ArcelorMittal Q3 Net Income Rises

(RTTNews) - ArcelorMittal (MT) reported that its third quarter net income attributable to equity holders of the parent increased to $377 million from $287 million, prior year. Basic earnings per common share was $0.50 compared to $0.37. EBITDA was $1.51 billion compared to $1.58 billion. Adjusted net income attributable to equity holders of the parent declined to $474 million from $488 million. Adjusted basic earnings per common share was $0.62 compared to $0.63. Third quarter sales were $15.66 billion compared to $15.20 billion, last year.

The Group stated that its high return strategic growth projects, together with the impact of recent M&A, are expected to increase future EBITDA potential by $2.1 billion including $0.7 billion and $0.8 billion targeted in 2025 and 2026, respectively.

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