Image source: The Motley Fool. ArcelorMittal NY Registered Shs (NYSE: MT)Q1 2020 Earnings CallMay 9, 2020, 8:30 p.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Daniel Fairclough -- Vice president, Corporate Finance and Head of Investor RelationsThank you very much.
Moody's Investors Service, ("Moody's") has today downgraded ArcelorMittal's senior unsecured ratings to Ba1 from Baa3. Concurrently, Moody's has assigned a Ba1 corporate family rating and a Ba1-PD probability of default rating to ArcelorMittal. The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices, and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets.
Lockdowns across the world to put a check on the spread of the coronavirus hurt global steel production in April.
27 May 2020 – ArcelorMittal (‘the Company’), the world’s leading steel and mining company, has today published its 2019 integrated annual review, ‘Inventing smarter steels for a better world’. The review, which can be accessed at https://corporate.arcelormittal.com/corporate-library/reporting-hub/integrated-annual-review-2019, underpins the Company’s commitment to transparent reporting. It has been produced in-line with the International Integrated Reporting Council’s framework and demonstrates the Company’s approach to ensuring it brings long-term, sustainable value to its broad stakeholder base.
28 April 2020, 10:30 CET ArcelorMittal today announces the publication of its first quarter 2020 EBITDA sell-side analysts’ consensus figures. The consensus figures are based.
Luxembourg, May 7, 2020 - ArcelorMittal (referred to as “ArcelorMittal” or the “Company”) (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world’s leading.
ArcelorMittal (‘the Company’) announces the publication of the convening notice for its Annual General Meeting and Extraordinary General Meeting of shareholders (‘General Meetings’), which will be held on Saturday 13 June 2020 at 12 noon CET. In view of the COVID-19 outbreak, and related limitations on travel and gatherings, ArcelorMittal is taking precautionary measures to limit exposure for its employees, shareholders and other stakeholders. The Company’s Board of Directors has therefore decided to hold this year’s General Meetings without a physical presence, as permitted under Luxembourg law.
Privately owned Liberty Steel Group said on Monday it has appointed a former executive of ArcelorMittal to a top role in the firm. Paramjit Kahlon will become chief executive of primary steel and integrating mining at British-based Liberty Steel, part of the GFG Alliance, the steelmaker said in a statement. GFG, a conglomerate owned by the family of British commodities tycoon Sanjeev Gupta, announced last October it was merging its steel operations into a new entity to be ready for a potential listing.
ArcelorMittal's (MT) total steel shipments decline year over year in the first quarter.
Today is shaping up negative for ArcelorMittal (AMS:MT) shareholders, with the analysts delivering a substantial...
25 May 2020, 15:45 CET With reference to Article 19(3) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market.
ArcelorMittal, the world's largest steelmaker, forecast its steel shipments would fall by up to a third in the second quarter, leading to sharply lower profits as coronavirus restrictions hit demand. The company said it had suspended dividend payments until further notice and was cutting planned investment this year by a quarter, but Chief Financial Officer Aditya Mittal said that while there was much uncertainty, the second quarter could be the trough. "We would expect that Q2 would be the low point in terms of activity levels but clearly it's difficult to predict at this time but there are certain signs which would suggest that," Aditya Mittal told a conference call.
18 May 2020, 13:15 CET ArcelorMittal (‘the Company’) announces that a 5.11% shareholding notification by BlackRock Inc. is available in the Luxembourg Stock Exchange’s.
European stocks rebounded on Tuesday amid data showing new coronavirus cases slowed, while two of Europe’s largest steelmakers skidded as demand deteriorates.
This announcement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons. This announcement and this offering are only addressed to and directed at persons in Member States of the European Economic Area (“EEA”) and in the UK who are "Qualified Investors" within the meaning of Article 2(e) of the Prospectus Regulation.
This announcement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons. This announcement and this offering are only addressed to and directed at persons in Member States of the European Economic Area (“EEA”) and in the UK who are "Qualified Investors" within the meaning of Article 2(e) of the Prospectus Regulation.
ArcelorMittal
European steelmaker ArcelorMittal (NYSE: MT) reported its Q1 2020 earnings results last Thursday. Although the company had a 23% decline in sales ($14.8 billion) and a net loss ($1.11 per share), investors reacted positively that day, bidding up Arcelor shares nearly 6%. Today, Arcelor is giving back all those gains and more.
(Bloomberg) -- ArcelorMittal withdrew its closely watched global steel guidance because of the coronavirus pandemic, but sounded a relatively upbeat tone as lockdown restrictions start to ease.While ArcelorMittal likened the suddenness of the virus impact to the global financial crisis, it looked forward to economies reopening. A recovery in Chinese demand, coupled with easing lockdowns in some parts of Europe and the U.S., including restarts at auto plants is “a good start,” Chief Financial Officer Aditya Mittal said.Goldman Sachs Group Inc. and Morgan Stanley economists said earlier this week that there is evidence the world economy is starting to recover from the coronavirus and the restrictions placed on businesses and consumers. Steel demand -- a barometer of the global economy -- has dropped about 30% in Europe and North America.“We would expect that Q2 would be the low point in terms of activity levels,” Mittal said on a conference call on Thursday. “Clearly it’s difficult to predict at this time but there are certain signs that would suggest that.”Arcelor shares rose as much as 5.4%, even after the company suspended dividend payments. “It seems likely that over the course of this month countries will start to announce details of their “exit” strategies,” ArcelorMittal Chairman Lakshmi Mittal said in a statement. “Construction and manufacturing are expected to be among the first sectors to be permitted to re-start operations and indeed we are seeing signs of customers re-starting production.”ArcelorMittal expects second-quarter earnings before interest, taxes, depreciation and amortization to drop to $400 million to $600 million, from $967 million in the first quarter. Those earnings were better than anticipated, according to Citigroup Inc.When demand improves, the company is set to ramp up production quickly and resume dividends when the operating environment normalizes.Three months ago, the company had expected the coronavirus to only have a short-term impact on steel demand, after the sector was pummeled in 2019 by slumping demand from automakers, trade wars and sluggish economies in Europe.The company joined other industrial producers in cutting spending to protect its balance sheet. It expects fixed costs this quarter to be 25% to 30% below first-quarter levels thanks to measures including salary cuts for its senior management, temporary layoffs and state aid.Read More: ArcelorMittal Pulls Forecast for Steel Demand; Suspends DividendFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
ArcelorMittal's (MT) new credit facility is expected to have a maturity of 12 months and will likely be utilized for general corporate purposes.