Acerinox stock posts EUR 162 million nine-month profit

Acerinox reported a sharp improvement in earnings for the first nine months of 2026, although demand remained weak in several markets. In its October 30 earnings release, the stainless steel producer said profit after tax and minority interests reached EUR 162 million from January through September, compared with EUR 7 million a year earlier.

U.S. business supports quarterly earnings

Group EBITDA increased 46 percent year on year to EUR 470 million. Third-quarter EBITDA reached EUR 199 million, up 13 percent from the second quarter and 85 percent from the same quarter of 2025. Revenue for the first nine months rose 2 percent to EUR 4.56 billion.

The U.S. stainless steel operation North American Stainless remained the main earnings pillar. Acerinox said the U.S. market was more stable, while imports and trade measures supported domestic producers. The company also said European demand had not recovered as expected, despite a 42 percent decline in imports during the first nine months.

CEO Bernardo Velazquez described the results as consistent with the group's strategy in a complex market. He highlighted the resilience of the U.S. business while warning that persistent demand weakness and macroeconomic uncertainty continued to weigh on the broader market environment.

Seasonality clouds the fourth quarter

Acerinox expects fourth-quarter EBITDA to fall below the third-quarter level because of typical year-end seasonality in the United States. Management also expects working capital to decline by year-end, which should reduce net financial debt after the increase recorded through September.

Net financial debt stood at EUR 1.5 billion at the end of the third quarter, EUR 174 million above the previous quarter. The increase reflected a EUR 152 million rise in working capital and a EUR 77 million dividend payment during the quarter. For the full year, Acerinox said it had distributed EUR 155 million to shareholders.

The High Performance Alloys division delivered mixed signals. Aerospace and industrial gas turbine demand improved, while oil and gas and chemical processing remained weak. The division generated EUR 59 million of EBITDA in the first nine months, down from EUR 103 million in the same period of 2025.

Quote remains below recent high

Acerinox stock traded at 16.02 euros on Lang & Schwarz at 09:36 CET on Monday, November 2, 2026. Investors may use the real-time quote of Acerinox stock to follow the latest trading price.

European investors will focus next on the pace of demand recovery, the effect of trade measures and whether seasonal weakness in the U.S. reduces fourth-quarter profitability. Current European market reports provide the broader market context.

More news and analyses on Acerinox stock will track the company's next earnings and market developments.