%
EURO / BRAZILIAN REAL (EUR/BRL) -0.89% 4.3214 Delayed Quote.-1.54%
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Financials ($)
Sales 2019 74 802 M
EBIT 2019 4 836 M
Net income 2019 3 372 M
Debt 2019 8 015 M
Yield 2019 1,67%
P/E ratio 2019 4,62
P/E ratio 2020 4,27
EV / Sales 2019 0,31x
EV / Sales 2020 0,30x
Capitalization 15 535 M
Chart ARCELORMITTAL
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Technical analysis trends ARCELORMITTAL
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 27,7 $
Spread / Average Target 81%
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-20.76%15 198
POSCO--.--%17 813
NOVOLIPETSK STEEL PAO--.--%15 873
NIPPON STEEL CORP-1.30%15 761
NUCOR-2.05%15 172
SEVERSTAL' PAO--.--%13 288