ArcelorMittal Reports First Quarter 2026 Results

ArcelorMittal announced its first quarter 2026 results, highlighting a resilient performance with an EBITDA per tonne of $131, an increase of $15 year-on-year, attributed to strategic investments and asset optimization. The company reported a net income of $0.6 billion (basic EPS of $0.76/share). Key operational achievements include record iron ore production and shipments in Liberia and a return to normalized operations in North America. A seasonal working capital investment of $1.5 billion led to a free cash outflow of $1.3 billion, increasing net debt to $9.3 billion, while liquidity remains robust at $9.9 billion. The company generated $2.0 billion in investable cash flow over the past 12 months, investing $1.5 billion in strategic capex and returning $0.7 billion to shareholders. ArcelorMittal is strategically positioned to benefit from a balanced European steel market due to new policies like CBAM and TRQ, which are expected to reduce imports and increase capacity utilization. The company is progressing with strategic growth projects, including new EAF capacity, aiming for an incremental EBITDA of $1.8 billion. ArcelorMittal is confident in its prospects for the remainder of the year, anticipating favorable impacts from new policies and strategic investments, supporting its free cash flow outlook and capital return strategy.