Earnings ·
Algoma Steel Group Inc. reported a net loss of C$96.0 million for Q2 2026, narrowing from C$110.6 million in the…
ASTLWAlgoma Steel Group Inc.
Algoma Steel Group Inc. reported a net loss of C$96.0 million for Q2 2026, narrowing from C$110.6 million in the prior-year period, driven by a C$45.0 million insurance settlement and foreign exchange gains. Revenue fell to C$267.5 million as shipments dropped 61.6% to 181,473 tons due to the permanent halt of blast furnace operations and 50% U.S. Section 232 tariffs. Adjusted EBITDA turned positive at C$13.8 million (5.2% margin), supported by record plate sales and a pivot to a Canada-centric strategy. The company maintains approximately C$437 million in liquidity, including C$124.5 million in recent governmental loan advances under the LETL Facilities. Construction of the second Electric Arc Furnace unit is nearing completion with first steel production expected in Q3 2026. Algoma Steel Group Inc. operates as a Canadian producer of high-quality plate and sheet steel products.