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ArcelorMittal moves higher on surging Q4 earnings, revenues [Seeking Alpha]

ARCELORMITTAL (MT)  More Company Research Source: Seeking Alpha
Last arcelormittal earnings: 1/31 01:01 am Check Earnings Report
US:NYSE Investor Relations: corporate.arcelormittal.com/investors
PDF ArcelorMittal moves higher on surging Q4 earnings, revenuesArcelorMittal (NYSE:MT)+1.8% premarket after reportingQ4 net profit of $1.04B, more than doubling its result from a year ago, andresuming dividend payments.Q4 sales rose by 25% to $17.7B due to higher steel and iron ore shipments and higher average steel selling prices.MT says net debt fell by $1.9B to $10.1B during the quarter, mainly due to positive free cash flow, and plans reduce debt still further to $6B.MT offers anupbeat steel industry outlook for 2018, saying the demand environment remains positive and steel spreads remain healthy; it estimates global steel demand measured by apparent steel consumption will grow 1.5%-2.5% in 2018, with Chinese demand flat.The company says it will continue to work with the European Commission, which has opened a phase 2 review of its proposed acquisition of Italian steelmaker Ilva.See all stocks on the move »Now read:The Nest Egg Portfolio: I'm Selling ArcelorMittal Again » [Read more]

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