Steel Giant Reports Decline in Quarterly Earnings

ArcelorMittal, the world's leading steel and mining company, announced its first-quarter sales for 2025 at $14.8 billion, marking a 9% decrease from the $16.3 billion reported in the same period last year. This downturn is attributed to weaker steel prices and a subdued global demand.

Financial Performance Highlights

The company's net income saw a 14% year-on-year drop to $805 million, down from $938 million in Q1 2024. Basic earnings per share also fell by 9.5% to $1.05, compared to $1.16 in the previous year. EBITDA experienced a significant decline of 19%, settling at $1.6 billion from $2 billion a year earlier.

Resilience in a Challenging Market

Despite these challenges, ArcelorMittal highlighted its operational resilience, particularly in Liberia and North America, which have supported its margins. The company remains committed to its strategic investment plans and capital return policy, signaling confidence in its long-term growth strategy amidst market uncertainties.