Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Netherlands
  4. Euronext Amsterdam
  5. ArcelorMittal
  6. News
  7. Summary
    MT   LU1598757687

ARCELORMITTAL

(MT)
  Report
Real-time Euronext Amsterdam  -  04:33:09 2023-02-09 am EST
27.38 EUR   +0.55%
03:19aArcelorMittal South Africa Posts Lower FY22 Net Profit
MT
01:46aArcelorMittal Forecasts Positive Free Cash Flow Generation in FY23
MT
01:45aArcelorMittal S.Africa's profit falls 62% on weak steel prices, demand
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

ArcelorMittal 3Q Profit Missed Views as Shipments Fell, Energy Costs Hit

11/10/2022 | 01:57am EST

By Pierre Bertrand


ArcelorMittal on Thursday reported third-quarter net income that missed expectations as market conditions deteriorated, marked by lower shipments and higher energy costs.

The Luxembourg-based steelmaker said net income fell to $993 million from $4.62 billion for the prior-year period, on sales that declined to $18.98 billion from $20.23 billion in the third quarter of 2021.

Earnings before interest, taxes, depreciation and amortization fell to $2.66 billion from $6.06 billion a year earlier.

The result missed analysts' expectations of net income at $1.35 billion but beat expectations for Ebitda of $2.34 billion, according to consensus expectations provided by the company.

ArcelorMittal said its result reflected lower average steel selling prices, lower volumes, higher energy costs and that the economic outlook for the industry in the short term remains uncertain.

Quarterly steel shipments were 13.6 million metric tons, down 5.6% from the second quarter of the 2022, largely due to weaker demand in Europe.

The company said it has adapted its capacity for the fourth quarter to mitigate the effects of weak demand environment and higher energy costs in Europe, including implementing reduced working hours.


Write to Pierre Bertrand at pierre.bertrand@wsj.com


(END) Dow Jones Newswires

11-10-22 0156ET

All news about ARCELORMITTAL
03:19aArcelorMittal South Africa Posts Lower FY22 Net Profit
MT
01:46aArcelorMittal Forecasts Positive Free Cash Flow Generation in FY23
MT
01:45aArcelorMittal S.Africa's profit falls 62% on weak steel prices, demand
RE
01:44aArcelorMittal 4Q Net Profit Missed Forecasts
DJ
01:13aArcelormittal : 4Q'22 Earnings Release
PU
01:13aArcelormittal : 4Q'22 Analyst Slides
PU
01:12aArcelorMittal expects to increase steel shipments by 5% in 2023
RE
01:04aArcelorMittal reports fourth quarter 2022 results
GL
01:01aArcelorMittal reports fourth quarter 2022 results
AQ
01/31ArcelorMittal to Partially Resume Operations at Blast Furnace in Spain
MT
More news
Analyst Recommendations on ARCELORMITTAL
More recommendations
Financials (USD)
Sales 2022 77 585 M - -
Net income 2022 9 713 M - -
Net Debt 2022 3 633 M - -
P/E ratio 2022 2,74x
Yield 2022 1,52%
Capitalization 23 838 M 23 838 M -
EV / Sales 2022 0,35x
EV / Sales 2023 0,43x
Nbr of Employees 158 000
Free-Float 55,0%
Chart ARCELORMITTAL
Duration : Period :
ArcelorMittal Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ARCELORMITTAL
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 29,21 $
Average target price 37,49 $
Spread / Average Target 28,3%
EPS Revisions
Managers and Directors
Aditya Mittal President, Chief Financial Officer & Director
Genuino M. Christino Chief Financial Officer & Executive Vice President
Lakshmi Niwas Mittal Executive Chairman
Pinakin Chaubal Chief Technology Officer
Henk Scheffer Secretary & Group Compliance Officer
Sector and Competitors
1st jan.Capi. (M$)
ARCELORMITTAL10.80%23 838
NUCOR CORPORATION26.17%42 076
STEEL DYNAMICS, INC,26.95%21 776
NIPPON STEEL CORPORATION14.99%18 468
POSCO HOLDINGS INC.7.78%17 911
TATA STEEL LIMITED-1.02%16 481