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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 CEST
   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 2018 73 500 M
EBIT 2018 6 322 M
Net income 2018 4 296 M
Debt 2018 7 760 M
Yield 2018 1,17%
P/E ratio 2018 8,29
P/E ratio 2019 8,86
EV / Sales 2018 0,59x
EV / Sales 2019 0,56x
Capitalization 35 894 M
Chart ARCELORMITTAL
Duration : Period :
ArcelorMittal Technical Analysis Chart | MT | LU1598757687 | 4-Traders
Technical analysis trends ARCELORMITTAL
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 37,5 $
Spread / Average Target 11%
EPS Revisions
Managers
NameTitle
Lakshmi Niwas Mittal Chairman & Chief Executive Officer
Aditya Mittal President & Chief Financial Officer
Brian E. Aranha CTO, Executive VP, Head-Research & Development
Michel Wurth Non-Independent Non-Executive Director
Vanisha Mittal Bhatia Non-Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ARCELORMITTAL2.58%35 894
POSCO--.--%29 015
NIPPON STEEL & SUMITOMO METAL CORP-17.48%21 122
NUCOR-2.08%19 804
FOSUN INTERNATIONAL LIMITED-3.22%18 343
THYSSENKRUPP-8.40%17 198