ArcelorMittal : Q2 2020 better than expected. No Q3 guidance. There are signs of life albeit from a low point
>Q2 prints on the high side - ArcelorMittal (AM) posted Q2 2020 EBITDA of $ 707m above our expectations (ODDO BHF: $Â 501m) and well above the company consensus ($ 482m). Mining did much better than expected with an EBITDA of $ 391m (ODDO BHF: $ 295m; Q1 2020: $ 297m) which we can attribute to the positive impact of higher market-priced iron ore shipments (+6.4% q-o-q) and seaborne market prices (+4% q-o-q), as well as the benefit of lower freight. Overall, NAFTA disap...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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