Steel Mills
November 1, 2018
ArcelorMittal Earnings Fall in Q3
Written by Sandy Williams
ArcelorMittal Group third-quarter net income dropped by nearly half to $0.9 billion from $1.9 billion in the second quarter and declined 25 percent from $1.2 billion a year ago. EBITDA fell 11.2 percent from the second quarter to $1.7 billion due primarily to lower steel shipments and high inflation rates in Argentina, the company said in its third-quarter earnings report.
Crude steel production rose 0.5 percent to 23.3 million metric tons, while steel shipments fell 5.5 percent to 20.5 million tons.
