ArcelorMittal publishes Q3 2026 conference call transcript
MT•ArcelorMittal reported third-quarter EBITDA of $2 billion, up 34% year over year, and EBITDA per tonne of $155. Management expects fourth-quarter European flat-product shipments to grow at a double-digit annual rate and is considering buybacks above the policy minimum of 50% of free cash flow.
1. Results and outlook
ArcelorMittal held its third-quarter 2026 earnings call on November 5, featuring CFO Genuino Christino and Head of Investor Relations Daniel Fairclough. EBITDA rose 34% year over year to $2 billion, while EBITDA per tonne increased by $44 to $155. Management expects fourth-quarter European flat-product shipments to grow at a double-digit annual rate as lower imports boost domestic orders. Executives said full benefits from the European trade framework should emerge in 2027, with annual contracts covering approximately 25% of flat-product volumes set to reprice. They are considering share buybacks above the policy minimum of 50% of free cash flow; annual capital spending remains pegged at $4.5 billion–$5 billion.
