ArcelorMittal SA said on Thursday that its basic earnings per share (EPS) stood at $2.21 in the second quarter of 2023, plummeting 48% compared to the same period in 2021.
The steel and iron manufacturing corporation's sales fell from $22.1 billion last year to $18.6 billion in the quarter to June this year, while net income tumbled 53% year on year to hit $1.9 million. Operating income amounted to $1.9 billion and EBITDA was $2.6 billion. ArcelorMittal also said its steel shipments fell 1% to 14.2 million metric tonnes.
"We have delivered a strong set of financials in the first half of the year, which reflect the improved market conditions and also the positive impact of recent strategic acquisitions. Both ArcelorMittal Pecém in Brazil and ArcelorMittal Texas HBI in the United States are making a valuable contribution, generating above expected EBITDA," CEO Aditya Mittal said.
