Arcelormittal Announces The Publication Of Its Q4 And FY23 Sell-Side Analyst Consensus Figures; Q4 EPS $(2.00); FY23 EPS $2.65

Author: Benzinga Newsdesk | February 05, 2024 05:21pm

ArcelorMittal (‘the Company') today announces the publication of its fourth quarter and full year 2023 sell-side analysts' consensus figures.

The consensus figures are based on analysts' estimates recorded on an external web-based tool provided and managed by an independent company, Visible Alpha.

To arrive at the consensus figures below, Visible Alpha has aggregated the expectations of sell-side analysts who, to the best of our knowledge, cover ArcelorMittal on a continuous basis. This is currently a group of approximately 11 brokers.

The listed analysts follow ArcelorMittal on their own initiative and ArcelorMittal is not responsible for their views. ArcelorMittal is neither involved in the collection of the information nor in the compilation of the estimates.

This consensus includes the previously announced effects of the sale of the Company's Kazakhstan operations to the Qazaqstan Investment Corporation (‘QIC') that took place on 7 December 2023.

4Q'23 and FY'23 consensus estimates

                                                    4Q'23                   FY'23

• EBITDA ($m)                                     $1,200                        $7,492
• Net (loss) / income ($m)*                   $(1,645)                     $2,239
• (Loss) / earnings per share ($)*        $(2.00)                        $2.65
  
  
  
   

In addition, considering the downward revisions to the expected future cash flows of Acciaierie d'Italia (ADI), together with the uncertainty regarding its future, the Company expects to fully impair its investment in ADI (currently approximately $1.4 billion) in the 4Q results. The resulting charge would be recorded below operating income but is not reflected in the consensus net income and earnings per share figures above.

The sell side analysts who cover ArcelorMittal and whose estimates are included in the 4Q'23 group consensus outlined above are the following:

1. Bank of America – Patrick Mann
2. CITI – Ephrem Ravi, Krishan Agarwal
3. Deutsche Bank – Bastian Synagowitz
4. Exane – Tristan Gresser*
5. Groupo Santander – Robert Jackson
6. ING – Stijn Demeester
7. Jefferies – Cole Hathorn
8. Keybanc – Phil Gibbs
9. Morgan Stanley – Alain Gabriel
10. Oddo – Maxime Kogge
11. UBS – Andrew Jones
    
    
    
     

Number of sell-side analyst participation for EBITDA consensus: All 11 brokers.

* Number of sell-side analyst participation for net (loss) / income and (loss) / earnings per share is 10 (excluding broker that has not updated their model to reflect the impact of Kazakhstan sale discussed above).

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