Posco's Profit Slumps as Trump Tariffs Take Effect

By Kwanwoo Jun

Posco Holdings posted lower net profit for the first quarter, dented in part by tariffs the Trump administration imposed on all steel and aluminum imports into the U.S.

The South Korean steelmaker said Thursday that both production and sales of steel goods declined in the wake of repair work at its steel mills, as it faced tough business conditions stemming from the global tariff war and economic uncertainty. Higher steel prices and cost-saving efforts partly helped improve profitability, it said.

Net profit came in at 344.00 billion won, equivalent to $241.0 million, for the January-March quarter, down 43% from a year earlier, the company said. That was largely in line with a FactSet-compiled consensus estimate of 335.93 billion won.

Revenue fell 3.4% to 17.437 trillion won for the quarter, with operating profit down 2.6% at 568.00 billion won.

The stock was 1.1% lower after its earnings release, trimming its gain this year to less than 2%.

Write to Kwanwoo Jun at [e-mail]

(END) Dow Jones Newswires

04-24-25 0259ET