The Luxembourg-based steelmaker, described as the world’s second-largest, posted earnings before interest, taxes, depreciation and amortisation of $2.02 billion for the quarter.

That result was higher than the average analyst forecast of $1.96 billion in an LSEG poll, according to Reuters.

Higher European steel shipments contributed to the company’s performance during the quarter, Reuters reported.

Source: Reuters, as reported by AOL.com