Algoma Steel Group Earnings Call Transcripts
Fiscal Year 2026
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Transition to electric arc furnace operations drove a challenging but strategically pivotal Q1 2026, with record plate sales, improved pricing, and a path to breakeven EBITDA by year-end. Liquidity remains strong, and strategic initiatives reinforce long-term growth.
Fiscal Year 2025
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Q4 and full year 2025 saw significant losses due to U.S. tariffs, lower shipments, and operational transition, but the EAF ramp-up and strategic pivot to the Canadian market are progressing. Plate products remain a bright spot, and liquidity is strong for ongoing transformation.
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Q3 2025 saw a CAD 87.1M Adjusted EBITDA loss and a CAD 485.1M net loss, driven by U.S. tariffs, lower shipments, and a CAD 503M impairment. The company is accelerating its EAF transition, secured CAD 500M in government support, and expects significant working capital and tax inflows next year.
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Q2 2025 saw a net loss of CAD 110.6 million and adjusted EBITDA loss of CAD 32.4 million amid severe U.S. tariffs and weak steel markets. The company achieved first steel from its EAF project, maintained strong liquidity, and is actively seeking government support while focusing on domestic market opportunities.
Fiscal Year 2024
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Q4 and FY2024 results were impacted by operational disruptions, but plate mill upgrades and EAF project progress position the company for improved production and margins. Liquidity remains strong, with over CAD 900 million available, and FY2025 guidance anticipates higher shipments and continued transformation.