StefanoZaccaria Dear readers/followers, It's time for another update on steel company ArcelorMittal (NYSE:MT). This is a business I've been covering for a number of years at this point, and have been investing in for some time as well. While I've already established a position, I believe the time has come for me to expand on that position even further. The reason? Valuation - the company has now dropped to levels where I would definitely consider the company not only cheap, but very cheap, and definitel ...

ArcelorMittal S.A. (MT) recently completed the acquisition of 65,243,206 shares, representing approximately 28.4% equity interest in Vallourec. This follows the signing of a Share Purchase Agreement on Mar 12, 2024, and the subsequent approval from relevant antitrust authorities and clearances under foreign investment regulations. The shares were acquired at €14.64 per share from funds managed by Apollo Global Management Inc for a total consideration of approximately €955 million (roughly $1,043 million), s ...

06 August 2024, 07:30 CET ArcelorMittal today announces that following the signature of a Share Purchase Agreement on 12 March 2024, and after the approval of relevant antitrust authorities and clearances under foreign investment regulations, it has completed the acquisition of 65,243,206 shares, representing c.28.41% equity interest in Vallourec, for €14.64 per share from funds managed by Apollo Global Management Inc., for a total consideration of approximately €955 million, subject to successful completio ...

文章核心观点 - 公司完成收购Vallourec约28.41%的股权,总交易金额约9.55亿欧元 [1][2][13] - 公司将委任3名高管进入Vallourec董事会 [2] - 公司未来6个月内不会对Vallourec剩余股份发起收购要约 [3] - 公司认为Vallourec在高质量管材市场具有优势地位,有望从新兴清洁能源市场获益 [4] - 公司近年在巴西和美国的收购表现良好,有多个有机增长项目即将完成,将进一步提升公司业务实力 [5] 公司概况 - 公司是全球领先的综合钢铁和矿业公司,在60个国家有业务,主要钢铁生产基地分布在15个国家 [6] - 公司是欧洲最大的钢铁生产商,在美洲也位居前列,在印度也有不断增长的业务 [6] - 2023年公司营收达683亿美元,粗钢产量5810万吨,铁矿石产量4200万吨 [7] - 公司的目标是生产更智能、更环保的钢材,支持社会向可再生能源转型 [8] 投资者关系 - 公司股票在纽约、阿姆斯特丹、巴黎、卢森堡等多个证券交易所上市 [9] - 投资者可通过公司网站和投资者关系团队获取更多信息 [9][10][11][12]

02 August 2024, 18:00 CET ArcelorMittal (the ‘Company') has today published its half-year report for the six-month period ended 30 June 2024. The report is available on http://corporate.arcelormittal.com/ under Investors > Financial reports > Half-year reports, and on the electronic database of the Luxembourg Stock Exchange (www.bourse.lu/). The report has also been filed on Form 6-K with the U.S. Securities and Exchange Commission (SEC) and is available on http://corporate.arcelormittal.com/ under Investor ...

02 August 2024, 18:00 CET ArcelorMittal (the ‘Company’) has today published its half-year report for the six-month period ended 30 June 2024. The report is available on http://corporate.arcelormittal.com/ under Investors > Financial reports > Half-year reports, and on the electronic database of the Luxembourg Stock Exchange (www.bourse.lu/). The report has also been filed on Form 6-K with the U.S. Securities and Exchange Commission (SEC) and is available on http://corporate.arcelormittal.com/ under Investor ...

ArcelorMittal S.A. (MT) recorded a net income of $504 million or 63 cents per share in second-quarter 2024 compared with $1,860 million or $2.21 per share in the year-ago quarter. The bottom line missed the Zacks Consensus Estimate of $1.12 per share.Total sales fell around 13% year over year to $16,249 million in the quarter. The figure also missed the consensus estimate of $16,911.4 million.Total steel shipments fell 2% year over year to 13.9 million metric tons in the reported quarter. The figure was abo ...

财务表现 - 公司在2Q 2024的EBITDA为18.62亿美元，EBITDA/吨为134美元/吨[3] - 公司在1H 2024的销售额为325.31亿美元，较1H 2023下降12.3%[33] - 公司在1H 2024的营业利润为21.18亿美元，较1H 2023下降32.1%[34] - 公司在1H 2024的净利润为14.42亿美元，较1H 2023下降51.2%[36] - 2024年第二季度销售额为162亿美元，与2024年第一季度的163亿美元基本持平[38] - 2024年第二季度营业收入为10亿美元，较2024年第一季度下降2.4%,主要受到墨西哥非法封锁的影响,但钢铁出货量增加3.2%抵消了部分影响[39] - 2024年第二季度EBITDA为18.62亿美元,较2024年第一季度下降4.8%,主要受到北美(受墨西哥非法封锁影响)、印度和合资企业(印度计划检修)以及矿业(铁矿石价格下降)业务的拖累,但欧洲业务由于成本下降有所改善[40] - 2024年第二季度净利润为5.04亿美元,较2024年第一季度的9.38亿美元有所下降,主要由于对Vallourec股票的非现金市值调整[41] - 2024年第二季度自由现金流为0.1亿美元,受到10亿美元资本支出(包括战略性增长项目)的影响,但部分被营运资金释放0.1亿美元所抵消[42] - 公司2024年第二季度自由现金流为81百万美元[117] - 公司2024年上半年资本支出为22.21亿美元[89] 业务表现 - 公司在2Q 2024的粗钢产量为1470万吨，与2Q 2023持平[14] - 公司在2Q 2024的钢材出货量为1390万吨，较1Q 2024增加3.2%[3] - 公司在1H 2024的铁矿石产量为1970万吨，较1H 2023下降7.5%[14] - 公司在1H 2024的铁矿石出货量(AMMC和利比里亚)为1250万吨，较1H 2023下降10.7%[14] - 2024年第二季度北美销售额下降5.5%至31.62亿美元,主要受墨西哥非法封锁影响,钢铁出货量下降11.7%[45][46] - 2024年第二季度欧洲销售额基本持平,营业收入和EBITDA分别增长7.7%和34.8%,主要受益于成本下降抵消了钢价下降的影响[54][55] - 2024年第二季度印度和合资企业业务EBITDA下降,主要受AMNS India和Calvert业务的拖累[59][60][63] - 2024年第二季度销售额为6.41亿美元，同比下降12.1%，主要由于铁矿石价格下降9.5%[71] - 2024年第二季度铁矿石产量受到加拿大港卡特尔地区野火影响而下降[72] - 2024年第二季度营业利润为1.5亿美元，同比下降39.2%，主要由于铁矿石价格下降和加拿大铁矿石出货量下降[73] - 2024年第二季度EBITDA为2.16亿美元，同比下降30.4%[73] 可持续发展 - 公司在2Q 2024的人员及承包商的LTIF率为0.57，较1Q 2024的0.61有所改善[23] - 公司推出了XCarb®绿色钢铁证书，用于认证其在欧洲实施的减碳项目所实现的二氧化碳减排量[123] - 1H 2024包括0.1亿美元的减碳资本支出和0.7亿美元的战略性增长资本支出[118] 战略发展 - 公司正在进行多个战略性增长项目,包括巴西Vega Do Sul扩产、印度安得拉邦1GW可再生能源项目、巴西Serra Azul矿山设施升级等[91][92][93][94][95][96][97][98][99][100][101][102][103] - 可持续解决方案业务正朝着未来5年内实现EBITDA翻番的目标取得进展,通过内生动力和有针对性的并购实现不同业务的不同增长速度[122] - 2024年资本支出预计在45-50亿美元区间,其中战略性增长资本支出为14-15亿美元[78] 资本结构 - 公司在1H 2024的加权平均普通股数为8.02亿股,较1H 2023的8.51亿股下降5.8%[14] - 公司2024年6月30日的总债务为111亿美元,平均债务期限为6.9年[105][106] - 公司2024年6月30日的净债务为52.24亿美元,净债务/EBITDA比率为0.7[107][108] - 公司在2024年1H回购了3470万股,目前已完成6090万股的8500万股回购计划[120] - 2024年1H经营活动产生的现金流为56亿美元，维护性资本支出为30亿美元，战略性资本支出为15亿美元，减碳支出为3亿美元[126] 市场展望 - 2024年全球除中国的表观钢材消费量预计增长2.5%至3.0%[78] - 2024年美国钢材表观消费量预计增长1.0%至3.0%，欧洲预计增长0.0%至2.0%[78] - 2024年3月31日Vallourec股价上涨至17.20欧元，相比3月12日签署的14.64欧元的股价协议产生了1.81亿美元的非现金市值收益，2024年2季度股价下降至14.76欧元产生1.73亿美元的非现金市值损失[119]

For the quarter ended June 2024, ArcelorMittal (MT) reported revenue of $16.25 billion, down 12.7% over the same period last year. EPS came in at $0.63, compared to $2.20 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $16.91 billion, representing a surprise of -3.92%. The company delivered an EPS surprise of -43.75%, with the consensus EPS estimate being $1.12.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stree ...

Luxembourg, August 1, 2024 - ArcelorMittal (referred to as “ArcelorMittal” or the “Company” or the "Group") (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world’s leading integrated steel and mining company, today announced results1 for the three-month and six-month periods ended June 30, 2024. 2Q 2024 key highlights: Health and safety focus: Protecting employee health and safety remains the overarching priority of the Company; the Company-wide audit of safety by dss+ remains on track for ...