ArcelorMittal : Too much uncertainty on the outlook and strategic plans, we downgrade to Neutral
>Reduction in estimates, poor visibility on 2024 - ArcelorMittal reported mixed Q3 2023 results yesterday (cf. details in yesterday’s First Take) with EBITDA 3% ahead of expectations at $ 1.87bn but slightly weaker-than-expected volumes and prices in most regions, the outperformance being due primarily to good cost control. The target of broadly stable volumes in 2023 is a negative shift as the group previously expected volumes to be at least stable on an organic basi...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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