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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Arcelor Mittal New | NYSE:MT | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.05 | -0.19% | 26.02 | 26.37 | 26.13 | 26.32 | 1,449,631 | 01:00:00 |
From May 2019 to May 2024
By Christopher Alessi
FRANKFURT--Steelmaker ArcelorMittal said Friday it swung to a profit in the fourth quarter of 2016, while outlining an increase in capital expenditure for the current year.
Net profit for the period ended Dec. 31 was $403 million, compared with a loss of $6.69 billion during the same period a year earlier. It returned to profitability mainly because of a lack of exceptional charges stemming from a quick decline in international steel prices, which caused a loss in 2015.
The world's largest steel maker said it expects to increase capital expenditure in 2017 to $2.9 billion, compared with $2.4 billion last year.
Quarterly sales rose 1% to $14.1 billion, as a result of higher steel shipment volumes, higher average steel selling prices and higher iron-ore reference prices. But those gains were offset by lower market-priced iron-ore shipments, the company said.
Write to Christopher Alessi at christopher.alessi@wsj.com
(END) Dow Jones Newswires
February 10, 2017 01:53 ET (06:53 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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