SSAB beats quarterly profit forecasts on higher European steel prices
Swedish steelmaker SSAB posted a slightly bigger-than-expected rise in third-quarter operating profit, helped by better steel prices and higher shipments.
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what happened
Swedish steelmaker SSAB said on Wednesday its third-quarter operating profit rose slightly more than analysts had expected. The company credited better steel prices and higher shipments.
Operating earnings reached 2.16 billion Swedish crowns ($217.2 million), up from 1.87 billion a year earlier. Analysts had expected 2.14 billion crowns on average, according to a poll provided by SSAB.
CEO Johnny Sjostrom said the European market is showing signs of a better balance between supply and demand, and prices there improved during the quarter. SSAB Europe lifted shipments of premium steels, and the Special Steels unit also shipped more. Planned maintenance costs rose to 810 million crowns from 390 million a year earlier.
why it matters
European steelmakers have struggled with high energy costs and cheap Asian imports. New EU import restrictions introduced in July and the bloc's carbon border levy could support margins for local producers, which makes SSAB's report a useful read on the wider sector. The profit beat itself was small.
market impact
European steel sector: stronger prices and shipments support producer shares
- SSAB shares pressure up — profit above expectations and higher steel prices in Europe
tags
instruments
sources
- SSAB tops quarterly profit expectations aided by higher steel prices — Reuters, 28 October 2026 at 06:36 UTC
- SSAB tops quarterly profit expectations aided by higher European steel prices — Reuters, 28 October 2026 at 06:50 UTC
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