ArcelorMittal (NYSE: MT, Stock Forum) , the world’s leading integrated steel and mining company, posted a loss of $0.3 billion or 21 cents per share in the first quarter of 2013, compared to net income of $92 million or 6 cents in the same period last year.
Sales for the first quarter of 2013 were 20.9 million tonnes, down slightly from 22.2 million tonnes in the year ago period, the company said in a press release.
ArcelorMittal reiterated its guidance framework for 2013: Assuming that in 2013 iron ore prices and the margin of steel prices over raw material are similar to the levels of 2012, the company expected to report EBITDA above $7.1 billion.
ArcelorMittal shares rose 3.7% to $13 Friday, leaving the company with a market cap of $20.2 billion, based on 1.5 billion shares outstanding. The 52-week range is $17.99 and $11.15.