Aperam reports that Q3 EBITDA will fall below Q2, and come in slightly above Q1.
Energy costs are weighing on results, and volumes have leveled off, while European demand remains anemic
published a pre-quiet-period operational update for Q3 2026, confirming that adjusted EBITDA for the quarter is expected to land below the €130 million reported in Q2, though slightly above the €90 million recorded in Q1, with the company-compiled analyst consensus sitting at €113 million.
Compounding the earnings pressure, Aperam flagged that higher energy costs are expected to reduce EBITDA by approximately €20 million per quarter, and that no additional support from valuation effects is anticipated in Q3.
The company also noted that a significant portion of the demand pull-forward that benefited H1 2026 — driven by customers front-loading orders ahead of EU trade protection measures that took effect on July 1 — has already been absorbed, leaving Q3 with limited incremental benefit from that tailwind.
https://www.investing.com/news/stock-market-news/why-is-aperam-stock-falling-today-93CH-4933754