LUXEMBOURG (dpa-AFX) - ArcelorMittal S.A. (MT), a steel and mining company, reported Thursday higher EBITDA, a key earnings metric, and sales with increased steel and iron ore production, while shipments declined.
Meanwhile, the company posted a net loss in its third quarter on one-time charge, compared to prior year's profit.
Looking ahead, the company said it expects flat shipment growth to accelerate in the fourth quarter, a double-digit year-on-year increase, with Group shipments in second half expected to exceed those in the first half.
Further, outlook across the near, medium and long term remains positive.
The firm added that its portfolio of organic growth projects and completed M&A is expected to increase EBITDA potential by approximately $1.8 billion from 2026 and beyond, unchanged from previous guidance.
In the third quarter, net loss attributable to equity holders was $391 million, compared with net income of $377 million in the prior year period. The company posted a loss per share of $0.52, versus earnings per share of $0.49 a year ago.
The latest quarter result included impairment and exceptional items related to the idling of ArcelorMittal Kryvyi Rih (Ukraine).
However, adjusted net income attributable to equity holders reached $868 million, up from $474 million last year. Adjusted basic earnings per share increased to $1.15 from $0.62 previously.
Operating results showed a loss of $131 million compared with operating income of $544 million last year. Operating loss per tonne was $10 per metric ton versus $40 per metric ton a year ago.
EBITDA totaled $2.023 billion in the third quarter, compared with $1.508 billion in the prior year period. EBITDA per tonne increased to $155 per metric ton from $111 per metric ton last year, remaining significantly above historical averages.
Sales reached $16.466 billion, compared with $15.657 billion a year ago.
Crude steel production totaled 13.7 million metric tons, versus 13.6 million metric tons last year. Steel shipments declined to 13.0 million metric tons from 13.6 million metric tons previously.
Total Group iron ore production increased to 12.6 million metric tons from 12.1 million metric tons last year. Iron ore production from AMMC and Liberia operations totaled 9.7 million metric tons compared with 8.5 million metric tons a year ago.
Iron ore shipments from AMMC and Liberia reached 9.7 million metric tons versus 8.2 million metric tons last year.
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