Newco Steel's net profit in the first quarter increased significantly year-on-year and month on month

On April 27th, Newco Steel announced its first quarter operating performance report for 2026. In the first quarter, the company's consolidated net profit attributable to shareholders was $743 million, an increase of 96.6% compared to the previous quarter (adjusted data showed an increase of 85.8% compared to the previous quarter); The year-on-year growth rate was 376.3% (adjusted data showed a year-on-year growth rate of 315.1%), and the overall profit showed a significant accelerated upward trend.

The company stated in the report that the first quarter profit growth was mainly driven by the profit growth of the steel plant business sector. The average selling price and sales volume of all product combinations in this sector have increased. The steel product sector has achieved profitability improvement due to increased sales and stable prices, while the raw material sector has benefited from the increase in average selling price and sales volume.
Leon Topalian, Chairman and CEO of Newco Steel, said, "The steel plant business segment set a new quarterly shipment record, while the other three operating segments achieved quarter on quarter profit growth, thanks to strong demand from key end markets and the cumulative contribution of recent capital investments. In the second quarter, Newco Steel will be committed to implementing growth strategies to create strong returns for shareholders