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Algoma Steel expects Q3 Adjusted EBITDA loss of $10M-$20M as shipments hit 145,000 tons
ASTLAlgoma Steel Group Inc.
Algoma Steel Group Inc. provided guidance for the third quarter ended September 30, 2026, expecting total steel shipments of approximately 145,000 tons and an Adjusted EBITDA loss between negative $10 million and negative $20 million in Canadian dollars. The negative EBITDA range includes a benefit from an expected capacity utilization adjustment of approximately $50 million to $55 million. Management cited lower shipment volumes and an unfavorable sales mix due to a temporary outage at the Lake Superior Power turbine, which constrained Electric Arc Furnace production. The company has installed a replacement turbine and is operating at full power, with plans to resume production from EAF Unit Two in the fourth quarter following successful equipment testing. Algoma Steel Group Inc. operates in the steel manufacturing industry, producing plate and hot rolled sheet products.