Bulletin
Investor Alert

May 6, 2021, 1:22 a.m. EDT

ArcelorMittal swings to net profit

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

By Ian Walker

ArcelorMittal on Thursday reported a swing to net profit for the first quarter of the year on revenue that rose, boosted by higher prices.

The Luxembourg-based steel-and-mining company made a net profit of $2.29 billion for the quarter, compared with a loss of $1.12 billion a year earlier and a profit of $1.21 billion for the fourth quarter of 2020.

Sales rose to $16.19 billion from $14.84 billion.

Earnings before interest, taxes, depreciation and amortization--one of the company's preferred metrics--were $3.24 billion compared with $967 million and a company-provided consensus of $2.97 billion based on 17 analysts' forecasts.

The company reiterated its plan to return $570 million to shareholders and pay a 30-cent a share dividend in June.

Write to Ian Walker at ian.walker@wsj.com

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.