Steel Mills
November 7, 2013
ArcelorMittal Does Not Announce TK USA Purchase During Earnings Call
Written by Sandy Williams
ArcelorMittal reported a net loss of $193 million in the third quarter. Sales of $19.6 billion were down from $19.7 in the second quarter and $20.2 billion in the third quarter of 2012. EBITDA of $1.7 billion was reported for the quarter, 24 percent higher than the same quarter in 2012 and well above analyst expectations.
“We believe that the bottom of the cycle is behind us,” said Lakshimi Mittal, Chairman and CEO. “Although operating conditions remain challenging, as economic indicators are improving we are cautiously optimistic about the prospects for 2014.”
