(RTTNews) - ArcelorMittal S.A. (MT), a steel and mining major, reported Thursday sharply lower profit in its second quarter, while EBITDA, a key earnings metric, grew from last year with higher sales and iron ore production.
Looking ahead, Aditya Mittal, Chief Executive Officer, stated the company anticipates higher shipments in the third quarter and second half of the year. Europe volumes in the third quarter are projected to be stable to higher compared with the second quarter, contrary to normal seasonal trends, with positive momentum expected across other businesses and all segments projected to outperform first-half volumes.
The company's portfolio of organic growth projects and completed mergers and acquisitions is expected to increase EBITDA potential by approximately $1.8 billion from 2026 and beyond, unchanged from previous guidance.
Capital expenditure guidance for 2026 remains at $4.5 billion to $5.0 billion.
In the second quarter, net income attributable to equity holders of the parent reached $683 million, compared to $1.793 billion in the prior year period. Earnings per share totaled $0.89, down from $2.34 a year ago.
The prior year's adjusted net income attributable was $1.005 billion or $1.32 per share.
Operating income for the quarter declined to $1.055 billion from $1.932 billion last year. However, EBITDA climbed to $2.064 billion from $1.860 billion a year ago. EBITDA margin was 12.3 percent, up from 11.7 percent in the prior year.
Sales totaled $16.761 billion, compared to $15.926 billion last year.
Crude steel production declined to 14.3 Mt from 14.4 Mt last year, and steel shipments fell to 13.4 Mt from 13.8 Mt a year ago. Total Group iron ore production, however, increased to 13.5 Mt from 11.8 Mt in the prior year period.
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