ArcelorMittal's Q2 sales rise 14.47% to $22.14B

Thursday, 28. July 2022 07:04

ArcelorMittal SA announced on Thursday that its sales in the second quarter of 2022 observed an annual increase of 14.47% to hit $22.14 billion. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) went up by 2.2% in comparison to the same period in 2021 to reach $5.16 billion. Its operating income advanced by 1.4% year-on-year to $4.49 billion. Meanwhile, its diluted earnings per share (EPS) gained 22.54% on an annual basis to climb to $4.24 per share.

In the first half of the year, ArcelorMittal's sales expanded by 23.76% to come in at $43.98 billion. The enterprise's operating income rose by 26.21% to stand at $8.93 billion. Its EBITDA saw annual growth of 23.5% to $10.24 billion. Its diluted EPS soared by 57.88% year-on-year to reach $8.51 per share.

"The Company had a strong first half with market conditions supporting a fifth consecutive quarter of EBITDA of over $5 billion. [...] The period, however, was overshadowed by the outbreak of war in Ukraine. [...] Despite the more uncertain global macro outlook, our business is well positioned to effectively manage through the cycle," ArcelorMittal Chief Executive Officer (CEO) Aditya Mittal remarked.

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Author:
Baha Breaking News (BBN) / JR