ArcelorMittal: misses consensus IN first quarter
(CercleFinance.com) - Arcelormittal has published Q1 2019 net income of 400 million dollars, a third the level announced a year ago.
At 0.41 dollar, EPS is 25 cents below the consensus.
EBITDA came in at 1.7 billion dollars, down 34.2% y-o-y, despite shipments of 21.8 million tonnes (Mt), which are up 2.2%, as well as iron ore shipments of 13.8 million tonnes, up 0.4%.
Maintaining an investment grade credit rating at all levels of the cycle remains the steel maker's financial priority, with the group aiming to reduce its net debt to below 7 billion dollars.
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