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ArcelorMittal (MT)
NYSE:MT
Earnings Data
Report Date
Apr 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.87Last Year’s EPS
1.04Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly positive: ArcelorMittal reported materially improved underlying earnings ($6.5bn EBITDA; $121/tonne) and demonstrated that strategic projects and portfolio moves are contributing tangible EBITDA uplift ($0.7bn in 2025 with ~$1.6bn additional expected). Management highlighted strong cash generation ($1.9bn investable cash), sustained shareholder returns (dividend increase to $0.60 and 38% reduction in share count over five years) and supportive trade-policy developments (EU TRQ and CBAM) that improve the medium‑term outlook. Key near-term challenges include Q4 Mexico operational disruptions (recovering in Q1), rising raw-material and CO2 costs, unresolved regulatory nuances around CBAM/ETS, and a legal matter at Ilva that could take years to resolve. Overall, positive operational momentum and strategic clarity outweigh the identifiable near-term headwinds and uncertainties.Company Guidance
Strong EBITDA and Margin Improvement
Reported EBITDA of $6.5 billion in 2025 and $121 EBITDA per tonne shipped, described as almost double the margin at previous cyclical lows, indicating a structurally improved earnings power.
Strategic Projects Driving Earnings
Strategic projects contributed $0.7 billion of new EBITDA in 2025 and management expects an additional ~$1.6 billion of EBITDA from projects in the near future.
Solid Investable Cash Generation
Generated $1.9 billion of investable cash in 2025 (down from $2.0 billion in 2024, approx. -5%), and $23.5 billion of total investable cash flow since 2021.
Progress on Growth and Capacity Expansions
Hazira expansion: current Hazira capacity ~9 mt, ramp to 15 mt (increase of ~66.7%) targeted by 2027; additional greenfield (~8 mt indicative) under study with long-term India target >40 mt. Liberia operations delivered record performance and studies underway to expand rail capacity to support up to 30 mt.
Shareholder Returns and Capital Allocation
Proposed base dividend of $0.60 per share (dividend doubled over the past 5 years) and continued buybacks (share count reduced by 38% over 5 years). Capital allocation policy maintained: minimum 50% of free cash flow returned to shareholders, with buybacks remaining a preferred tool.
Operational and Portfolio Strength
Full consolidation and strengthening of U.S. footprint (Calvert) and record performance in Liberia and build-out of renewables in India. Management highlighted best-in-class operations, an industry-leading R&D program and improved safety KPIs including fatality prevention progress.
Positive 2026 Outlook Supported by Policy Tailwinds
Management expects higher steel production and shipments across all regions in 2026, supported by operational improvements and strengthened trade protections (EU TRQ and CBAM). Confident in continued positive free cash flow generation and disciplined capital allocation.
Clear CapEx Guidance and Renewables / Decarbonization Focus
Maintained ongoing CapEx guidance of $4.5–$5.0 billion. Company is progressing 'economic decarbonization' projects (e.g., Dunkirk EAF) and expanding electrical steel and EAF footprint where economics permit.
MT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 05, 2026 | $55.98 | $57.24 | +2.25% |
Nov 06, 2025 | $37.20 | $37.64 | +1.18% |
Jul 31, 2025 | $32.27 | $31.45 | -2.54% |
Apr 30, 2025 | $29.79 | $29.30 | -1.64% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does ArcelorMittal (MT) report earnings?
ArcelorMittal (MT) is schdueled to report earning on Apr 30, 2026, Before Open (Confirmed).
What is ArcelorMittal (MT) earnings time?
ArcelorMittal (MT) earnings time is at Apr 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MT EPS forecast?
MT EPS forecast for the fiscal quarter 2026 (Q1) is 0.87.