ArcelorMittal backs FY24 capital expenditures view $4.5B-$5B

The company said, “FY 2024 capex is expected to be within the previously communicated guidance range ($4.5bn-$5.0bn). The Company expects the year to date investment in working capital to reverse by year end, supporting the outlook for free cash flow generation. The completion of the Company’s strategic growth projects is expected to generate additional EBITDA and investable cash flow in the coming periods10,16. ArcelorMittal (MT) continues to optimize its decarbonization pathway to ensure that the Company can remain competitive and achieve an appropriate return on investment.”