BRUSSELS (Reuters) – ArcelorMittal, the world’s second largest steelmaker, on Thursday reported higher than expected third-quarter earnings as cost cutting and energy savings offset declining demand.
The Luxembourg-based company said third-quarter core profit (EBITDA), the figure most watched by the market, was $2.7 billion, which was less than half the year-ago figure, but higher than the average forecast in a company poll of $2.34 billion.
(Reporting by Marine Strauss and Bart Meijer; Editing by Muralikumar Anantharaman)
