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    MT   LU1598757687

ARCELORMITTAL

(MT)
  Report
Real-time Quote. Real-time Euronext Amsterdam - 01/21 11:38:27 am
28.84 EUR   -7.33%
01/21European ADRs Move Lower in Friday Trading
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01/20ARCELORMITTAL : BlackRock Inc. shareholding notification - Form 6-K
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01/20European ADRs Move Lower in Thursday Trading
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ArcelorMittal Swung to 3Q Net Profit as Sales Gained

11/11/2021 | 02:06am EST

By Yongchang Chin

ArcelorMittal swung to a third-quarter profit as sales rose, the company said Thursday.

The steel-and-mining company said sales increased to $20.23 billion from $13.27 billion a year earlier. They also beat the second-quarter figure of $19.34 billion because of higher realized average steel selling prices and higher mining revenue, after the resolution of a labor strike action allowed for higher shipment volumes, the company said.

The company posted a quarterly net profit of $4.62 billion, compared with a net loss of $261 million. Earnings before interest, taxes, depreciation and amortization--one of the company's preferred metrics--rose to $6.06 billion from $901 million.

The Luxembourg-based company said it expects global apparent steel consumption, excluding China, to grow within its earlier 12%-13% guidance this year.

However, ArcelorMittal said weakening demand in China, because of its poor real-estate sector performance, is leading the company to forecast a slight contraction in Chinese apparent steel demand in 2021.

Lower Chinese domestic steel production should limit any impact on the ex-China steel market because the country is expected to reduce net exports in the second half of the year compared with the first half, ArcelorMittal said.

Write to Yongchang Chin at yongchang.chin@wsj.com

(END) Dow Jones Newswires

11-11-21 0206ET

All news about ARCELORMITTAL
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Analyst Recommendations on ARCELORMITTAL
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Financials (USD)
Sales 2021 76 258 M - -
Net income 2021 14 149 M - -
Net Debt 2021 2 677 M - -
P/E ratio 2021 2,48x
Yield 2021 1,21%
Capitalization 29 807 M 29 812 M -
EV / Sales 2021 0,43x
EV / Sales 2022 0,39x
Nbr of Employees 168 000
Free-Float 52,6%
Chart ARCELORMITTAL
Duration : Period :
ArcelorMittal Technical Analysis Chart | MT | LU1598757687 | MarketScreener
Technical analysis trends ARCELORMITTAL
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 17
Last Close Price 32,70 $
Average target price 46,85 $
Spread / Average Target 43,3%
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
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