ArcelorMittal reported a third quarter 2026 revenue of $16.5 billion, missing analyst estimates, while adjusted basic EPS of $1.15 significantly exceeded projections. The company reported a net loss of $0.4 billion, primarily due to $1.1 billion in impairment and exceptional charges related to the idling of its operations in Kryvyi Rih, Ukraine, following missile strikes. Despite this, structural performance remained strong with EBITDA per tonne reaching $155, a 34% increase year-on-year.
Key Highlights
- Adjusted net income rose to $868 million in the third quarter, compared to $683 million in the second quarter, driven by structural improvements and optimized assets.
- Total steel shipments reached 13.0 million tonnes, missing the anticipated 14.2 million tonnes due to a strike in Canada and seasonality in European long products.
- European flat steel shipments counter-seasonally increased 1.1% sequentially, benefiting from enhanced EU trade measures and implementation of the Carbon Border Adjustment Mechanism (CBAM).
- Mining segment performance was hampered by weather-related disruptions in Liberia and lower market prices, leading to a reduction in full-year shipment guidance to approximately 16 million tonnes.