Steel Mills
Algoma changing fiscal year end to Dec. 31
Written by Ethan Bernard
November 8, 2024
Canada’ Algoma Steel has announced a change in its fiscal year end from March 31 to Dec. 31.
The Sault Ste. Marie-based steelmaker said its current fiscal year will end on Dec. 31, 2024. This will result in a nine-month reporting period from April 1, 2024, to Dec. 31, 2024.
“This change is being made to better align Algoma’s reporting calendar with other companies in the industry,” the company said in its fiscal Q2’25 earnings release on Wednesday.
Algoma plans to give reclassified historical financial information in the first quarter of 2025. It said this will assist investors “in evaluating the impact the change in fiscal year will have on the reported annual operating results for the years ending Dec. 31, 2023, and 2024.”
Ethan Bernard
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