ArcelorMittal Q2 Profit Surges, Backs 2015 Outlook - Quick Facts

(RTTNews) - Steel giant ArcelorMittal (MT) reported that second-quarter net loss attributable to equity holders of the parent surged to $179 million or $0.10 per share from $52 million, or $0.03 per share in the prior-year quarter.

Earnings Before Interest, Tax, Depreciation and Amortization or EBITDA, a key metric for the steel company, declined to $1.40 billion from last year's $1.76 billion.

Sales for the quarter declined to $16.89 billion from $20.70 billion in the same quarter last year.

Meanwhile, steel shipments for the quarter grew 3.4 percent to of 22.2 metric tonnes Mt from the year-ago quarter.

Looking ahead to fiscal 2015, the firm continues to project group EBITDA within the range of $6.0 billion to $7.0 billion.

The company also still expects net interest expense of about $1.4 billion and capital expenditure of about $3.0 billion.