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
Read more from Ethan BernardLatest in Steel Mills
U.S. Steel sues Algoma over iron pellet shipments
U.S. Steel is suing Algoma over the Canadian flat-rolled producer's rejection of iron pellet shipments, arguing it has breached its contract.
August US mill shipments slip but still higher than last year
The American Iron and Steel Institute reported a decline in the monthly shipments of US mills from July to August.
TransPod, Algoma, Supreme Steel linkup anchors Canadian steel in high-speed transit build
The three Canadian companies have announced a strategic partnership to support the development of an ultra-high-speed transit line from Edmonton to Calgary.
Metallus, USW agree to tentative four-year labor deal
Metallus and the United Steelworkers (USW) have agreed to a tentative four-year labor contract.
ArcelorMittal Dofasco resumes cokemaking after emergency maintenance
The Canadian steelmaker reported on Sept. 30 that “urgent maintenance” was needed in its coke plant off-gas systems. The work required coke oven gas from the No. 2 coke plant to be flared for most of that week.