ArcelorMittal Q2 net income drops 62% YoY to $683 mn; sales rise

ArcelorMittal on Thursday posted a about 62 per cent year-on-year fall in its net income to USD 683 million in the June 2026 quarter.

The company, which also has a significant presence in India, had reported a net income of USD 1,793 million in the second quarter of 2025.

However, on a quarter-on-quarter basis, the company's net income in April-June was around 19 per cent higher than USD 575 million in January-March or the first quarter of 2026, driven by sales growth.

Luxembourg-headquartered ArcelorMittal follows January to December as its financial year.

In the second quarter, its sales rose to USD 16.8 billion from 15.9 billion in April-June 2025.

On a quarter-on-quarter basis, sales increased by 8.4 per cent compared to USD 15.5 billion in Q1 2026, reflecting 4.4 per cent higher average steel prices and a 4.1 per cent increase in steel shipments.

Crude steel production was at 14.3 million tonne, marginally lower from 14.4 MT in the second quarter last year, but higher than 13.3 MT in the preceding quarter.

On a year-on-year basis, steel shipments were down at 13.4 MT during April-June, but higher than 13.3 MT in January-March 2026.

Aditya Mittal, ArcelorMittal Chief Executive Officer, said, "Today's results, with second quarter EBITDA per tonne of USD 155, demonstrate the continued evolution of our business towards structurally higher levels of profitability".

He said the implementation of the new tariff rate quota alongside CBAM (carbon border adjustment mechanism) is creating a more balanced competitive environment.

ArcelorMittal owns a 60 per cent stake in ArcelorMittal Nippon Steel India (AMNS India), a key steel-making entity in India. The remaining stake is held by Japan-based Nippon Steel.

In India, the company said income from associates, joint ventures and other investments increased to USD 229 million in the second quarter of 2026 compared to USD 177 million in Q1 2026, due to stronger AMNS India results.

AMNS India EBITDA increased to USD 257 million in Q2 2026 against USD 195 million in Q1 2026 due to a positive price-cost effect.

Its sales increased by 2.4 per cent to USD 1.7 billion in Q2 2026 from USD 1.6 billion in Q1 2026, driven by higher average steel selling prices.

In April-June 2025, EBITDA was at 200 million and sales at USD 1.4 billion.