ArcelorMittal Q2 earnings beat expectations, buys Brazil’s CSP

2022.07.28 09:10

FILE PHOTO: The logo of ArcelorMittal is pictured in front of heat rising from a red-hot steel plate at the ArcelorMittal steel plant in Ghent, Belgium, July 7, 2016. REUTERS/Francois Lenoir/

BRUSSELS (Reuters) – ArcelorMittal (NYSE:MT), the world’s second-largest steelmaker, reported higher than expected second-quarter earnings on Thursday helped by sharply higher prices and announced it had agreed to pay $2.2 billion for Brazilian peer CSP.

The Luxembourg-based company said second-quarter core profit (EBITDA), the figure most watched by the market, was $5.16 billion, higher than the average forecast in a company poll of $5.09 billion.

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