ArcelorMittal’s Q3 earnings jump by 42% on higher steel prices

ArcelorMittal reported a 41.8% year on year increase in its third-quarter earnings in a financial statement released on Thursday November 1, attributing the rise to higher steel prices.

The company’s quarterly earnings before interest, taxes, depreciation and amortization (Ebitda) increased to $2.7 billion in July-September 2018, up from $1.9 billion in the corresponding period of 2017. “As expected, market conditions in the third quarter remained favorable,” Lakshmi Mittal, ArcelorMittal’s chairman and chief executive officer, said. “We continue to see robust real demand and healthy utilization rates across...

Published

Maria Tanatar

November 01, 2018

19:00 GMT

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