ArcelorMittal (MT)
NYSE:MT
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Earnings Data
Report Date
Jul 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.21Last Year’s EPS
2.34Same Quarter Last Year
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple clear positives: structurally stronger margins (EBITDA $131/tonne; +$15/tonne YoY), a >$2bn annualized underlying free cash flow run‑rate, a defined pipeline of high‑return EAF projects totalling $1.8bn incremental EBITDA from 2026, and supportive trade policy developments in Europe (CBAM and TRQ) that management expects to lift prices and domestic demand. Operational momentum was highlighted across iron ore, EAF ramp (Calvert) and capacity restarts, alongside sustained shareholder return achievements (38% share count reduction; dividend doubled). Headwinds include elevated short‑term European imports/inventories, Q1 Ukraine losses from energy costs, increasing CO2 costs not yet offset in results, a recalibrated 2030 emissions target (-10% vs prior -30%), and persistent North American tariff headwinds. On balance the highlights materially outweigh the lowlights, with management signaling improving visibility into free cash flow and margin recovery for the rest of 2026.Company Guidance
Strong Q1 EBITDA per Tonne
Reported EBITDA of $131/tonne in Q1, up $15/tonne year‑on‑year and ~50% higher than the company's historical average margins, indicating structural earnings improvement.
Robust Underlying Free Cash Flow Run‑Rate
Underlying free cash flow (ex‑seasonal working capital and strategic growth CapEx) annualizing at over $2.0 billion, supporting the company’s cash return framework and investment capacity.
Incremental EBITDA from Strategic EAF Projects
Approved EAF projects (Sestao, Gijón, Dunkirk) together expected to contribute an incremental $1.8 billion of EBITDA from 2026 onwards; Dunkirk enabled by a competitive long‑term energy contract and French government support.
Positive Trade Policy Momentum in Europe
European trade measures progressing: CBAM already in place and the new Tariff Rate Quota (TRQ) tool expected from 1 July 2026. Management cites a ~EUR100 uplift in the price index since CBAM introduction and sees stronger customer engagement and order inquiries.
Operational Improvements and Capacity Readiness
Restart activity underway — large furnaces in France and Poland (~2+ Mt each) being prepared/partially ramped; Calvert EAF ramp progressing (20–25% in Q1, materially higher by end of Q2) with expectation to largely complete ramp by year‑end.
Iron Ore Production Guidance and Momentum
Record production/shipment quarter in Liberia in Q1; management targets at least 80 Mt shipments for the year with full capacity expected in H2 and continued improvement through the rainy season.
Safety Transformation and Digital Tools
Multiyear safety program delivering improved outcomes, expanded process safety and use of advanced analytics/AI for early hazard detection — tangible improvements documented in the recent sustainability report.
Shareholder Returns Track Record
Over the past 5 years the company has reduced share count by 38% and doubled the dividend (100% increase), maintaining an investment‑grade balance sheet and a stated commitment to continue capital returns once free cash flow visibility is confirmed.
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 |
|---|---|---|---|
Apr 30, 2026 | $55.80 | $57.09 | +2.31% |
Feb 05, 2026 | $55.75 | $57.01 | +2.25% |
Nov 06, 2025 | $37.05 | $37.49 | +1.17% |
Jul 31, 2025 | $32.14 | $31.32 | -2.56% |
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 Jul 30, 2026, Before Open (Confirmed).
What is ArcelorMittal (MT) earnings time?
ArcelorMittal (MT) earnings time is at Jul 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 (Q2) is 1.21.