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4-Traders 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 CET
   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 [email protected]

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Financials ($)
Sales 2017 67 840 M
EBIT 2017 5 689 M
Net income 2017 3 981 M
Debt 2017 9 729 M
Yield 2017 0,81%
P/E ratio 2017 9,43
P/E ratio 2018 11,39
EV / Sales 2017 0,70x
EV / Sales 2018 0,67x
Capitalization 37 640 M
Chart ARCELORMITTAL
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ArcelorMittal Technical Analysis Chart | MT | LU1598757687 | 4-Traders
Technical analysis trends ARCELORMITTAL
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 35,1 $
Spread / Average Target -4,6%
EPS Revisions
Managers
NameTitle
Lakshmi Niwas Mittal Chairman & Chief Executive Officer
Aditya Mittal Chief Financial Officer & CEO-ArcelorMittal Europe
Brian E. Aranha Chief Technology Officer, EVP & Head-Strategy
David George Clarke Vice President-Technology & Strategy
Michel Wurth Non-Independent Non-Executive Director
Sector and Competitors
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