Steelmaker ArcelorMittal reduced its net loss and increased its revenue in the fourth quarter, while its EBITDA exceeded analysts’ forecasts.
According to the company’s press release, in October-December 2024, its net loss amounted to $390 million, or $0.51 per share, compared to a loss of $2.97 billion, or $3.57 per share, in the comparable period of the previous year. Excluding one-time items, earnings were $0.52 per share versus $1.18 a year earlier.
The earnings adjustment includes a one-time tax expense related to the change in the tax rate in Luxembourg ($0.4 billion) and a provision for tax litigation ($0.2 billion).
The company’s EBITDA in the fourth quarter increased by 13% to $1.65 billion from $1.45 billion a year earlier, while the consensus analysts’ forecast, presented earlier by the company itself, envisaged an increase to $1.53 billion.
ArcelorMittal’s revenue in the reporting quarter increased to $14.7 billion from $14.6 billion in the fourth quarter of 2023.
Steel production in the fourth quarter increased to 14 million tonnes from 13.7 million tonnes a year earlier, while steel supplies rose to 13.5 million tonnes against 13.3 million tonnes.
The company expects global steel consumption (excluding China) to grow by 2.5%-3.5% in 2025 compared to 2024.
Shares of ArcelorMittal are up 3.5% in trading on Thursday.
