ArcelorMittal Q2 net income fell 62% YoY to $683M, up 19% QoQ. CEO Aditya Mittal said tariff rate quota and CBAM are creating a more balanced competitive environment.
Alpha Score of 35 reflects weak overall profile with weak momentum, poor value, moderate quality, moderate sentiment.
ArcelorMittal posted a 62% drop in net income to $683 million in the second quarter of 2026, the Luxembourg-based steelmaker said Thursday. A year earlier, net income stood at $1.79 billion.
On a sequential basis, the April-June profit rose 19% from $575 million in the first quarter. Sales climbed to $16.8 billion from $15.5 billion in the prior quarter, driven by a 4.4% rise in average steel prices and a 4.1% increase in shipments.
Aditya Mittal, the chief executive officer, said the new tariff rate quota alongside the carbon border adjustment mechanism (CBAM) is creating a more balanced competitive environment. “Today's results, with second quarter EBITDA per tonne of $155, demonstrate the continued evolution of our business towards structurally higher levels of profitability,” he said.
Crude steel production came in at 14.3 million tonnes, slightly below the 14.4 million tonnes from the same quarter last year, but above the 13.3 million tonnes produced in the first quarter. Steel shipments for the second quarter were 13.4 million tonnes, down year-over-year but up from 13.3 million tonnes in the previous three months.
ArcelorMittal owns 60% of ArcelorMittal Nippon Steel India (AMNS India), with Japan's Nippon Steel holding the rest. The company said income from associates, joint ventures and other investments rose to $229 million in the second quarter, compared with $177 million in the first quarter, due to stronger AMNS India results. AMNS India EBITDA increased to $257 million from $195 million over the same period, supported by a positive price-cost effect. Sales at the Indian unit rose 2.4% to $1.7 billion, driven by higher average steel selling prices.
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