ArcelorMittal Reports Profit For Q3; Reiterates Annual EBITDA Outlook

(RTTNews) - Steel maker ArcelorMittal (MT) Friday reported a profit for the third quarter, compared with loss last year, helped by growth in steel shipments and improvement in operating margin.

ArcelorMittal's CEO Lakshmi Mittal said the company is well placed to achieve annual EBITDA of over $7 billion.

Net earnings were $22 million or $0.01 per share, compared with a loss of $193 million or $0.12 per share a year earlier.

EBITDA totaled $1.9 billion, compared with $1.71 billion a year earlier.

Sales increased to $20.07 billion, from $19.64 billion a year earlier. Steel shipments grew 3.9 percent to 21.5 million metric tonnes, from 20.7 million metric tonnes a year ago.

The company's iron ore output was 15.8 million metric tonnes, up from 14.9 million metric tonnes a year earlier.

The company expects capital spending of around $3.8 billion for 2014.