ArcelorMittal : Q3 preview: unfavourable earnings sequence, target price adjusted to € 30 vs € 31
>Towards a marked decline in Q3 due to seasonality and price declines - ArcelorMittal is due to report Q3 results on 9 November. We forecast EBITDA of $ 1.80bn, 5% below Visible Alpha consensus, and down 27% q-o-q amid general economic softness. This drop is mainly due to falling steel prices with the strongest impact in Brazil and ACIS which are more exposed to spot prices than Europe and NAFTA. Whilst distributor inventories remain relatively low and real demand at ...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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