ArcelorMittal posts $391 million Q3 loss after Ukraine shutdown

ArcelorMittal (NYSE:MT) reported a $391 million net loss for the third quarter of 2026 after recording charges related to the suspension of its Ukrainian steel operations, reversing its $683 million profit in the previous quarter.

Sales declined 1.8% sequentially to $16.466 billion from $16.761 billion, while EBITDA fell to $2.023 billion from $2.064 billion but remained above the $1.508 billion recorded a year earlier.

The company recorded $852 million in impairment charges and $293 million in exceptional charges linked to its Ukrainian operations, alongside a $170 million reduction in deferred tax assets, while liquidity stood at $8.7 billion.

ArcelorMittal expects its $2.5 billion working capital investment during the first nine months to largely unwind in the fourth quarter, maintains 2026 capital expenditure guidance of $4.5 billion–$5 billion, and forecasts double-digit annual growth in European flat steel shipments.

ArcelorMittal operates an integrated steel and mining business serving automotive, construction, engineering and machinery customers, with production operations across multiple regions and investments in strategic growth projects.

Its European operations are benefiting from changes to EU steel import protections, while its growth strategy includes investments in higher-margin steel products, mining capacity and potential additional electric arc furnace capacity in North America.