ArcelorMittal, the Luxembourg-based steel and mining giant, reported a significant increase in net profit for the second quarter of this year, despite lower sales, production, and shipment volumes.
According to the German Press Agency (dpa), net profit attributable to shareholders surged to $1.79 billion, up from $504 million in the same period last year.
Basic earnings per share (EPS) climbed to $2.35, compared to $0.63 in the second quarter of 2024. This sharp increase was partly driven by exceptional gains totaling $0.8 billion, which had a positive impact on the company’s financial performance.
Adjusted net income reached approximately $1.01 billion, or $1.32 per share, up from $677 million, or $0.85 per share, in the same quarter last year.
Meanwhile, earnings before interest, taxes, depreciation, and amortization (EBITDA) dipped slightly to $1.86 billion, compared to $1.862 billion a year earlier.
Total sales also declined, amounting to $15.93 billion, down from $16.25 billion in the second quarter of 2024.
