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

Ethan Bernard is a reporter and editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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