5/6, 7:06 AM (Source: TeleTrader)
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ArcelorMittal Q1 sales at $16.1B, up 9.1% YoY

ArcelorMittal S.A. reported on Thursday its sales for the first quarter of the year increased 9.1% year-on-year to $16.1 billion.

Meanwhile, the company's operating income was $2.6 billion, a significant improvement over the same period last year where the company reported an operating loss of $353 million. The steel manufacturing company recorded a net income of 2.28 billion for this quarter, translating to basic earnings per share of $1.94, a sharp per annum uptake from a net loss of $1.12 billion, correlating to basic loss per share of $1.11.

ArcelorMittal Chief Executive Officer Aditya Mittal stated: "The first quarter of this year has been our strongest in a decade. While this is naturally a very welcome development following a highly challenging 2020, we are mindful that Covid continues to be a health challenge across the world especially in developing economies."

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