ArcelorMittal SA (MT) shares tumbled 5.03% in pre-market trading on Wednesday following the release of its first-quarter 2025 earnings report. Despite beating analyst expectations, the global steel giant's year-over-year declines and cautious outlook on global trade uncertainties weighed heavily on investor sentiment.

The Luxembourg-based steelmaker reported a net income of $805 million for Q1 2025, down from $938 million in the same period last year. Sales fell 9% year-over-year to $14.8 billion, while EBITDA decreased to $1.58 billion from $1.96 billion a year ago. However, these results surpassed analyst forecasts, with the consensus expecting $504 million in net profit and $1.55 billion in EBITDA.

While ArcelorMittal maintained its full-year guidance, the company highlighted increasing uncertainty regarding global trade, which it said was hurting business confidence and risking further economic disruption. This cautious outlook, combined with mixed regional performances – including challenges in Europe and Brazil despite improvements in North America – appears to have overshadowed the earnings beat, leading to the significant pre-market decline.