ArcelorMittal Q3 2026 analyst consensus: $1.97B EBITDA
Adjusted net income and earnings-per-share estimates exclude anticipated non-cash charges related to idling ArcelorMittal Kryvyi Rih.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
6-K
Rhea-AI Filing Summary
ArcelorMittal published third-quarter 2026 sell-side analyst consensus estimates of $1.972 billion EBITDA, $652 million adjusted net income and $0.84 adjusted earnings per share. These are third-party estimates aggregated by Visible Alpha, not company forecasts. The estimates were dated October 30, 2026, and 12 brokers had updated estimates in the tool.
The adjusted net income and adjusted EPS consensus excludes anticipated non-cash charges related to idling ArcelorMittal Kryvyi Rih in Ukraine, announced September 25, 2026. Analysts marked with ** had not yet appropriately updated estimates to reflect the impairment and were excluded from those two adjusted consensus figures.
Key Figures
EBITDA: $1.972 billion
Adjusted net income: $652 million
Adjusted earnings per share: $0.84 per share
+1 more
4 metrics
EBITDA
$1.972 billion
Third-quarter 2026 sell-side consensus estimate
Adjusted net income
$652 million
Third-quarter 2026 sell-side consensus estimate
Adjusted earnings per share
$0.84 per share
Third-quarter 2026 sell-side consensus estimate
Participating brokers
12 brokers
Brokers with updated estimates in Visible Alpha
Key Terms
sell-side analyst consensus figures, EBITDA, adjusted net income, adjusted earnings per share, +1 more
5 terms
sell-side analyst consensus figures financial
"third quarter 2026 sell-side analyst consensus figures"
EBITDA financial
"EBITDA ($m)"
EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.
adjusted net income financial
"Adjusted net income ($m)"
Adjusted net income is a company's reported profit after removing unusual, one-time, or non-operational items so the number reflects the business’s regular earning power. Investors use it like a cleaned-up scorecard — similar to judging a player’s season performance without a few fluke games — to compare companies or assess trends without being misled by rare gains or losses that won’t affect future cash flow.
non-cash charges financial
"anticipated non-cash charges related to the idling"
Non-cash charges are accounting entries that reduce reported profit without any immediate cash leaving the company, such as depreciation (spreading the cost of equipment over time), amortization (spreading intangible costs), share-based pay, or write-downs when an asset loses value. They matter to investors because they can make earnings look weaker even though the business still generates cash; comparing profits with cash flow helps reveal the company’s true financial strength, like accounting for a car’s wear-and-tear without paying for repairs today.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What are ArcelorMittal's Q3 2026 analyst consensus estimates?
The estimates are $1.972 billion EBITDA, $652 million adjusted net income and $0.84 adjusted earnings per share. They are third-party sell-side analyst estimates aggregated by Visible Alpha.
What does ArcelorMittal's adjusted Q3 2026 consensus exclude?
The adjusted net income and adjusted earnings-per-share consensus excludes anticipated non-cash charges related to idling ArcelorMittal Kryvyi Rih in Ukraine, announced September 25, 2026. Analysts marked with ** were excluded from those two adjusted consensus figures because their estimates had not yet appropriately reflected the impairment.
How were ArcelorMittal's Q3 2026 consensus estimates compiled?
Visible Alpha aggregated estimates from sell-side analysts who cover ArcelorMittal on a continuous basis. The analysts follow the company on their own initiative, and ArcelorMittal states it was not involved in collecting or compiling the estimates.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
—————————
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
—————————
Dated November 2, 2026
Commission File Number: 001-35788
ARCELORMITTAL
(Translation of registrant’s name into English)
24-26, Boulevard d’Avranches
L-1160 Luxembourg
Grand Duchy of Luxembourg
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☑ Form 40-F ☐
On November 2, 2026, ArcelorMittal published the press release attached hereto as Exhibit 99.1 and hereby incorporated by reference into this report on Form 6-K.
Exhibit Index
| Exhibit No. | Description | ||||
Exhibit 99.1 | ArcelorMittal announces the publication of its third quarter 2026 sell-side analyst consensus figures | ||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
ARCELORMITTAL
Date 2 November 2026
By: /s/ Henk Scheffer
Name: Henk Scheffer
Title: Company Secretary & Group Compliance & Data Protection Officer
Exhibit 99.1
press release
ArcelorMittal announces the publication of its third quarter 2026 sell-side analyst consensus figures
2 November 2026, 13:30 CET
ArcelorMittal (‘the Company’) today announces the publication of its third quarter 2026 sell-side analyst consensus figures.
The consensus figures are based on analysts’ estimates recorded on an external web-based tool provided and managed by an independent company, Visible Alpha.
To arrive at the consensus figures below, Visible Alpha has aggregated the expectations of sell-side analysts who, to the best of our knowledge, cover ArcelorMittal on a continuous basis. The listed sell-side analysts follow ArcelorMittal on their own initiative and ArcelorMittal is not responsible for their views. ArcelorMittal is neither involved in the collection of the information nor in the compilation of the estimates.
3Q’26 consensus estimates:
3Q’26 | |||||
•EBITDA ($m) | $1,972 | ||||
•Adjusted net income* ($m) | $652 | ||||
•Adjusted earnings per share* ($) | $0.84 | ||||
* Adjusted net income and adjusted earnings per share excludes the anticipated non-cash charges related to the idling of ArcelorMittal Kryvyi Rih (Ukraine), as announced on September 25, 2026 (https://corporate.arcelormittal.com/media/news/regulatory-news/arcelormittal-announces-that-it-is-unable-to-safely-and-sustainably-restart-operations-at-arcelormittal-kryvyi-rih-following-multiple-recent-missile-strikes).
Equity analyst contributing to consensus:
Sell-side analyst participation of 12 brokers (i.e., those with updated estimates in Visible Alpha). The sell-side analysts who cover ArcelorMittal and whose estimates are included in the 3Q’26 consensus outlined above are the following:
1.Bank of America – Reinhardt Van Der Walt**
2.CITI – Ephrem Ravi, Krishan Agarwal
3.Deutsche Bank – Bastian Synagowitz
4.Goldman Sachs – Matt Greene
5.ING – Stijn Demeester**
6.Jefferies – Cole Hathorn
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7.Kepler – Boris Bourdet
8.Keybanc – Samuel Mckinney**
9.Morgan Stanley – Alain Gabriel
10.Oddo – Maxime Kogge
11.UBS – Andrew Jones
12.Wells Fargo – Timna Tanners**
**Analysts whose estimates have not yet been appropriately updated to reflect the previously announced Ukraine impairment have been excluded from the adjusted net income and adjusted EPS consensus.
Disclaimer
Estimates based on Visible Alpha consensus dated 30.10.26. The disclaimer is:
The information provided by Visible Alpha cited herein is provided “as is” and “as available” without warranty of any kind. Use of any Visible Alpha data is at a user’s own risk and Visible Alpha disclaims any liability for use of the Visible Alpha data. Although the information is obtained or compiled from reliable sources Visible Alpha neither can nor does guarantee or make any representation or warranty, either express or implied, as to the accuracy, validity, sequence, timeliness, completeness or continued availability of any information or data, including third-party content, made available herein. In no event shall Visible Alpha be liable for any decision made or action or inaction taken in reliance on any information or data, including third-party content. Visible Alpha further explicitly disclaims, to the fullest extent permitted by applicable law, any warranty of any kind, whether express or implied, including warranties of merchantability, fitness for a particular purpose and non-infringement.
The consensus estimate is based on estimates, forecasts and predictions made by third party financial analysts, as described above. It is not prepared based on information provided or checked by ArcelorMittal and can only be seen as a consensus view on ArcelorMittal's results from an outside perspective. ArcelorMittal has not provided input on these forecasts, except by referring to past publicly disclosed information. ArcelorMittal does not accept any responsibility for the quality or accuracy of any individual forecast or estimate. This web page may contain forward-looking statements based on current assumptions and forecasts made by ArcelorMittal or third parties. Various known and unknown risks, uncertainties and other factors could lead to material differences between ArcelorMittal's actual future results, financial situation, development or performance, and the estimates given here. These factors include those discussed in ArcelorMittal's periodic reports available on http://corporate.arcelormittal.com/.
ENDS
About ArcelorMittal
ArcelorMittal is one of the world’s leading integrated steel and mining companies with a presence in 60 countries and primary steelmaking operations in 14 countries. It is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. ArcelorMittal sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2025 generated revenues of $61.4 billion, produced 55.6 million metric tonnes of crude steel and 48.8 million tonnes of iron ore. Our purpose is to produce smarter steels for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for the renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
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http://corporate.arcelormittal.com/
ArcelorMittal Investor Relations contact information | |||||
General | +44 20 7543 1128 | ||||
Retail | +44 20 3214 2893 | ||||
Bonds/Credit | +33 157 955 035 | ||||
ArcelorMittal Corporate Communications contact information | |||||
Paul Weigh | |||||
Tel: | +44 20 3214 2419 | ||||
E-mail | press@arcelormittal.com | ||||
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