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ArcelorMittal's (MT) Torero Plant Powers Up With Bio-Coal
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ArcelorMittal (MT - Free Report) commissioned its Torero plant, designed to convert waste wood into bio-coal, a pivotal development in the steelmaking process at its Gent site. On Dec 18, the first bio-coal produced via torrefaction was successfully utilized in the Gent blast furnace. This groundbreaking initiative is projected to curtail annual carbon emissions from the facility by an impressive 112,500 tons by replacing fossil coal with this sustainable alternative.
The Torero plant is slated to convert 88,000 tons of waste wood into 37,500 tons of bio-coal annually. The utilization of bio-coal in the blast furnace will generate biogas, a resource slated for capture and conversion into ethanol at ArcelorMittal Gent's Steelanol facility. Marked as Europe's initial carbon capture and utilization (CCU) project, Steelanol commenced industrial ethanol production last month, marking significant progress toward the facility's full operational status.
The resulting ethanol holds the potential to serve as a fundamental ingredient for various chemical products, spanning transport fuels, paints, plastics, clothing and even fragrances, contributing substantially to the chemical sector's decarbonization efforts.
This innovative Torero project received backing from the European Union's Horizon 2020 Research and Innovation Framework Program. The project consortium involves key stakeholders across the value chain, encompassing industry giants like ArcelorMittal along with expert research entities like Joanneum Research, University of Graz and Chalmers Technical University, alongside Perpetual Next (formerly TorrCoal), the pioneers behind the carbonization process technology.
Aligned with ArcelorMittal Europe's ambitious goals, the company aims to slash CO2 emissions by 35% by 2030, eventually striving for carbon neutrality by 2050. This groundbreaking initiative marks a significant leap forward in their pursuit of sustainable, environmentally conscious steel production.
Shares of ArcelorMittal have gained 7.1% in the past year compared with a 32.1% rise of the industry.
Image Source: Zacks Investment Research
ArcelorMittal anticipates 1-2% year-over-year growth in global steel consumption (excluding China) for 2023. The company maintains a positive outlook on steel demand in the medium to long term. Capital expenditures for 2023 are projected in the range of $4.5-$5 billion. Strategic projects are expected to contribute an additional $1.3 billion in normalized EBITDA.
The Zacks Consensus Estimate for AXTA’s current-year earnings is pegged at $1.58 per share, indicating year-over-year growth of 6.8%. AXTA beat the Zacks Consensus Estimate in three of the last four quarters and missed one, the average earnings surprise being 6.7%. The company’s shares have increased 29.7% in the past year.
The Zacks Consensus Estimate for HWKN’s current-year earnings has been revised upward by 1.8% in the past 60 days. HWKN beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 27.5%, on average. The stock has rallied around 80.8% in a year.
The consensus estimate for Alamos’ current fiscal year earnings is pegged at 53 cents per share, indicating a year-over-year surge of 89.3%. AGI beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 25.6%. The company’s shares have surged 36.9% in the past year.
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ArcelorMittal's (MT) Torero Plant Powers Up With Bio-Coal
ArcelorMittal (MT - Free Report) commissioned its Torero plant, designed to convert waste wood into bio-coal, a pivotal development in the steelmaking process at its Gent site. On Dec 18, the first bio-coal produced via torrefaction was successfully utilized in the Gent blast furnace. This groundbreaking initiative is projected to curtail annual carbon emissions from the facility by an impressive 112,500 tons by replacing fossil coal with this sustainable alternative.
The Torero plant is slated to convert 88,000 tons of waste wood into 37,500 tons of bio-coal annually. The utilization of bio-coal in the blast furnace will generate biogas, a resource slated for capture and conversion into ethanol at ArcelorMittal Gent's Steelanol facility. Marked as Europe's initial carbon capture and utilization (CCU) project, Steelanol commenced industrial ethanol production last month, marking significant progress toward the facility's full operational status.
The resulting ethanol holds the potential to serve as a fundamental ingredient for various chemical products, spanning transport fuels, paints, plastics, clothing and even fragrances, contributing substantially to the chemical sector's decarbonization efforts.
This innovative Torero project received backing from the European Union's Horizon 2020 Research and Innovation Framework Program. The project consortium involves key stakeholders across the value chain, encompassing industry giants like ArcelorMittal along with expert research entities like Joanneum Research, University of Graz and Chalmers Technical University, alongside Perpetual Next (formerly TorrCoal), the pioneers behind the carbonization process technology.
Aligned with ArcelorMittal Europe's ambitious goals, the company aims to slash CO2 emissions by 35% by 2030, eventually striving for carbon neutrality by 2050. This groundbreaking initiative marks a significant leap forward in their pursuit of sustainable, environmentally conscious steel production.
Shares of ArcelorMittal have gained 7.1% in the past year compared with a 32.1% rise of the industry.
Image Source: Zacks Investment Research
ArcelorMittal anticipates 1-2% year-over-year growth in global steel consumption (excluding China) for 2023. The company maintains a positive outlook on steel demand in the medium to long term. Capital expenditures for 2023 are projected in the range of $4.5-$5 billion. Strategic projects are expected to contribute an additional $1.3 billion in normalized EBITDA.
ArcelorMittal Price and Consensus
ArcelorMittal price-consensus-chart | ArcelorMittal Quote
Zacks Rank & Key Picks
ArcelorMittal currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Axalta Coating Systems Ltd. (AXTA - Free Report) , sporting a Zacks Rank #1 (Strong Buy), and Hawkins, Inc (HWKN - Free Report) and Alamos Gold Inc. (AGI - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for AXTA’s current-year earnings is pegged at $1.58 per share, indicating year-over-year growth of 6.8%. AXTA beat the Zacks Consensus Estimate in three of the last four quarters and missed one, the average earnings surprise being 6.7%. The company’s shares have increased 29.7% in the past year.
The Zacks Consensus Estimate for HWKN’s current-year earnings has been revised upward by 1.8% in the past 60 days. HWKN beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 27.5%, on average. The stock has rallied around 80.8% in a year.
The consensus estimate for Alamos’ current fiscal year earnings is pegged at 53 cents per share, indicating a year-over-year surge of 89.3%. AGI beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 25.6%. The company’s shares have surged 36.9% in the past year.