Articles written by: Steven Goodstein

ArcelorMittal Widens Steel Production Cuts in Europe to Manage ‘Weak’ Demand

ArcelorMittal Widens Steel Production Cuts in Europe to Manage ‘Weak’ Demand

ArcelorMittal (MT, MT.AS), the world’s biggest steel and mining group, said early Wednesday that it was widening planned production cuts to France and Germany, blaming a “weak” demand environment amid “high” levels of import in Europe. The company will now also reduce primary steelmaking production at its facilities in Dunkirk, France and Eisenhuttenstadt in Germany as part of a decision […]

Texas Pacific Land Trust Investor Group Accuses Trustees of Breaching Fiduciary Duties

Texas Pacific Land Trust Investor Group Accuses Trustees of Breaching Fiduciary Duties

A group of dissident Texas Pacific Land Trust (TPL) shareholders said Tuesday they have filed counter-claims against two incumbent trustees of the company, David Barry and John Norris, accusing them of “rampant misconduct” and of disparaging the election of their nominee, Eric Oliver, as a trustee. The investor group, which includes SoftVest, L.P., Horizon Kinetics LLC and ART-FGT Family Partners, […]

Lennox Q1 Tops Estimates on EPS and Revenue; Affirms Full-Year Adjusted EPS

Lennox Q1 Tops Estimates on EPS and Revenue; Affirms Full-Year Adjusted EPS

Lennox International (LII), a heating, air conditioning and refrigeration company, reported Q1 adjusted earnings of $1.68 per share, up from $1.22 in the same period a year ago and exceeding the estimate of $1.43 from analysts polled by Capital IQ. Total revenue of $790.3 million was down from $834.8 million in the same period a year ago and topped the […]

CannTrust Plans to Sell $200 Million in Stock, Sees Q1 Revenues More Than Doubling

CannTrust Plans to Sell $200 Million in Stock, Sees Q1 Revenues More Than Doubling

CannTrust Holdings Inc. (CTST) said it sees Q1 sales of $17 million, or 116% higher than the $7.8 million in the year-earlier period, as the Ontario cannabis producer commences a $200 million share offering. The company’s adjusted EBITDA loss is forecast to fall to between $3.5 million and $4.5 million from $8.55 million in the same period ended March a […]