ArcelorMittal Q3 2026 EPS Tops Estimates at $1.15, but Revenue Misses at $16.47B

ArcelorMittal (MT) posted mixed third-quarter 2026 results, with adjusted EPS above the estimate and revenue below it. Revenue was $16.47 billion, up 5.2% from a year earlier, below the $16.93 billion estimate, and adjusted EPS was $1.15, up 85% from a year earlier, above the $0.80 estimate.

Q3 2026 scorecard

By our calculation, revenue was $458.0 million below the estimate and adjusted EPS was $0.35 above it. The QoQ column compares with the previous quarter's revenue of $16.76 billion and adjusted EPS of $0.89. The YoY column compares with $15.66 billion and $0.62 in the same quarter a year earlier.

Track record

• EPS record. Adjusted EPS beat the estimate in 5 of the last 8 reports, including this one.
• Revenue record. Revenue beat the estimate in 2 of the last 8 reports.
• Revenue trend. Revenue over the last 5 reports, oldest first: $15.66 billion, $14.97 billion, $15.46 billion, $16.76 billion and $16.47 billion.

What to watch

• Next-quarter estimates. Consensus calls for EPS of $1.39 and revenue of $18.40 billion next quarter, based on 2 analysts.
• Revenue growth. Whether revenue keeps growing from a year earlier after this quarter's 5.2% increase to $16.47 billion.
• Estimate record. Whether ArcelorMittal extends a record of beating EPS estimates in 5 of its last 8 reports.
• Related coverage. See our reports on SFL, VSE, Allied Gold and Hyperliquid Strategies.

Sources: Results are from ArcelorMittal's Nov. 5, 2026 quarterly report. Estimates are consensus figures. The prior-quarter and year-ago comparison figures are from ArcelorMittal's earlier quarterly reports. Items labeled by our calculation are our own arithmetic. This article is informational only and is not investment advice.