ArcelorMittal (NYSE:MT) Releases Quarterly Earnings Results, Beats Estimates By $0.35 EPS

Key Points

• ArcelorMittal reported quarterly EPS of $1.15, beating the $0.80 consensus by $0.35; revenue rose 5.2% year over year to $16.47 billion but fell short of analysts’ $17.77 billion estimate.
• Third-quarter EBITDA increased 34% year over year to $2 billion, with management citing improving margins. The company expects European shipments to grow at a double-digit rate in Q4 and sees lower imports and contract repricing supporting further improvement.
• Management expects strong fourth-quarter free cash flow and may return more than its usual 50% of free cash flow to shareholders through buybacks, while keeping its annual capital expenditure reference range at $4.5 billion–$5 billion.

ArcelorMittal (NYSE:MT - Get Free Report) released its quarterly earnings results on Thursday. The basic materials company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.35, Zacks reports. ArcelorMittal had a net margin of 1.64% and a return on equity of 4.87%. The business had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $17.77 billion. During the same quarter last year, the firm earned $0.62 EPS. ArcelorMittal's revenue for the quarter was up 5.2% on a year-over-year basis.

Here are the key takeaways from ArcelorMittal's conference call:

• Third-quarter EBITDA rose 34% year over year to $2 billion, while EBITDA per ton reached $155, up $44 from a year earlier. Management said the results reflect improving margins, though it noted that higher energy costs remain a factor.
• In Europe, flat-steel imports were about 50% lower year over year in Q3, and the company expects European flat-product shipments to increase at a double-digit rate year over year in Q4. Management expects destocking to largely end by year-end, with lower imports and annual contract repricing supporting further improvement in 2027.
• Management sees growth potential across regions: India achieved a shipment record and expects higher volumes from its Hazira expansion in 2027, while North American demand and pricing trends remain supportive. Strategic projects are still ramping up, including Calvert, whose progress has been slower than expected.
• The company expects strong Q4 free cash flow, partly from a seasonal working-capital release, and said it may return more than the usual 50% of free cash flow to shareholders through buybacks. It maintained its $4.5 billion–$5 billion annual capital expenditure reference range.

ArcelorMittal Stock Performance

Shares of NYSE:MT traded up $0.61 during midday trading on Friday, hitting $61.03. The company's stock had a trading volume of 1,341,232 shares, compared to its average volume of 1,337,406. The stock has a market capitalization of $47.30 billion, a price-to-earnings ratio of 45.21, a PEG ratio of 0.57 and a beta of 1.55. The stock's 50 day simple moving average is $67.33 and its 200 day simple moving average is $63.93. ArcelorMittal has a fifty-two week low of $38.67 and a fifty-two week high of $79.68. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 1.43.

More ArcelorMittal News

Here are the key news stories impacting ArcelorMittal this week:

• Positive Sentiment: Third-quarter EPS of $1.15 beat the $0.80 consensus, while revenue rose 5.2% year over year. Reports also cited higher production, sales and EBITDA, supporting the view that operating performance improved. ArcelorMittal Q3 EBITDA, Sales Rise On Higher Production
• Positive Sentiment: European market strength may be helping margins: the company said higher steel tariffs were boosting profits, and European flat-steel shipments rose from the prior quarter despite typical seasonal patterns. ArcelorMittal beats profit expectations as European market strengthens
• Neutral Sentiment: ArcelorMittal also reported production for the third quarter and first nine months of 2026; the article listing provided no specific figures to assess the operational trend. Production results
• Negative Sentiment: Revenue of $16.47 billion fell short of the $17.77 billion analyst estimate. A separate report said ArcelorMittal recorded a $391 million third-quarter loss following a shutdown in Ukraine, a counterweight to the adjusted earnings beat. ArcelorMittal posts $391 million Q3 loss after Ukraine shutdown

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft set a $79.00 price target on ArcelorMittal and gave the stock a "buy" rating in a research report on Monday, October 5th. JPMorgan Chase & Co. raised ArcelorMittal from a "neutral" rating to an "overweight" rating in a report on Thursday, October 15th. Jefferies Financial Group reissued a "buy" rating on shares of ArcelorMittal in a research note on Wednesday, September 23rd. Citigroup restated a "buy" rating on shares of ArcelorMittal in a report on Tuesday, August 4th. Finally, Morgan Stanley began coverage on ArcelorMittal in a research report on Monday, August 24th. They set an "overweight" rating and a $82.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, ArcelorMittal has a consensus rating of "Moderate Buy" and an average target price of $74.55.

ArcelorMittal Company Profile

ArcelorMittal is a global steel and mining company that produces steel products for customers across industries including automotive, construction, energy, appliances and packaging. Its offerings include flat and long steel products, as well as iron ore and metallurgical coal used in steelmaking.

The company operates across the Americas, Europe and other regions, combining mining and steelmaking activities with research and product development. ArcelorMittal was formed in 2006 through the merger of Arcelor and Mittal Steel.

Aditya Mittal is the company's chief executive officer, and Lakshmi N.

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