ArcelorMittal shares among the biggest gainers on the CAC 40 after its results
The steelmaker moves to the top of the Paris market, in a rising market. The move coincides with the publication of its third-quarter results, marked by a net loss linked to Ukraine.
A net loss of $391 million weighed down by the shutdown of the Ukrainian site
ArcelorMittal reports a net loss of $391 million for the third quarter this Thursday, compared with a profit of $377 million a year earlier.
The gap is due to the shutdown of its Kryvyi Rih site, which cost $852 million in impairments and $293 million in exceptional charges. Excluding these items, adjusted net income rose to $868 million, compared with $474 million.
Basic adjusted EPS reached $1.15, above the $0.99 expected by analysts, and EBITDA rose 34% to $2,023 million, against a consensus of $1,972 million. Only revenue, at $16.47 billion, remained below the $16.88 billion anticipated.
The group describes itself as “very positive” about the future, with second-half shipments expected to be higher than those of the first half. During the session, ArcelorMittal shares gained 3.99% to €57.32, while the CAC 40 rose 0.77%.
Shares back above their MM20 and MM200, but below their MM50
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The stock trades 3.5% above its MM20, at €55.39, and 3% above its MM200, at €55.63. It remains, however, 3.8% below its MM50, at €59.60. This rebound follows an 11% decline over three months, while the gain over seven days reaches 7.1%.
The RSI at 53 remains neutral. The support at €52.82 was broken at the end of October, and resistance is located at €62. Brent crude, at $96.31 a barrel, has fallen 13% over nine sessions.
« Looking ahead, we remain very positive. » ; « Outlook across the near, medium and long term remains positive »
Risks mentioned
Ukraine operations idled following multiple missile strikes with safety and logistical challenges; future cash spend expected to be limited
Temporary $2.5bn working capital investment during 9M 2026 creating near-term cash drag, though expected to unwind in 4Q
Weather disruption in Liberian mining and lagged benefit of higher steel prices yet to be reflected in Europe segment results
Opportunities identified
Enhanced EU trade measures beginning to rebalance European steel market fundamentals with all European blast furnaces back in operation
Strategic growth projects (3.9Mt EAF capacity by 2029 in Europe, Liberia ramp-up) supporting medium to long-term earnings growth
Group shipments in 2H 2026 expected to exceed 1H 2026; flat shipment growth expected to accelerate in 4Q with double-digit year-on-year increase
Outlook / guidance
Management commentary: The 9M 2026 investment in working capital of $2.5bn is expected to largely unwind in 4Q 2026, supporting a healthy cash generation and continued returns to shareholders and lower net debt.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
