ArcelorMittal reports USD 391 million loss in July-Sept quarter

New Delhi: Global steel giant ArcelorMittal on Thursday reported loss of USD 391 million in the September quarter due to higher energy costs in Europe.

The Luxembourg-based steel giant, which also has a presence in India, had posted a net income of USD 377 million in the same period a year ago.

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The company follows a January-December financial year.

"3Q 2026 reported net loss...included impairment and exceptional items related to the idling of ArcelorMittal Kryvyi Rih (Ukraine)," it said.

While adjusted net income increased to USD 0.9 billion compared with an adjusted net income of USD 0.7 billion in 2Q 2026. Its sales increased to USD 16,466 million in the September quarter, from USD 15,657 million a year ago.

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Steel output was at 13.7 million tonnes as against 13.6 million tonne.

ArcelorMittal Chief Executive Officer Aditya Mittal said, "Our third quarter performance provides further evidence of the structural improvement in ArcelorMittal's earnings capacity. We continue to generate healthy margins, with EBITDA per tonne of USD 155 (USD 44 higher year-on-year) reflecting the benefits of the actions we have taken over several years to enhance our asset portfolio and invest in strategic growth."

"Headwinds during the quarter included higher energy costs in Europe and weather-related disruption and lower pricing impacting our mining business. There are encouraging signs in both areas. Higher energy costs in Europe are increasingly being reflected in steel pricing, and we expect our Liberian mining operation to reach nameplate capacity in the fourth quarter, supporting confidence in its future contribution."

In India, AMNS India -- its joint venture with Japan-based Nippon Steel -- reported an EBITDA of USD 266 million in the July-September quarter, as against USD 217 million in the third quarter of 2025.

ArcelorMittal is one of the world's leading steel and mining companies, with a presence in 60 countries.