ArcelorMittal's earnings improve in Q3, but impairment charges push results into loss

ArcelorMittal reported a net loss of USD 391 mln in the third quarter of 2026, compared with a net profit of USD 377 mln in the same period last year, mainly due to impairment and exceptional items related to the idling of its Kryvyi Rih operations in Ukraine.

Despite the reported loss, the company's underlying performance improved, with EBITDA rising 34pct YoY to USD 2 bln. EBITDA per ton increased to USD 155, up USD 44 per ton from a year earlier, supported by strategic investments, asset optimization and improved market conditions in some regions.

Sales increased to USD 16.47 bln in Q3 from USD 15.66 bln a year earlier. Crude steel production rose slightly to 13.7 mln tons from 13.6 mln tons, while steel shipments declined to 13 mln tons from 13.6 mln tons. On a sequential basis, both production and shipments were lower than in the second quarter.

For the first nine months of 2026, ArcelorMittal recorded a net profit of USD 867 mln, compared with USD 2.97 bln in the same period of 2025. Sales rose to USD 48.68 bln from USD 46.38 bln.

Crude steel production in the nine-month period declined to 41.3 mln tons from 42.8 mln tons a year earlier, while steel shipments fell to 39.2 mln tons from 41 mln tons.

Looking ahead, ArcelorMittal said European steel market conditions are strengthening as lower imports and enhanced trade measures support domestic capacity utilization. The company expects Group shipments in the second half of 2026 to exceed those in the first half, with European flat steel shipments projected to increase further in the fourth quarter.

ArcelorMittal operates primary steelmaking facilities in 14 countries. In 2025, the group produced 55.6 mln tons of crude steel and 48.8 mln tons of iron ore.