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ArcelorMittal Q3 net loss $261 million

Christian Fernsby |
ArcelorMittal on Thursday recorded that its third quarter net loss attributable to equity holders of the parent was $261 million, narrower than net loss of $539 million in the previous year quarter.

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Operating income for the quarter grew to $718 million from $297 million in the year ago quarter.

The company noted that the improved operating performance reflected a gradual recovery in steel end markets, in particular automotive.

following the severe impacts of coronavirus lockdowns on economic activity in the preceding second quarter, as well as stronger mining segment performance.

However, sales for the quarter declined to $13.27 billion from $16.63 billion last year.

Total steel shipments in the quarter decreased to 17.5 million tonnes from 20.2 million tonnes last year.

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