Photo courtesy of ArcelorMittal
Luxembourg-based steelmaker and iron mining firm ArcelorMittal has reported second-quarter 2025 adjusted net income of slightly more than $1 billion, marking a nearly $200 million increase compared with $805 million in the first quarter.
The company’s sales increased from about $14.8 billion in the first quarter of this year to more than $15.9 billion in the April-through-June period.
The $1 billion income figure for this year’s second quarter means ArcelorMittal has increased its adjusted net income in the first six months of 2025 by more than 26 percent compared with the first half of 2024.
“As anticipated, we saw an improved quarter, with earnings before interest, taxes, depreciation and amortization [EBITDA] per metric ton reaching a healthy $135,” ArcelorMittal CEO Aditya Mittal says. “The underlying strength of the business is good, but like every company, we must navigate the backdrop of ongoing geopolitical and tariff disruptions.”
Mittal says the company’s global footprint is a strength in the current trade climate, singling out the firm’s recent purchase of the remaining half of a recycled-content electric arc furnace (EAF) mill in Calvert, Alabama. That purchase was tied to the U.S. Steel-Nippon Steel merger completed in this year’s second quarter.
“Our primary focus is always to meet the requirements of the domestic markets, and our ability to produce high-quality melted and poured steels in the U.S. was strengthened in the quarter as we took full ownership of Calvert,” Mittal says.
“We have transformed Calvert from an advanced finishing operation into a low-carbon steelmaking facility capable of producing the highest quality steels for all customer segments, including automotive. Calvert will become a new center of excellence for ArcelorMittal in the United States.”
In North America, the company’s financial results were helped by accounting aspects of that transaction.
ArcelorMittal's operating income in the region during this year’s second quarter increased to $1.8 billion, largely due to a $1.7 billion exceptional gain from the acquisition of Nippon Steel’s 50 percent stake in ArcelorMittal/Nippon Steel Calvert.
“Underlying operating performance declined, primarily reflecting the additional costs imposed on the business by Section 232 tariffs (which were further increased to 50 percent from June 4, 2025) as well as the impact of unplanned maintenance in Mexico (approximately $40 million) and the impacts of weaker apparent demand on shipment volumes," the company adds.
In its 17-page news release displaying its financial reports for the quarter and commenting on them, ArcelorMittal says ongoing tariff headwinds are a potential drain on steel demand and the company’s earnings.
“Section 232 tariffs have also increased costs and negatively impacted the supply/demand balance in [the] Canada and Mexico markets,” ArcelorMittal says.
“Further contributions from strategic growth projects and Calvert consolidation should support second half 2025 profitability, which will face increased headwinds from Section 232 tariffs and impacts of seasonality.”