ArcelorMittal’s Q1 Earnings Lifted by Strength in North America

The most recent cycle of destocking has ended, ArcelorMittal said, with first-quarter sales and shipments rising notably from the prior quarter, boosted by strength in the North American region. Those figures remain lower, however, compared to highs seen in the year-ago quarter.

The Luxembourg-based global steelmaking giant posted Q1 net income of $1.096 billion, a substantial increase from Q4’22 net income of $261 million, but down from $4.125 billion in Q1’22. Sales of $18.5 billion were up 9.5% sequentially but down 15% year over year (YoY).

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held various editorial positions with steel industry publications, associations, and mills since 2007. She joined the SMU team in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania.

Laura Miller

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