Algoma Steel Q2 FY26 net loss narrows to CAD 96 million; revenue falls to CAD 267.5 million

Reuters2026/07/29 21:37

By:Reuters

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Algoma Steel posted Q2 net loss of CAD 96 million, narrowing from a year earlier; operating loss widened to CAD 134.2 million.
Revenue fell 54.64% to CAD 267.5 million; shipments dropped 61.6% to 181,473 tons.
IFRS EBITDA improved to a loss of CAD 47.1 million; non-GAAP adjusted EBITDA swung to CAD 13.8 million, helped by CAD 45 million insurance proceeds.
Direct tariff costs declined to CAD 18.7 million; U.S.-bound volumes fell to 23% of shipments from 54% a year earlier.
Second EAF unit construction neared completion, with first steel expected in Q3 2026; total available liquidity was about CAD 437 million.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Algoma Steel Group Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202607291730PRIMZONEFULLFEED9800528) on July 29, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Algoma Steel Q2 FY26 net loss narrows to CAD 96 million; revenue falls to CAD 267.5 million

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