Daily Management Review

ArcelorMittal's net profit falls by 17 percent in January-September


In the first three quarters of 2022, the steel giant ArcelorMittal's net income attributable to shareholders of its parent company decreased 17% year over year to $9.041 billion, the firm reported.

Nikolay Olkhovoy
Nikolay Olkhovoy
The earnings per share decreased from $9.52 a year ago to $9.76 now, while revenue rose up 13% to $62.953 billion.

Compared to the same period last year, ArcelorMittal's third-quarter net income was $993 million, a decrease of 4.7 times. After earnings of $4.17, earnings per share were $1.11. The business's quarterly revenue fell by 6% to $18.975 billion.

For the period of January through September of this year, the company's iron ore production fell by 8% to 34.6 million tons. The company produced 10.6 million tons of ore in the third quarter, an 18% decrease from the same period last year.

source: reuters.com