Published by Global Banking & Finance Review®
Posted on October 31, 2025
2 min readLast updated: January 21, 2026
Add as preferred source on GoogleAcerinox's Q3 profits fell short due to low demand in the US and Europe. Despite US tariffs aiding business, trade uncertainty and supply-chain issues impacted results.
(Reuters) -Spanish steelmaker Acerinox reported slightly weaker than expected third-quarter earnings on Friday, citing low demand for stainless steel in the U.S. and Europe.
Its adjusted earnings before interest, taxes, depreciation and amortisation came in at 108 million euros ($125.95 million), missing analysts' average estimate of 112 million euros, according to data compiled by LSEG.
According to the steelmaker, sales in the U.S. will "undoubtedly" fall in the fourth quarter due to year-end seasonality, and core-profits will therefore be lower than in the third quarter.
Though the company said the U.S. 50% tariffs on steel imports were helping its business there, it also pointed to negative aspects of the trade-related uncertainty.
"The prevailing mood of reserve and caution has continued, in which major distributors have only replenished what they have sold, awaiting greater clarity on the economic future," Acerinox said in a statement.
Even though Acerinox should benefit from a push towards protectionism in both of its main markets, a mix of increased uncertainty, supply-chain disruptions and companies deferring purchases and investments has hit the company's results.
The company is set to benefit from the European Commission's recently announced import quotas, as prices in Europe have slumped due to what European steelmakers denounce as global overcapacity and cheap imports from Asia.
($1 = 0.8575 euros)
(Reporting by Javi West Larrañaga; Editing by Anna Pruchnicka)
EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure used to analyze a company's operating performance without the impact of financing and accounting decisions.
Stainless steel is a type of steel alloy that contains chromium, which makes it resistant to rust and corrosion. It is commonly used in various industries, including construction and manufacturing.
Trade-related uncertainty refers to the unpredictability in trade policies and regulations that can affect businesses' decisions regarding imports, exports, and investments.
Core profit refers to the profit generated from a company's primary business operations, excluding any income from non-operational activities or one-time events.
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