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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  ArcelorMittal    MT   LU1598757687

ARCELORMITTAL (MT)
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ArcelorMittal : 3Q Profit Buoyed By Favorable Market

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11/10/2017 | 07:46am CEST
   By Nathan Allen 
 

ArcelorMittal (MT.AE) said on Friday that net profit rose sharply in the third quarter, due in part to favorable market conditions.

Net profit at the Netherlands-listed steelmaker rose to $1.21 billion, almost doubling the year-earlier result of $680 million and comfortably exceeding an analyst consensus from FactSet of $770 million.

Sales climbed more than 21% to $17.08 billion from $14.52 billion a year earlier.

Steel shipments were up 6.9% at 21.7 million metric tons, the company said, while iron ore shipments increased 8.1% to 15 million metric tons.

The company also said it booked a foreign exchange gain of $132 million, compared with a $223 million loss a year earlier. Income tax expenses dropped $75 million on the year.

Chief Executive Lakshmi Mittal said he saw a positive outlook for 2018 but warned of global overcapacity in the sector.

ArcelorMittal also said it would cooperate fully with a recently announced European Commission antitrust investigation into its proposed takeover of Ilva's Italian steelworks.

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

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Financials ($)
Sales 2018 78 113 M
EBIT 2018 7 741 M
Net income 2018 5 664 M
Debt 2018 7 699 M
Yield 2018 1,15%
P/E ratio 2018 5,21
P/E ratio 2019 5,74
EV / Sales 2018 0,47x
EV / Sales 2019 0,44x
Capitalization 29 060 M
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Technical analysis trends ARCELORMITTAL
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 40,4 $
Spread / Average Target 43%
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-9.50%29 060
POSCO--.--%20 324
NIPPON STEEL & SUMITOMO METAL CORP-25.25%18 610
NUCOR-4.36%18 443
NOVOLIPETSK STEEL PAO--.--%15 122
THYSSENKRUPP-17.47%14 381