ArcelorMittal reported Q2 2026 EBITDA of $2.1 billion at $155 per ton, well above historical averages. European EBITDA reached a three-year high of $98 per ton. Strategic growth projects are expected to add $1.8 billion in EBITDA. The company returned $0.7 billion to shareholders in the first half. Net debt stood at $9.5 billion with liquidity of $10.4 billion.