ArcelorMittal beats first-quarter estimate, bullish on full year

  • The company said outlook for 2018 had improved as the year progressed.
Steelworkers at the ArcelorMittal steel factory in Kryvyi Rih, Ukraine.
Vincent Mundy | Bloomberg | Getty Images
Steelworkers at the ArcelorMittal steel factory in Kryvyi Rih, Ukraine.

The world's largest steelmaker ArcelorMittal reported on Friday higher-than-expected first-quarter earnings, helped by a sharp pick-up in metal prices.

The company said outlook for 2018 had improved as the year progressed.

The company's first-quarter core profit (EBITDA) rose 13 percent year-on-year to $2.51 billion, above the average $2.33 billion expected in a Reuters poll of 10 analysts.