During Monday’s current trade, ArcelorMittal SA (ADR) (NYSE:MT)’s shares dropped -3.14%, to $11.49.
ArcelorMittal (MT) declared results for the three month period ended March 31, 2015.
Highlights:
- Health and safety: LTIF rate of 0.88x in 1Q 2015 as contrast to 0.89x in 4Q 2014
- EBITDA of $1.4 billion in 1Q 2015 (counting $0.1 billion onerous contract provision), as compared to $1.8 billion in 1Q 2014
- Despite noteworthyforex headwinds, 1Q 2015 underlying steel-only EBITDA stable as compared to 1Q 2014
- Net loss of $0.7 billion in 1Q 2015 (primarily forex driven) as contrast to a net loss of $0.2 billion in 1Q 2014
- Steel shipments of 21.6Mt, an enhance of 3% as contrast to 21Mt in 1Q 2014
- 6 Mt own iron ore production, an enhance of 5% as contrast to 14.8 Mt in 1Q 2014; 9.4 Mt shipped and stated at market prices as contrast to 9.3 Mt in 1Q 2014
- Iron ore unit cash costs down 13% YoY; FY 2015 cost reduction target raised to 15% (from 10% formerly)
- Net debt of $16.6 billion as of March 31, 2015 as contrast to $18.5 billion at March 31, 2014
Analysis of results for 1Q 2015 as compared to 4Q 2014 and 1Q 2014
Total steel shipments for 1Q 2015 were 2% higher at 21.6 million metric tonnes as contrast with 21.2 million metric tonnes for 4Q 2014, and 3% higher as contrast to 21.0 million metric tonnes for 1Q 2014.
Sales for 1Q 2015 were $17.1 billion as contrast to $18.7 billion for 4Q 2014 and $19.8 billion for 1Q 2014. Sales in 1Q 2015, were 8.6% lower as contrast to 4Q 2014 primarily due to lower average steel selling prices (-9.2%), seasonally lower market priced iron ore shipments (-5.7%) and lower iron ore reference prices (-16%), partially offset by higher steel shipments (+2.0%).
Depreciation was lower at $807 million for 1Q 2015 as contrast to $982 million in 4Q 2014 primarily on account of foreign exchange impact due to depreciation of all major currencies (Brazilian real, Euro and Canadian dollar) against the US dollar. Depreciation in 1Q 2015 was significantly lower than $1,080 million for 1Q 2014 on account of these impacts talk about above, in addition to enhances in the useful lives of plant and equipment. Assuming a similar foreign exchange translation impact for the remainder of 2015, full year depreciation is predictable to be about $3.5 billion.
Impairment charges for 1Q 2015 and 1Q 2014 were nil. Impairment charges for 4Q 2014 of $264 million comprised of $114 million primarily related to the idling of the steel shop and rolling facilities of Indiana Harbor Long carbon operations in the US (NAFTA); $63 million related to write-down of the Volcan iron ore mine in Mexico (Mining); and $57 million related to the closure of mill C in Rodange, Luxembourg (Europe).
Operating income for 1Q 2015 was $571 million, as contrast to $569 million in 4Q 2014 and $674 million in 1Q 2014. Operating results for 1Q 2015 were negatively influenced by a $69 million provision primarily related to onerous hot rolled and cold rolled contracts in the US (NAFTA). Operating results for 4Q 2014 were negatively influenced by a $76 million provision related to onerous annual tin plate contracts at Weirton in the US (NAFTA), offset by the positive impact from the $79 million gain on disposal of Kuzbass coal mines in Russia (Mining).
ArcelorMittal, together with its auxiliaries, operates as an integrated steel and mining company worldwide. The company operates through five segments: NAFTA; Europe; Brazil and Neighboring Countries (Brazil); Africa & Commonwealth of Independent States (ACIS); and Mining. It produces finished and semi-finished steel products. The companys products comprise flat products, such as slabs, plates, hot-and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, and tinplate and color coated coils and sheets; and seamless and welded pipes and tubes.
Amazon.com, Inc (NASDAQ:AMZN)’s shares jumped 0.05% to $425.77, during the current trading session Monday’s.
Amazon.com, Inc (AMZN) declared the launch of AWS Educate, a program that assists educators and students use real-world cloud technology in the classroom to graduate students ready to enter the cloud workforce. AWS Educate is designed to make it easy for educators to quickly and easily find cloud-related course content, incorporate cloud technology into their teaching curriculum, and provide students with hands-on experience with cloud technology – with AWS credits to make the cloud more affordable than ever. AWS Educate is free for educational institutions, educators and students to join, following AWS’s approval of their application.
Cloud computing has rapidly transformed the way businesses and organizations across industries operate and innovate, such as researchers using the cloud to study genomics, non-profits using data analytics to better target donors, startups creating disruptive new applications, or established companies bringing new innovations to market faster. Cloud computing has become the default environment not just for building and deploying applications, but it has also become a key driver for transforming organizational innovation and business operations. As such, there is a growing demand for developers, information technology (IT) professionals, and forward-thinking business leaders with demonstrated knowledge of cloud computing. AWS Educate empowers educators with training, tools, and technologies to assist students develop the skills to design, deploy and operate applications on the AWS Cloud.
Professor Zack Ives at the University of Pennsylvania shared complete course materials and assignments (jointly developed with his colleague, Professor Andreas Haeberlen) from two classes with AWS Educate. Professor Ives said, “I am a big believer in course projects that fully exercise what the students are learning in the class, and simultaneously demystify the popular services they use every day. We give them realistic projects, such as a full-fledged social network with friend recommendation, or building a Web crawler and search engine. AWS Educate completely changes the scope of the resources we can make accessible for the project — even in a large class, they see what it takes to truly harness Hadoop, cloud key-value stores, and clusters of virtual machines. This experience is imperative to giving them the ability and confidence to succeed in their future careers. I’m happy to share my coursework with the AWS Educate educator community, and look forward to learning from fellow computer science professors.”
Amazon.com, Inc. operates as an online retailer in North America and internationally. It operates in two segments, North America and International. The company serves consumers through retail Websites, such as amazon.com and amazon.ca, which primarily comprise merchandise and content purchased for resale from vendors and those offered by third-party sellers. It also offers programs that enable sellers to sell their products on company’s Websites, and their own branded Websites; and programs, which allow authors, musicians, filmmakers, app developers, and others to publish and sell content.
In an afternoon trade, Dollar Tree, Inc (NASDAQ:DLTR)’s shares dropped -0.55%, to $77.90.
Dollar Tree, Inc (DLTR), North America’s leading operator of discount variety stores selling everything for $1 or less, will host its conference call for investors and analysts to talk about financial results for the first quarter ended May 2, 2015.
WHEN:Thursday, May 21, 2015
9:00 a.m. Eastern Time
TAKE PART:
At least 5 minutes prior to the conference call, please dial 888-812-8589 for USA and Canadian calls or 913-981-5519 for international calls.
Dollar Tree, Inc. operates discount variety stores in the United States and Canada. Its stores offer merchandise at the fixed price of $1.00. The company’s stores provide consumable merchandise, which comprises candy and food, and health and beauty care products; and everyday consumables, such as paper and chemicals, and frozen and refrigerated food. Its stores also offer various merchandise that comprise toys, durable housewares, gifts, party goods, greeting cards, softlines, and other items; and seasonal goods comprising of Valentine’s Day, Easter, Halloween, and Christmas merchandise.
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