ArcelorMittals Reports Strong 3Q Results and Announces Completion of ILVA Acquisition
ArcelorMittal issued robust third-quarter profits, as EBITDA rose 42% year on year to $2.7 billion. Operating margins for every reporting segment other than Europe came in above 10% in the quarter. Having updated our valuation model, our fair value estimates are unchanged at $20 and EUR 17 per share. Our long-term negative outlook for the company is unchanged, as we expect profitability for both the company's steelmaking and mining operations to contract in the years to come. Our no-moat rating ...ArcelorMittal is a steel company, based in Luxembourg, with operations in more than 60 countries. Co. is active in all major global steel markets, including automotive, construction, household appliances and packaging, as well as activities in Research & Development and technology, with captive supplies of raw materials and its own distribution network. Co. has an industrial presence in over 20 countries spanning four continents, covering key steel markets, from emerging to mature. Co. offers a complete spectrum of steel products from commodity steel to value-added products, from long products to flat, from standard to specialty products, from carbon steel to stainless steel and alloys.
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