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ArcelorMittal Posts Quarterly Loss

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ArcelorMittal (NYSE: MT) reported a loss in the three months ending June 30 and lowered its full-year earnings forecast.

ArcelorMittal posted a quarterly net loss of $780 million, versus a year-ago net profit of $1.02 billion. However, analysts were expecting a net profit of $117 million.

Its sales fell 10% to $20.2 billion, while earnings before interest, taxes, depreciation and amortization declined 34% to $1.7 billion.

ArcelorMittal shares closed at $12.97 yesterday.

Posted-In: lossEarnings News

 

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